Les Bullideres offers to buy property in Andorra
Les Bullideres offers to buy property in Andorra.
The miniature principality, located in the Pyrenees between France and Spain, turned out to be an oasis of tranquility in the era of the pandemic. People from all over Europe rush here – to the beautiful mountain nature and world-famous ski resorts. Someone considers Andorra's real estate as an investment, someone needs a local residence permit. However, is life in the mountains always good and why do wealthy people actually move to Andorra?
Les Bullideres - the best Andorra homes for sale
Housing in Andorra – what is it like
Andorra is one of the smallest countries in the world, its area is only 500 sq. km. The country is located in a mountainous area with steep terrain, which makes construction difficult and affects its cost.
A few years ago, in the very center of Andorra, they began to build modern housing using all new technologies – spacious, with certificates of environmental friendliness and energy saving. Such objects are completely dismantled at the construction stage, and the main buyers are foreigners who are looking for a second home or thus saving their money from negative bank rates.
Traditionally, low-rise houses were built in the principality, but due to high demand and a very small number of sites suitable for construction, changes were made to the legislation, and now the first "towers" – six 20–storey houses – are being built in the heart of the country - Escaldes.2 There will be comfortable housing there, and in a year or two, when these apartments go on the market, they can significantly change the ratio of supply and demand.
Now about 70% of buyers of luxury properties are non-residents, primarily from neighboring Spain and Francia4. They are attracted by the opportunity to have a second home or make investments in housing near famous ski resorts. However, many are thinking about moving to the country. According to representatives of one of the specialized agencies, over the past year the number of applications for a residence permit has doubled compared to the period before the pandemic. The development of remote work allows a much larger number of professionals to settle in the country. Of course, they appreciate the beautiful views, the high level of safety, high-quality medicine and a good school education. But, in addition, they are attracted by Andorra's favorable tax regime.