Tunisia » Mortgages

As foreign investment in Tunisian property is new it does not offer any mortgages to foreigners. The need for mortgage financing is not particularly felt due to the low prices of the Tunisian property. However, the fact that property market is growing in Tunisian may help open doors for mortgage financing as well.

The other options include remortgaging a home you own or equity release on properties. Banks offer loans for 20 or 25 years, but the interest rates are so high that they double the house price. Mortgages are not available for foreigners but with changing scenario it is set to change. Noticing the growing interest of foreign investors and the potential of the real estate market in Tunisia, the government plans to liberalize the mortgage industry. When the Tunisian dinar finally becomes ‘open' or convertible that is expected to be by the end of 2009, local banks will be prepared to offer mortgages to foreign buyers. Once foreigners are able to secure a mortgage in Tunisia the property prices are bound to rise.