Andorra real estate listings can be found quite easily. Andorra real estate is in demand by foreign buyers. Buyers are especially drawn to the location as there is no inheritance or income tax. Most property buyers for sale look for ski apartments as the country is known for its ski slopes and skiing is one of the most popular sports in the country. The ski season starts in December and lasts until April. Even when the owners of the real estate do not use the heir’s property personally, they can get good Andorra rentals on the property. This is because tourists are always looking for good villas and chalets to rent when they come for a ski holiday.
Although rental returns at 4-5% may seem disappointing to many real estate investors, this is tax free. Also, price inflation can be 10% or even higher, and this makes properties for sale quite attractive.
Mortgage value for around 60% of the cost of the property for sale is readily available from local banks. Mortgage terms are available for 15+ years. However, full payment must be made before the sixtieth birthday. So if a person is 52 they will get a mortgage term of only 8 years (until they turn 60 and a 45 year old will get a 15 year mortgage term (until they turn 60).
The typical Andorra properties for sale that are available are apartments and villas and the most favored places to buy Andorra real estate are La Massana, Arinsal, Les Salines and El Serrat. Andorra is not a member of the European Union, but citizens of the European Union do not need a visa to come to the country. Catalan is the local language spoken here, although English, French and Spanish are widely spoken and understood.
The property for sale is available quite easily and it will depend on the location of the place. This is one of the smallest countries in Europe and is not part of the European Union. But the euro is the de facto currency and euro debit and credit cards are widely used in the country. Andorra is officially known as the Principality of Andorra and has an area of only 468 square kilometers. Tourism is the main source of GDP revenue and accounts for 80% of GDP. The banking sector, since the principality is a tax haven, also contributes substantially to GDP.