Tunis Property Prices: A Slow Climb After 2021’s Heady Highs

Apartment buyers along Avenue Habib Bourguiba aren’t rushing to outbid each other. June data from the Tunisian Chamber of Real Estate Agents reveal prices in central Tunis have risen by 4.5% year-on-year—a gain, but nowhere near the 20% leaps that defined 2021’s white-hot cycle.

The state of play now has ramifications for developers and buyers alike in a city still digesting the after-effects of pandemic-era demand, surging costs, and last year’s regulatory crackdowns. As extreme heat hits much of Europe and regional tensions simmer to the east, steadying property markets closer to home are being watched closely by investors and first-time buyers trying to time their move.

From La Marsa to Les Berges du Lac: Different Market Now

Agents at Immobilière Ibn Khaldoun, operating in both the central Medina and upscale Les Berges du Lac, report fewer bidding wars and more negotiation. In La Marsa, where two-bedroom flats peaked above 600,000 dinars in 2021, today’s typical resale figure is about 540,000 dinars, according to the independent data service TRES (Tunis Real Estate Statistics). Sellers near Avenue de la Liberté linger longer on the market—an average of 68 days before sale, compared to just 27 days at the height of the boom.

In the city’s newer developments—such as Jardins de Carthage—developers are still launching projects, but off-plan sales are progressing more slowly. “We’re seeing more demand for energy-efficient homes,” said a representative from Tunisia GreenBuild, noting the sustained focus after a record-setting SONEDE water rationing in Tunis last summer. Construction costs have climbed by 13% since 2022, due largely to imported material price hikes.

Volume and Values: Numbers Tell a New Story

Official Land Registry filings show 2,312 property transactions in Tunis proper in Q2 2026—a 7% increase from the same quarter last year, but volumes remain 18% below 2021’s frenzied peak. The average per-square-metre price in downtown Tunis this June clocked in at 2,040 dinars, up from 1,950 dinars last year but still trailing the 2021 record of 2,265 dinars per square metre. Meanwhile, mortgage lending from Banque de l’Habitat saw a slight uptick, with a 2.2% increase in new loans compared to the first half of 2025.

Agents point to a cooling in speculative buying as one reason for steadier prices. The dramatic surges seen in El Menzah’s gated communities in early 2021—sometimes 25% year-on-year—have dropped to more sustainable 3-6% annual gains. This aligns with government figures from the Ministry of Equipment, Housing and Infrastructure released in their May bulletin.

What Next for Buyers and Sellers?

For Tunisians planning to buy or sell in 2026, timing is less urgent than four years ago. Real estate analysts at TRES expect the market to continue its “stabilisation phase” through the next 12 months, absent any major shocks to energy or regional stability. Prospective buyers are advised to budget for longer searches and to beware overpriced listings referencing outdated ‘boom’ figures. For sellers—particularly in Carthage and the southerly suburbs—realistic pricing and patience now matter more than ever. For everyone in the Tunis market, the breakneck pace of 2021 looks firmly in the rear-view mirror.