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The Dominican Republic is located in the West Indies, in the center of the Greater Antilles and covers 48,730 square meters. km in the eastern part of the island of…

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Malta Real Estate Investments
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Andorran real estate market: the versatility of investments

It is not customary to talk a lot about the real estate market in Andorra on the international scene, but today this small European principality has become one of the most stable countries in Southern Europe – a growing economy and stable housing prices attract a considerable number of investors.
Located in the Pyrenees between France and Spain, Andorra is the bearer of the oldest surviving state border in the world, which has not changed since 1278. From the same year, the country does not participate in wars, maintaining neutrality. Andorra has not yet joined the EU, but is known for its preferential taxation and is considered one of the main offshore companies in the world, attracting a large number of entrepreneurs and tourists interested in duty-free trade. There is also no real estate tax in the country.

Buy real estate in Andorra

Here, luxury goods trade flourishes and the skiing industry is highly developed, and the capital of the Principality of Andorra la Vella is the highest mountain capital in Europe. The country’s standard of living, the quality of education, medical services, per capita income, which last year ranked 22nd in the world, overtaking France and Spain, which provokes many foreigners to move.

Trends
The government of Andorra has created conditions under which a law-abiding and wealthy applicant can expect to receive a “passive” residence permit when investing in the purchase of real estate from 350,000 euros or registering an international company. The policy of experienced Andorran bankers in the field of lending also protects housing from depreciation, which is why the situation in the Andorran real estate market has been stable for many years – prices either remain at their level or increase slightly.

After the adoption of the new investment law in 2012, an increase in foreign buyers is observed: now non-residents can not only buy real estate, but also open enterprises in the country and directly invest in the economy of the principality. Cash inflows and a general economic recovery are all positively reflected in the real estate market. Such processes have led not only to revitalization of the industry, rising prices, but also to the formation of a certain deficit, especially commercial real estate – objects of this category are in high demand, since the yield on rental is from 15%.

Buy real estate in Andorra

One of the actual features of Andorra is the limited places for building. Including territories with investment attractiveness. Government policy is aimed at identifying promising areas or buildings with subsequent development or reconstruction and attracting investors for these purposes on favorable terms. If you find out about such options in advance (large companies that have long been operating in the region have such information), then you can buy an object that has positive prospects for long-term use, and also receive high rental income of up to 20%.

Therefore, today in the real estate market there is also a shortage of new housing: if something new is being built in the capital, then we are talking about very high prices, which does not prevent the objects being sold out at the off-plan stage. Demand for affordable real estate also exceeds supply, therefore, compared with 2017-2018. prices for it rose slightly. The cost of rent also increases, while finding a good object is not easy.

Geography and prices
Andorra, although a small country, is administratively divided into seven provinces. Each of the provinces has its own specifics of development. So in the metropolitan region of Andorra la Vella, property prices are not only seasonally deprived, but they are growing steadily, especially for commercial real estate, premises for long-term lease or obtaining a legal address. On average, we are talking about 3000-5000 euros per sq.m. A similar situation is observed in the province of Escaldes-Engordany, a very popular area with local residents. Here is the largest thermal water complex in Southern Europe, shopping streets with duty-free shops.

Buy real estate in Andorra

Prices in the provinces of La Massana and Canillo are lower: the cost per square meter usually does not exceed 3,000 euros. Previously, these areas provided services to tourists coming for winter sports, but recently the country has made great strides in the development of the tourism industry and the infrastructure for golf, cycling, and equestrian sports. The creation of “health routes” and “historical tours”, duty-free trade for certain goods – all this ensures a year-round steady influx of tourists into the country, so the number of tourists is 12 times the indigenous population. And, as a result, it supports the demand for real estate for various purposes.

A two-bedroom apartment in Andorra can cost from 150,000 euros, the average benchmark for a three-bedroom apartment will be in the region of 300,000 – 450,000 euros.

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