Millions of tourists are attracted to Andorra every winter thanks to good skiing, and every summer — mountain sports. The location of a small country, between France and Spain, means that there is easy access to major cities, Mediterranean resorts and well-connected airports in less than three hours.
Even if you are traveling through mountainous terrain, as well as access to a small airport less than ten minutes from the border. As a result, Andorra is desirable for property seekers from all over Europe.
The real estate market in Andorra is usually stable, and property rights are largely protected by law. Although the country is not a member of the EU or the European Economic Area (EEA), it is part of the eurozone. This means that real estate is bought and sold in euros, so buyers from other eurozone countries should worry less about currency transactions.
Andorra has another important advantage to offer real estate buyers; low taxes. They attract wealthy people who want to move for financial purposes, who can apply for a residence permit if they invest more than 400 euros in property and other investments.
In addition, low taxes are also beneficial for those who buy a second home. Even with the annual tax on local services plus the annual property tax paid by the owner, even if the tenant lives in the property, the annual tax bill is lower than in similar real estate in other European countries.
The total cost of living is also beneficial, as many goods are cheaper to buy than abroad.
In Andorra, a two-bedroom apartment with two bathrooms in Ordino, which has a mezzanine that can be used as a home office, is currently for sale for 375,000 euros.
It has 97 sq.m. of living space and a parking space for a car, and this is enough to qualify for a residence permit if the applicant can satisfy other requirements, such as proof of income or property.