July 13, 2024

Uvenco

Interior Of The Road

Andorra Real Estate Can Be Bought Easily

The Andorra real estate listings can be found quite easily. The Andorra real estate property is in demand by the foreign buyers. The buyers are especially attracted to the place since there is zero inheritance and income tax. Most buyers for the estate for sale are looking for the ski apartments since the country is known for its ski slopes and is one of the most popular sports in the country. The skiing season starts in December and lasts till April. Even when the owners of the estate property don’t use heir property personally, they can get good Andorra rentals on the property. This is because tourist is always looking for good villas and chalets to rent when they come fro their skiing holidays.

Though the Rental yields at 4 – 5 % may seem disappointing for many of the estate investors, this is a tax free. Moreover the price inflation can be 10% or even above and this makes estate for sale properties quite attractive.

Mortgage value for about 60% of the cost of estate for sale is quite easily available from the local banks. The mortgage terms are available for over 15 years. However the entire payment should be made by the sixtieth birthday. So if a person is 52 years, they will get a mortgage term for only 8 years (till they reach their 60th birthday and a 45 year old person will get a mortgage term for 15 years (till their 60th birthday).

The typical Andorra real estate for sale that is available is apartments and chalets and the most favored places for buying the Andorra real estate property is La Massana, Arinsal, Les Salines and El Serrat. Andorra isn’t a member of the European Union, but the citizens of the European Union don’t require a visa to come to the country. Catalan is the local language that is spoken here, even though English, French and Spanish are widely spoken and understood.

The estate for sale is available quite easily and will depend on the location of the place. This is one of the smallest countries in Europe and isn’t a part of the European Union. But the Euro is the de facto currency and the Euro debit and credit cards are widely used in the country. Andorra is officially known as the Principality of the Andorra and has an area of only 468 square kilometer. Tourism is the major earner of the GDP and accounts for 80% of the GDP. Banking sector, since the principality is a tax haven also contributes substantially to the GDP.