If you are looking for a Holiday Home Insurance or second home insurance in Tunisia, Assetsure, in partnership with Intasure, are pleased to be able to offer you both buildings and contents insurance. Tunisia, is a relatively new country for holiday and second-home purchase and it is often difficult to obtain property insurance policies as there are few insurance providers in the United Kingdom, that are prepared to offer covered in this country.
The holiday home insurance policy that we sell, will cover your holiday home or apartment, whether you choose to use it for your own personal use, or you decide to rent it out to tenants ( on either a short or long term basis.) The policy wording on offer covers the majority of perils you would expect to see under a standard buildings and contents insurance policy, each risk is considered on it’s merits and the full range of perils and liability cover, will be discussed with you at the quotation stage. Cover is available, whilst the building is occupied or unoccupied. it can be used for your own holidays as a second home or rented out to holiday makers.
Tunisia lies on the Mediterranean coast of Africa between Algeria and Libya and forms part of the North African Region. The country’s capital is Tunis. Despite it’s relatively small size, the country boasts some off North Africa’s most varied landscapes. In this country, you can experience the vast emptiness of the Sahara desert, but also areas with verdant green valleys with a large variety of wildlife. Tunisia also boasts a beautiful coastline projecting into the Mediterranean Sea and has many important historical sites.
Tunisia is Africa’s smallest nation and it has been slightly overshadowed by it’s near neighbours, Morocco and Egypt, both whom have received large volumes of coverage with regard to their respective property markets. However, Europeans are waking up to the benefits of property ownership in Tunisia, for one thing, it is under three hours flying time from many major European capitals and property prices are currently, very, very cheap. They are at a level, experienced in neighbouring countries, 5 years ago but this is set to change with the local authorities, now keen to encourage home ownership by foreign nationals. The main holiday home areas are: Al Kaf, Al Mahdiyah, Al Munastir, Al Qasrayn, Al Qayrawan, Aryanah, Bajah, Banzart, Bin’Arus, Hammamet, Jundubah, Kairouan, Kef, Madanin, Mahdia, Monastir, Nabul, Port Al Kantaoui, Qabis, Qibili, Safaqis, Sfax, Sidi Bu Zayd, Silyanah, Sousse, Susah, Tatawin, Tawzar, Tozeur, Tunis, Tunisia and Zaghwan.
Until recently, there was very little, home ownership by overseas investors. The Tunisian authorities, actively discouraged the purchase of property by foreign nationals, to ensure that prices were kept at reasonable levels for it’s own citizens. In Tunisia, home ownership is remarkably high, as much as 80%. amongst it’s population. However, it has recently become easier for overseas investors to obtain property in the region, following the enactment of legislation allowing the purchase of some freehold residential properties. This new legislation has been designed to stimulate the second-home market in the country although, it should be noted, that not all sales will be agreed and as per usual, good quality legal advice should be sought.
As mentioned above, property prices are considered to be cheap, but for how much longer. Much is being done to improve the infrastructure, and it is reported that at least five new golf courses are currently being constructed and hopefully these will aid more foreign investment by appealing to European needs. It is still possible to buy property from as little as £15,000, even property close to the coast is still relatively inexpensive. Tunisia, is easily accessible from Northern Europe and many budget airlines are considering flying to the country. Construction of a new airport, is now at a well advanced stage and it is anticipated that it will be ready for running at some stage in 2009. The airport is set to become the biggest international Airport in northern Africa and will have the capacity to handle wide body jets.
The purchase of property in Tunisia, is relatively straight forward but as with a dealings in a foreign country and language, you will need good quality legal advice. A preliminary contract of sale (“promesse de vente” or promise of sale) is executed between the vendor and buyer. Prior to this, the regional land ministry records should be checked to see if the property has an encumbrances. The preliminary contract should include the following.
- The names of the contracting parties involved.
- Full details of the address and other identification details of the property
- Full details of the cost involved in respect of both buyer and seller and who will pay what.
- Confirmation of Tenant details ( if any) or confirmation that the property will be vacant.
- ‘ Delay of Sale” details. This allows the purchaser time, to provide funding etc.
- Details of the deposit ( usually 10%)
The contract of sale is then prepared by a lawyer or a notary ( after consultation with the property registry services). Regardless of who prepares the sale contract, it still has to be notarised and both contracting parties should be present. After payment of the transfer tax and registration fee, the purchaser files an application for a title deed at the Land Property Administration, and a property certificate from the Regional Land Registry.
