Tunisia finds film fame
Film-goers know the country as the place where parts of Star Wars were filmed, but Tunisia is now being cast in a new role - property investment...
Tunisia's vast deserts and curious dwellings have made it an ideal location for movie-makers.
The English Patient and Raiders of the Lost Ark were shot here, but it was George Lucas who blazed the way in 1977 when he declared its "beautiful countryside and unique architecture" ideal for his latest movie, Star Wars.
He also noted that North Africa's smallest nation offered a "high level of sophistication."
In property terms, Tunisia has been overshadowed by Egypt and Morocco, but the wind is changing. New laws allowing foreigners to own freehold property have stirred interest in the country, which boasts a strong economy yet much cheaper real estate.
Steve Worboys, the Managing Director of the Experience International Agency, said, "Investors are attracted by the increasing demand for summer holiday accommodation in the most popular resorts, such as Port El Kantaoui on Tunisia's Gold Coast."
Tunisia, which lies due south of Sardinia and enjoys 1,400km of Mediterranean coastline, welcomed 6.8 million tourists in 2007 and the figure is forecast to increase by 4.3 per cent a year over the next 10 years.
The economy is also being bolstered by a strong export market in minerals and food products.
Tourism in Tunisia dates from the 1960s. Today, millions of predominantly German, Italian, French and Spanish holidaymakers visit the major resorts of Hammamet and Monastir. Operators from the UK include ThomsonFly, Thomas Cook and First Choice.
The Tunisian Government wishes to diversify the tourist offer and to attract more high-end visitors. For the property investor, it all adds up to one issue - bed space, or the shortage thereof.
Some are expecting rental returns of 15 per cent in the short term as the demand for accommodation outstrips supply.
Tunisia's old cities and towns offer a colourful hotchpotch of architecture from Roman times onwards while the landscape includes cork oak forests and olive groves in the fertile north.
Inland trips to the desert locations of Star Wars are popular.
For sporting attractions, Tunisia has six golf courses, two of which have 27 holes, diving centres, yachting clubs and a number of marinas - but it is not enough to satisfy the requirements of 21st-century tourists looking for an ever wider and better offer.
Investment, largely from the Middle East, is set to dramatically improve the situation.
Oil-rich Dubai is funding two massive new tourism projects in the capital: Mediterranean Gate, or Century City, a £23.6 billion project comprising hotels, golf courses and marinas, and Tunis Sports City, a £4.7 billion development that will create several Olympic standard academies.
Both offer thousands of residential properties opportunities for the investor.
Gem Estates is marketing another beachside project, the Dunes Golf & Spa Resort, located next to the Port El Kantaoui Marina resort which has two 18-hole golf courses.
Comprising studios, one- two- and three-bedroom apartments, the gated resort fronts white sandy beaches and will have five-star facilities, including Thalasso Spa Centre with indoor pool and Turkish baths.
The properties are being sold freehold and are finished to European standards with Italian-style kitchen, air-conditioning, Tunisian marble flooring and satellite TV.
Two outdoor pools, a poolside bar, and underground parking complete the offer.
Owners will be offered a 20 per cent discount at Port El Kantaou's golf course and watersports from diving to fishing and boat excursions are available year-round.
Prices start from £20,000 for a studio apartment and construction is scheduled for completion in 2011.
Source: Diana Wildman, Daily Express
Picture by Kaptain Kobold