On a different thread/topic another user asked me about a property I bought in Andorra, so i thought it would be better to just start a new topic/thread.

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Andorra is really straight forward to buy in.

You see a place you like, make an offer through the agent and if accepted they will arrange all the legal work.
You are suppose to put a small holding deposit down when a price is accepted, this takes the propErty off the market.
The estate agent will introduce you to the local bank and they will take you through the mortgage application, its only about 2 pages long...so really easy. I took a mortgage out as it was a new country for me and i thought it was better to have a bank behind IT, maDe things feel safer. LTV is 60/70%.

The bank i use is Credit Andorra, in La Masanna and the apartment i bought is in Arinsal. Arinsal is cul-de-sac type of town and is a nice place to go not only in the winter for the skiing, but also in the summer.

Happy to answer more of your questions.

so do you see it as a holiday rental. Andorra is quite a good place for tax exciles. My guess is there is a good rental market for people wnating to stay that way in Andorra.

the holidays rentals are not great, but the AST periods are either 6 months or 5 years.....so good long term rentals...but no profit in it.......also a new law prohibits private apartments being put on the holiday rental market...so you cant use the local agents there to rent it..unless its an aparthotel (which is what i bought).

i dont rent mine out, except to family and friends

i really see it as a pension, the mortgages are repayment type....based on a 10 year plan.

So in 10 years i will have a fully paid off property that has hopefully doubled in value by then and no tax to pay on it when i sell.

good time to buy there now....the knock on effect of the spanish market has caused a ripple....my place has not increased anything in the last year......but its a long term thing and its a great place to go for a few days....flights to toulouse or barcelona are cheap and its a scenic drive.

The info sites say it is 3/4 hours from barcelona and toulouse, 2 hours max...lots of new tunnels and motorways, i was late for a flight once and done it in an hour to barcelona and toulouse in an hour an a half....good roads ish.

Hi Irishhombre,

Are you still spending time up there in Andorra? We spent some time up there last winter and just loved it - coming up in March looking at buying a 3 bed flat or maybe a house that need some work. Do you get a feel for the market; is it heading up still or down?

Your thoughts please!

Bendecko