Passed In: Why These Tunis Properties Failed to Sell at Auction This Week

This weekend’s property auctions in Tunis delivered another brisk round of sales, but several high-profile homes hung in limbo, their reserve prices unmet and owners left to regroup. Among the passed-in listings: a renovated villa on Avenue Abdelaziz Thaalbi in El Menzah 5 and a three-bedroom apartment overlooking the beach near Sidi Abdelaziz in La Marsa.

The mix of fast sales and unsatisfied sellers is becoming a barometer for market tension as heatwaves, inflation, and post-pandemic recovery continue to reshape buyer priorities. The stakes are high for sellers chasing top dinar, given surging construction costs and fears of further economic uncertainty in the region.

What’s Behind the Stall?

The two passed-in properties were among the priciest in their respective lots. The El Menzah villa, guided at 1.5 million dinars, received only two tentative bids before the hammer fell with no sale. Local agent Tarek Ben Mahmoud, speaking after the auction at Hôtel Laico Tunis, described cautious buyers as 'hesitant to meet vendors’ expectations', citing the sharp jump in listing prices since early 2025. Nearby, the beachfront apartment in La Marsa was withdrawn at 980,000 dinars, still shy of the confidential reserve. The agency behind the sale, Agence Immobilier El Karma, attributed the pass-in to nervousness over new property taxes tabled for debate at the Municipal Assembly this month.

Clearance figures tell the story. Saturday’s Central Tunis Property Exchange saw 14 out of 19 lots sold under the hammer—a clearance rate of 74%. That figure is down slightly from May’s average of 81%, according to the Tunisian Federation of Property Auctions (TFPA). The average auction price across all sold homes was 615,000 dinars, dragged down by steady demand for two- and three-room flats in Ben Arous and the Medina. By contrast, higher-end homes—especially those on leafy boulevards of El Menzah and in coastal pockets of La Goulette—are sticking as buyers push back against lofty vendor hopes.

Cooling High-End Ambitions

“Most buyers active in this market are finance professionals or expatriates returning to Tunis,” said an auction staffer who runs listings near Parc du Belvédère. “They are prepared to pay for location, but not for every expensive fit-out or speculative price.” According to TFPA data, five of the last eight homes passed in this year have fallen into the top quartile of the Tunis market, typically listed above 900,000 dinars. Sellers point to upgrades and foreign buyer interest, but agents say domestic demand is picking up only at the more affordable end of the spectrum. Secondary factors, including persistent heatwaves and concerns over infrastructure reliability—from water access in Bardo to power cuts in Carthage—are also cited by agents as grounds for extra hesitancy.

This week’s median sales period hovered at 19 days from auction listing to hammer fall—a clear sign that priced-right homes still attract buyers. For properties that passed in, the next step is almost always negotiation: agencies typically re-engage top bidders privately or relist for later rounds. The TFPA advises sellers aiming for swift deals to reassess reserve prices and be ready to move fast, as July often brings a lull ahead of the August holiday exodus.

For now, the message is clear: high hopes will need pragmatic adjustment in Tunisia’s top precincts. For ordinary buyers, there’s still opportunity lurking among those passed-in lots—if nerves and wallets can align before the summer’s end.