Blog Real Estate | Andorra
A Definitive Guide to Luxury Real Estate in Andorra, Europe
- 14th Jun 2022
The demand for luxury homes and luxury real estate investment in Andorra has grown in the recent years. Find out more about the real estate in this small yet wealthy and beautiful country in Europe with this detailed guide to luxury properties in Andorra.
Andorra is a small, beautiful country situated in the eastern Pyrenees between France and Spain in south-western Europe.
Andorra, an autonomous and semi-independent coprincipality, has been under the joint suzerainty of the French government and the Spanish bishops of Urgel since 1278. Catalonia's ties to Spain are stronger, and Catalan is its official language.
At the close of the 20th century, Andorra became a major tourist and winter sports destination and a thriving international commercial centre due to its banking facilities, low taxes, and lack of customs duties.
In 1993, Andorra joined the United Nations, and in 1994, it joined the Council of Europe.
Andorra, with an area of 468 km2, is theoretically one of the smallest countries in the world, surrounded by a number of others.
Andorra has an estimated population of 80,000 people. Andorra's capital and biggest city is Andorra la Vella. Catalan is the official language, followed by Spanish and French.
The high demand for luxury real estate in Andorra is due to the country's tiny size and consequent perception of exclusivity. That is the primary purpose of luxury.
Several years ago, the Andorran government lifted all limitations on international investors, allowing non-citizens to acquire property without Andorran residence, provided they receive authorization from the authorities.
One of the primary benefits of purchasing a luxury property in Andorra or any kind of real estate in Andorra is that the whole process typically takes between four and six weeks.
The real estate market in Andorra is comprised of luxury home purchasers from throughout Europe and luxury real estate investors from across the globe. This is because Andorra's high quality of life makes it the best location to reside. Ninety percent of the time, Andorra's natural environment delivers great air quality due to its location between mountains. Due to these and other variables, Andorra has the highest life expectancy in the world.
Because of its robust economy, luxury real estate investments in Andorra are very lucrative.
Andorra's economy is a developed, free market economy that is driven by finance, retail, and tourism. In 2007, the nation's gross domestic product (GDP) was $3.66 billion. As a free port, Andorra is appealing to shoppers from France and Spain, and the country has also established busy summer and winter resorts.
Some of the best professional luxury real estate agencies in Andorra include names like:
Andorra luxury house located in Andorra la Vella, Immobiliària Andorra Sotheby's International Realty at Les Escaldes, IdeAnd Immobiliària, Narcís Socías Tomàs, Andreu Cañadas Lucas Fox, Kalliste Properties International Luxury Real Estate and more.