Tunisia: Decrease in mortgage rates to revive the housing market
Tunisia has reduced the interest rates on mortgages taken out in the country, thanks to the vote on Thursday, December 27 of section 72 of the Finance Act 2013 by the National Constituent Assembly (ANC).Tunisia has reduced the interest rates on mortgages taken out in the country, thanks to the vote on Thursday, December 27 of section 72 of the Finance Act 2013 by the National Constituent Assembly (ANC).
This decision comes as the Tunisian real estate market, with constantly rising prices since the Arab Spring, prevents some citizens from buying a house.
In October, the North Africa Journal explained that the Tunisian real estate market was split in two : on the one hand, rich Tunisians and foreigners who can afford houses ; on the other hand, the middle classes which are unable to invest.
The lower interest rates on mortgages should make it easier for middles classes to get on the property ladder.
In addition, Sefrioui Anas, founder of the Moroccan real estate group Addoha, told Jeune Afrique that they had begun to explore opportunities in Tunisia.
The arrival of this developer, who specialises in simplifying access to property by supporting buyers throughout the process, could also help Tunisians in this domain.
The ANC also voted the extension of deposit deadlines from five to eight years, as well as new regulations to incorporate non-stamped objects made of precious metals into the economy, AFP reported.