The luxury real estate market continues to grow in Andorra
05/01/2017
Whether it is to rent a property as a second residence or to buy a property to reside permanently, Andorra continues to be one of the main destinations chosen by private clients and investors interested in the luxury real estate market. Thus, with its 468 square kilometers and just over 71,000 inhabitants, Andorra has established itself as a country of reference for residents with a high purchasing power. Nestled in the heart of the Pyrenees and with overwhelming landscapes, the natural environment of the Principality is one of the main assets of the country, but to this must be added other equally relevant aspects such as national security, a high level of quality of life, as well as important tax advantages.
Luxury properties, an attraction for passive residents
As the president of the Association of Real Estate Agents and Managers (AGIA) of Andorra, Antònia Sevé, indicated at the beginning of last year, in recent years the Principality has firmly committed itself to the luxury sector. In this sense, the Andorran institution emphasizes that the commitment to the luxury market "will boost and strengthen the Andorran real estate market", since, as Sevé points out, "if we base the new construction on luxury apartments we can possibly attract more passive residents'.
Luxury based on equity value
Unlike other countries, the client interested in the luxury real estate sector who arrives in Andorra does not look for large extensions of land or plots, but is mostly attracted by a type of luxury linked to heritage value, such as with the different rehabilitated huts that exist in the country. Other attractions are the large and luxurious apartments at the foot of the slopes or very close to the ski areas, as well as luxury properties located in the main commercial hubs of the country.
Can Diumenge, Els Vilars and Parc Guillemó, the most exclusive residential areas
With an average price of around 8,000 euros per square meter, the Can Diumenge area, in the town of Escaldes-Engordany, and the Parc Guillemó, in Andorra la Vella, are two of the most exclusive residential areas in the whole country. . Such is the case, that illustrious neighbors such as Baroness Carmen Thyssen, who recently acquired two houses in the Can Diumenge urbanization, the German model Mark Vanderloo or some of the main economies of the country, as for example the founding family of Perfumerías Júlia. Top-level athletes have also resided in these exclusive areas, such as the Spanish tennis player, now retired and former world number one, Arantxa Sánchez Vicario. With a slightly lower price, approximately 6,000 euros per square meter, the Parc Guillemó area, also in Andorra la Vella, is another of the most exclusive areas in the whole country.
Andorra Sotheby’s International Realty Av. Joan Martí, 102 – AD200 Encamp – Tel. + 376 872 222 – Fax: + 376 872 223 – info@sir.ad