Andorra real estate listings can be found quite easily. Andorra real estate is in demand by foreign buyers. Buyers are especially attracted to the location as there is no inheritance or income tax. Most buyers of properties for sale are looking for ski apartments, as the country is known for its ski slopes and it 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 property from the heir personally, they can get good Andorran rents on the property. This is because tourists are always looking for good villas and chalets to rent when they come on ski holidays.
Although rental yields 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 more than 15 years. However, full payment must be made before the sixtieth birthday. So if a person is 52 years old, they will get a mortgage term of only 8 years (until their 60th birthday) and a 45 year old will get a mortgage term of 15 years (until their 60th birthday).
The typical Andorran properties for sale that are available are apartments and villas and the most favored places to buy Andorran 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.
Property 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 is not part of the European Union. But the euro is the de facto currency and debit and credit cards in euros are widely used in the country. Andorra is officially known as the Principality of Andorra and has an area of just 468 square kilometers. Tourism is the main source of GDP income and accounts for 80% of GDP. The banking sector, since the principality is a tax haven, also contributes substantially to the GDP.