On the political map of the world, the Principality of Andorra occupies very little space. At the same time, this state is considered one of the most prosperous countries in the center of the European continent. This state has a very small area, which is equal to 468 sq. km. The Principality has always been considered an excellent place to invest, including through the purchase of real estate. In recent years, this trend has only increased and therefore now the real estate market in this country is experiencing a serious rise. Learn more about Andorra homes for sale.
What kind of real estate is in demand in Andorra
Over the past few decades, the Principality of Andorra has developed rapidly, thanks to which it has seriously increased its financial liquidity, which in turn has made the country attractive for investment. And if in the past large properties were sold quite hard here, now everything has changed.
At the moment, the Principality is experiencing a serious lack of commercial sites, including shops, business centers, office and warehouse space. That is why today commercial real estate in mountainous countries is the most scarce type of real estate. The funds invested in such objects allow the owners to receive a stable income in the range of 3-10% per year. It is very easy to rent a shop or office in Andorra, as many people are looking for an opportunity to open their business here, and there are extremely few offers on the market.
As for residential real estate, the situation here is a little more complicated; it is sold in fairly large volumes and therefore landlords who rent apartments or houses earn an average of 2.5% per annum. Of course, there are exceptions, so if a person owns a villa near ski resorts, he can rent it out for very good money.
At the same time, it must be said that the skiing season in this country lasts an average of five months. However, this does not worry the owners of resort real estate too much, since many lovers of cycling and the so-called eco-tourism come to the Principality in the summer.
What categories of people buy real estate in the Principality of Andorra
A big plus of buying property in Andorra is that if it costs from 350,000 euros, the owner can obtain a residence permit under the laws of this country. It is clear that this is a great opportunity for everyone who wants to emigrate from their country and move to live in Andorra. So, for example, the British and Russians most often buy houses in quiet corners, which are far from the noise of megacities. The Spaniards and the French, on the contrary, prefer regions where you can have fun (for example, in the provinces of Encamp and Canillo) that are as close as possible to the local mountain resorts. The most luxurious real estate in the principality is located in the capital city of Andorra la Vella, as well as in such districts as Pal, Ordino, La Massana. Here, real estate is mainly acquired by wealthy Americans and immigrants from Asian countries.