At the rate of before the economic crisis. This is how the real estate sector in Andorra has grown over recent years. A positive trend that is not based solely on the perceptions of real estate agents, but is a palpable reality, which is more than contrasted with the current balance of economic indicators collected in Andorra during 2017.
In this way, with a net creation of 490 new businesses (987 new openings for 497 closures), 2017 has been closed with the best historical figure of registrations and cancellations of establishments registered in the commercial register, being the real estate sector the one that has grown the most, with an increase of more than 15% over the previous year. Globally, the real estate and rental activities represent a total of 2,000 businesses, a figure that represents 22% of the total number, set at 8,837 establishments at the end of 2017.
“Very good prospects and real business opportunities”
As we have indicated previously, this favorable context is also evident among professionals in the real estate sector. In this sense, from AND.IMMO it can be seen how the economic recovery in Andorra, but above all in the neighboring countries, is leading to a notable increase in real estate transactions. Thus, according to the founding partner of And.immo, Jaume Bartumeu, the Andorran real estate sector offers “real business opportunities for the small saver”, since as indicated, “currently the purchase of real estate provides an average return of more than 3%, a figure considerably higher than the yield offered by a bank for our money”.
Real estate investment in Andorra, a safe value
Unlike other much riskier investment operations, real estate investment has become a safe haven, since it allows savers to obtain a certain return without having to put their capital at risk. “The purchase of a property is a tangible value that usually brings more value than having the money deposited in a bank,” says Bartumeu.
Comparable trend to that of other neighboring countries
Just as has happened in Andorra, the Spanish real estate sector has also observed a growth cycle, closing 2017 with an increase of 14.6% on the purchase of property, the highest rate since before the crisis. Thus, during 2017 the sale of 464,423 homes was formalized, only in Spain, the highest figure since 2008, just before the real estate bubble burst.