At the end of 2023, Mubawab Tunisia launches the first edition of its exclusive report called Land Guide: Analysis of the Land Market in Tunis 2023. This land guide aims to shed light on the real estate scene through an analysis of the activity on its portal. from real estate ads posted on Mubawab.tn, highlighting residential land.
This first edition, covering the period from January to November 2023, reveals real estate trends through the development of supply in relation to demand, as well as price fluctuations per m² of land in different regions of the country.
Development of supply in relation to demand
This land analysis shows that 51% of real estate demand on Mubawab.tn is focused on real estate acquisition, of which 13% is dedicated to land. The offer of land represents 9% of the total advertisements intended for sale.
According to the study, the proportion of applications (13%) oriented towards the acquisition of land may indicate a significant reluctance to this type of real estate investment. This trend can be explained by various factors including increase in construction costs, slowness of works, complexity involved in acquiring land due to land titles, lack of land developed for construction due to population and urban growth, for example as well as infrastructure considerations and soil viability.
However, these elements contributed significantly to the 30% decline in the granting of building permits in Tunisia, as indicated by data from the Ministry of Facilities and Housing revealed in November 2023.
Seasonal dynamics of the Tunisian country
Analysis of changes between January and November 2023 pointed to peaks in demand in May and August, while supply remained relatively stable during this period. On the other hand, a significant decrease in supply and demand was recorded in February and March 2023. This monthly fluctuation indicates the existence of seasonal trends, especially the return of Tunisians residing abroad (TRE) between May and August. Especially in these moments, TRE is trying to guarantee a foothold in Tunisia.
Regional trends in real estate: Price per m² of land
Average prices per square meter of presented land vary depending on several factors, such as occupation, location, geographical area, surrounding infrastructure, proximity to civic amenities and also the distance that separates them from the sea.
Greater Tunis
Les Jardins de Carthage in Greater Tunis stands out as having the most expensive land for sale according to the study, with an average price of 2,800 DT/m², indicating a high-end real estate market in this location.
This is followed by plots located in the districts of El Menzah 9C (1250 DT/m²) and Jardins d’El Menzeh 2 (1100 DT/m²), which stand out for their close prices.
Other areas such as Chotrana (1000 DT/m²), La Soukra (1000 DT/m²), Riadh Al Andalous (990 DT/m²) have high prices but are relatively more affordable.
Areas such as Borj Louzir, Bhar Lazrag and La Manouba have lower prices with an average of 700 DT/m², thus falling in the middle range and offering a compromise between price and amenities.
On the other hand, areas like Mornag (600 DT/m²) and Raoued (500 DT/m²) offer lower prices, making them the most affordable neighborhoods included in our study.
Sahel
The Sahloul 4 district in Sousse Governorate stands out with an average price of 1350 DT/m², indicating a relatively high property value in this location.
On the other hand, Hergla has a more modest average price of 800 DT/m², indicating greater affordability for buyers.
Monastir Ville records the lowest average price per square meter among the three zones with 750 DT/m².
Bon cap
Considerable differences also appear in the Hammamet region. Land in Hammamet-Nord has an average price of 1100 DT/m², indicating a relatively high property value in this area. In addition, Kélibia-Ville has a lower average price of 700 DT/m². Cité El Wafa (Nabeul) is in the middle range with an average price per square meter of 1040 DT/m².
The portal also clarifies that requests from abroad to acquire land on Mubawab.tn come mainly from different nationalities. France stands out by taking the top spot with a significant share of 47%, followed by Germany (8%), Saudi Arabia (6%) and Qatar (6%).
At the bottom of the ranking we find Canada and the United Arab Emirates, which account for 4% of the total demand for land. Italy (3%) ranks last in terms of land acquisition, according to announcements published on the portal.