Not All Homes Find Bidders: The Properties That Passed In and Why at This Week's Tunis Auctions

Out of 46 properties set to go under the hammer across Tunis on Friday and Saturday, 11 failed to meet reserve and were passed in, according to data from the Fédération Nationale des Agents Immobiliers. Clearance rates for the city’s public auctions sat at 76%, marking the third consecutive week below 80% despite surging demand for well-located apartments.

These unsold listings tell a complicated story behind the headline numbers. As homebuyers grow cautious amid stubbornly high mortgage rates—now hovering above 8.5% at Banque de l’Habitat—owners at the top end of the market are discovering that ambitious reserve prices don’t always draw the bids they hope. At the same time, demand remains fierce for renovator’s specials and modern flats in fast-gentrifying areas, but seasoned investors have recently shown signs of stepping back, wary of tighter lending conditions and jitters ahead of the September citywide property tax reassessment.

Where Deals Stalled—And Why

Among the 11 passed-in properties, three stood out for their high-profile locations and lack of bidders. On Rue de Marseille in downtown Tunis, a four-bedroom colonial-era villa—guided at 1.35 million dinars—attracted strong early interest but failed to surpass the vendor’s reserve. Nearby, a modern duplex on Avenue Habib Bourguiba with partial city views was passed in at 740,000 dinars, 60,000 short of its listed minimum. In both cases, auctioneer documents cited insufficient offers after multiple rounds.

Over in the increasingly popular Les Berges du Lac II, two apartments in the Neapolis residential tower were left unsold—one due to unresolved strata levy disputes flagged by the Homeowners’ Syndicate, the other struggling with restrictive tenant lease conditions. West of the city centre, in El Menzah 6, a semi-detached family home aiming for a record price for the block failed to generate a single opening bid—agents noted the lack of secure parking and a recent spike in comparable sales in the neighbouring El Manar 1 as likely factors dampening enthusiasm.

Numbers Show a Cooling at the Upper End

This week’s overall clearance rate of 76% is still well above national pre-pandemic averages, but marks a softening from the 89% seen at the start of May. Price guides for central Tunis apartments have crept up by 9% since January, according to statistics from IFEDA (the national property market analytics bureau), with the average auction result now hitting 578,000 dinars for a two-bedroom. Passed-in properties posted an average guide of 1.07 million dinars—suggesting luxury listings and houses in established enclaves are bearing the brunt of buyer wariness. Local agents from ImmoTunis say the gap between seller expectation and where buyers are prepared to meet is more pronounced than at any time since early 2022.

Potential buyers are also citing uncertainty over the upcoming September 2026 municipal land tax recalibration. With city hall in Bab Souika yet to release its draft new valuations, investors are factoring higher holding costs into their calculations—and some are simply waiting out the winter auction lull before re-entering the market.

Sellers now face a clear choice. Properties that passed in will return to market next week with more realistic guides or, in some cases, via private treaty negotiation with bidders who showed interest but walked away. Those hoping to achieve standout prices for older homes will need to prioritise presentation and resolve legal or title issues before the next round. For buyers, the increase in passed-in homes may signal a window to negotiate more favourable terms—especially in established neighbourhoods like La Marsa and Ariana Ville, where vendor expectations have yet to catch up to the shifting market mood.