Real estate market review 2018: Andorra. Global real estate

[Irina Rybalchenko]

“PROS” and “CONS”. The major advantage of owning real estate in Andorra by both residents and non-residents of the Principality is the absence of taxes for that. The only payments are the fees to local Comu administrations that do not surpass the annual limit of 400 euro for 500 m2 chalet. In neighbor Spain the tax for the analogue property can make up to 3000 euro annually, depending on the region.

Besides the owner of the property that costs more than 350 000 euro can apply for Andorran residence.

One more advantage of acquiring the property in Andorra is favorable geographical location of the Principality, its closeness to Barcelona and Toulouse as well as to Madrid, Biarritz and Cote D’Azur. In the beginning of 2015 the airport, that is located within 10 minutes driving distance from the border with Andorra (on the territory of Spain), was opened for the  low cost flights to Barcelona, Madrid, Toulouse, Lisbon, Canary and Balearic Islands. The flight from Barcelona will take no more than half an hour. andorra_la-vella_property

Andorra is a year-round resort—ski resorts of Andorra are available for 5 months a year, thermal resorts are open all year round.

Mediterranean resorts of France and Spain are located within 2-3 hours of driving distance.

The banks of Andorra are included into top-20 of the world banks from the point of view of private investments allocation.

Andorra is also included in the list of top 25 countries for business development. Thanks to the Law that allowed foreigners to have business in Andorra, the Principality has reinforced its positions of financial center.

Andorra is the center of European shopping. The prices for many goods here are 15-30% lower than the average European ones. At that, in accordance to International living index Andorra takes the 12th position in the world for its living standards.

Look here for the full research 2018: https://all-andorra.com/property-market-review/