In recent months, the result of demand and also due to the slow but steady economic recovery from And.immo, we have seen a gradual increase in prices of rental properties. Although this obviously means an upheaval for all those looking for a rental property in Andorra, this fact must also seize from the point of view of a potential investor.
In this sense, the lack of existing rental apartments in Andorra, a situation that has also shown a good part of the collective ownership of Andorra, a situation that was also evident in the real estate group of Andorra, opens a scenario Very interesting for potential investors who wish to acquire properties in Andorra to rent them.
And why talk about investment opportunity? Because if we consider the shortage of rental housing and the attachment to a growing demand, it is easy to predict that the increase in rental rates of Andorra properties will continue to grow and, hence, its future profitability. A fact that from And.immo we consider that it should not go unnoticed among investors who seek to diversify their businesses that invest in real estate in Andorra.
Waiting lists and rents at 15 € per square meter
As indicated in the various media, in recent months the real estate sector has registered important waiting lists in Andorra for rent, especially in the central parishes. This situation, which has increased in the last six months, is even worse with regard to specific areas, which are in high demand, such as the lower part of Carlemany Avenue.
In places like these, when demand soars and scarcity increases, there have been ongoing price ranges, to the extent of the 30% increase in less than two years. the real estate industry predicted that the floors that are currently near the 500 € threshold will increase to more than 700.
The rise in prices is also observed from AGIA
Meanwhile, the chairman of the AGIA Jordi Galobardas recognizes “that there is some growing tension,” but said that “there will not be a dramatic increase”. In any case, pointed out that despite the rising prices of apartments for rent, “this shows that we are at the beginning of the economic recovery, because the first product visible is in the properties of location”
As far as the profile of the most requested properties are from 80 to 100 square meters, with three bedrooms and two bathrooms, is what builds a more waiting list. “Properties that meet these qualities have significant waiting lists”
Sources: Diari Andorra and Agia