Real Estate in Andorra
The real estate market in Andorra has gone through some turbulent years in the recent past. With the Spanish economic downturn the demand from Andorra’s main trading partner and tourist source market has dropped substantially. The has caused an important drop in prices for leisure apartments and chalets near ski resorts.
A further result of the European economic downturn in general was a decline in touristic and construction activity in Andorra. An excessive stock of touristic apartments remains especially in the upper parishes (areas) near the ski resorts. Finally as consequence of the decline in construction activity many workers with temporary residences have left Andorra and an overall decline in population added to the already difficult situation or real estate demand for housing in particular.
Currently the economic activity is recuperating and we may assume that prices have floored and that it may be a good opportunity to invest. At AndorraConsultants we focus on project development for commercial and residential development. However we also have an inhouse real estate agency that is available for those clients that look to buy or leave property in Andorra. Relocation related aspects such as permissions, car registrations, schooling are handled by our family welfare department.
Commercial property is currently demanded given the foreign direct investment and company formation projects that Andorra is attracting with its favorable taxation.
If you are interested in the above services we would be pleased to discuss potential opportunities for development in Andorra or introduce our real estate agents to you.