Tunisia » The Purchase Process

Foreigners in Tunisia now can buy any land except for agricultural land. Investing in Tunisian property is still relatively new as foreigners were allowed to purchase Tunisian real estate only in 2006. Although the policy has now been relaxed but still all real estate transactions by foreigners are subject to approval.

For property purchase in Tunisia a lawyer or an agent must be hired who can guide you and help distinguish between the agricultural lands from the purchasable land. After selecting a property in Tunisia, an application for authorization to buy the property is sent to the governor of the region along with complete paperwork that is checked by the local council. The application process is a long one and can take some time. Although it is a formality but it makes the property buying in Tunisia much safe as every property is checked and a record maintained. With the rapid increase in property buying this lengthy process might be changed. The buyer of property in Tunisia requires a currency convertible account with a Tunisian bank and an initial deposit of 10-30 has to be made.

For the sale process of Tunisian property the buyer has to be present in person.

A preliminary contract of sale (“promesse de vente” or promise of sale) is executed between the parties concerned. Whether there are any legal encumbrances on the property should be first checked at the Regional Land Ministry.

The preliminary contract requires:

• The name and identification of the contracting parties
• The address and  identification details of the property
• Mention of the tenant, if there is one and the date the tenant will leave
• Delay of realization of sale: it is the grace period in which the buyer must complete the documentation needed and arrange for the funds
• A deposit that is around 10% of the sale price is given.

The contract can be made by a lawyer or a notary after consultation with the property registry services. It is necessary for the contract to be notarized. At the time of notarization both the buying and selling parties must be present. When all the payments have been made by the buyer, the purchaser files the application for a title deed at the Land Property Administration.

For those interested in buying off-plan property in Tunisia need not worry as the Tunisian law provides complete protection for the buyer in a regulated manner. The funds given by the buyer are secure with the bank which the developer has no access to. The bank has the responsibility to give the funds as required at various stages of development. Inspectors keep a check on the development on a monthly basis to monitor how much funds are needed and  the funds are released accordingly.  The bank where such accounts are maintained is Banque de l'Habitat. This whole process of purchasing off land Tunisian property is a very secure one.