Hamptons has struck a deal for its name and brand to be used in a new overseas territory – and in doing so it has highlighted a potential investment hotspot.
The agency Roc Propietats is based in Andorra, and will use the Hamptons name in future.
Andorra, is one of the smallest countries in Europe, nestled between France and Spain in the Pyrenees mountain range. Known for its favourable tax rates, Andorra offers a peaceful location with virtually no crime, high quality of life, access to striking mountain landscapes, winter skiing, year round nature and fresh air, without losing out on city life. It has one of the highest life expectancies in the world.
Leal Ignatius, head of Hamptons International, says: “There has been growth of interest in Andorra’s real estate, in particular amongst high earning professionals and younger, self-employed individuals looking into residency. Our longstanding experience over decades covering the Prime Central London and Prime Country markets and more recently, with Hamptons new Private Office Department, we are able to ensure that we present tailored service and solutions to these parties.”
Christian Muñoz of Roc Propietats adds: “The scarcity of development space in Andorra safeguards property values, substantiating a solid investment proposition. The typical rental yields in Andorra swing between an attractive 3% and beyond 5%. Furthermore, the robust tourism sector, contributing at least 60% to the nation’s GDP, attracts over six million visitors a year, enjoying the mountains and our duty free shopping year round. All affirming factors that there is merit to invest in Andorran property, although non-resident foreign purchase is subject to authorisation from the Andorran government and there is a new tax law on foreign investment.”
