Property sales in Tunisia down 80 percent, developers' body warns

The National Chamber of Real Estate Developers (CNPI) says transaction volumes have collapsed 80 percent from previous levels, squeezed by land prices of up to 5,500 dinars a square metre and construction costs that have pushed a mid-range apartment beyond 700,000 dinars. CNPI president Hechmi Miliani is pushing for 380 million dinars from the state housing fund to be redirected into subsidised loans; the figure comes from the developers' own association and has not been independently corroborated.

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