The Tunisian Real Estate Developers' Chamber has stated that approximately 45% of Tunisians do not own a home. According to the Chamber's treasurer, Hashmi Milyani, the high cost of property has made it difficult for many Tunisians to purchase a home. Milyani noted that the price of the least expensive home in Tunisia currently ranges between 350,000 and 400,000 dinars.
Milyani attributed the decline in home sales to an increase in rental prices, which he described as a socially problematic issue. He suggested that the "rent-to-own" formula could be a good idea, but it needs to be revised and its implementation mechanisms developed. Milyani also stated that the public sector's plan to build 1,200 homes will not solve the housing crisis.
The Real Estate Developers' Chamber has expressed its willingness to build homes under the same conditions as public institutions. Milyani estimated that private real estate developers can provide between 25,000 and 30,000 homes per year if the right conditions and framework are in place. He also called for a review of the legislative aspects regulating the sector.
Milyani proposed adopting a mechanism that would allow real estate developers to recover their dues and finance new housing projects, such as going through banks. He also revealed that between 5,000 and 6,000 properties have not been sold in Tunisia. According to Milyani, there are approximately 3,372 real estate developers in the country, but only around 700 are actively operating.
The issue of housing in Tunisia has become a significant concern, with many citizens struggling to afford a home. The government's efforts to address the crisis have been deemed insufficient, and the private sector is being called upon to play a more significant role. The Real Estate Developers' Chamber has emphasized the need for a comprehensive solution to the housing crisis.
Milyani's statements highlight the challenges facing the Tunisian real estate market. The high cost of property, coupled with the decline in home sales, has led to an increase in rental prices. The "rent-to-own" formula and the involvement of private real estate developers are being considered as potential solutions to the housing crisis.
The Tunisian government has been urged to review the legislative framework governing the real estate sector. The Real Estate Developers' Chamber has stressed the importance of creating a favorable environment for private developers to operate and provide affordable housing. The Chamber's proposals aim to address the housing crisis and provide more opportunities for Tunisians to own a home.
Key points
- Nearly 45% of Tunisians do not own a home due to high property prices.
- The "rent-to-own" formula is being considered as a potential solution to the housing crisis.
- Private real estate developers can provide between 25,000 and 30,000 homes per year if the right conditions are in place.
