Looking at apartments in Tunis again and some of the prices now are nuts.
Some 3 bed duplexes in Nasr (not out first choice area) are 350k dinars which is approx 150k pounds.
I do not know one person (aside from businessmen owning companies) who earn over 5k dinars a month even high executives earn about 4k per month in Tunisia.
I sold my house in the UK as it was cheaper to rent and I thought property prices where due to tumble (as they have done/doing and in spain). Could it be that some parts of Tunis are experiencing a speculative frenzy?
I could buy at these prices but does anyone think these are a little unsustainable given the number of new apartments in this area of Tunis?
For example a flat I rented in norwich was worth about 180-190k and rented for 700 a month.
for the flats in nasr @350k (dinars) you would get about 800 as for 1000 + you can get carthage or a house.
So Norwich 190000 house 700 rent less than 5% yield so better money in the bank (and why houses are falling in the UK.
Duplex in Nasr 350000 (150,000 GBP approx) 800 a month rent (350 a month gbp) which is about 3%
The wife is desperate to buy and we have the money but could we have a crash in Tunis property?
I appreciate everyones thoughts
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