In Andorra, demand for real estate increased by 99.1% over the year, writes Noticia .
Analysts from the Idealista portal spoke about the growing interest in real estate in Andorra. According to them, over the year the demand for housing in this country has grown by 99.1%. Moreover, buyers are not only interested in ads, but also actively contact the owners of objects. Thus, the number of registered contacts increased by 76% over the year. At the same time, the growth in demand occurs against the background of a decrease in supply. Over the year, the number of available properties decreased by 15.4%.
The surge of interest in Andorra came at the time of the pandemic, but experts see no connection here. They are confident that buyers are attracted by the region's proximity to Spain and the convenient tax legislation. According to Borja Gonzalez-Anta, partner at ETL Global Deyfin, “Andorra is a financially attractive country, and the interest in it is explained by fiscal legal uncertainty in Spain and tax increases.”
“This makes the owners of large fortunes and top managers think about changing their place of residence,” he said, recalling that, moreover, the principality is located just 200 kilometers from Barcelona.
In turn, Josep Luis Estrugas from Engel & Vlkers Andorra confirms the growing interest from clients in Catalonia, Madrid and Valencia. According to him, these are mainly families with high and very high purchasing power. They are looking for luxury real estate, preferably new. The budget is up to 3.5 million euros.
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