Life
Discover the information you need to buy a house in Andorra and make your dream of living in this beautiful country come true!
The Andorran real estate market
Acquiring real estate is one of the most complex decisions that can be made, given the cost of it and the different implications that it may have in the future. However, whether to live in it or as an investment vehicle, Andorra is a very attractive destination for buying a property.
To enjoy life in Andorra is to do so in a privileged place, located in the heart of the Pyrenees and surrounded by nature. Despite this, Andorra offers the advantages and services of a city and the warmth and security of a village, offering the inhabitants a quality of life that is difficult to beat. Likewise, its proximity to cities such as Barcelona, Toulouse or Girona, as well as the Mediterranean Sea, make Andorra a unique place to live.
It should be borne in mind that having a property as an owner or tenant is one of the requirements to be able to reside in Andorra in any of its types of residences.
What real estate can you buy in Andorra?
The Andorran real estate market offers a plurality of properties, of different sizes, prices and locations, which will adapt to your needs and preferences.
In addition, although there is a wide range of properties that are a few years old, the country is carrying out an important strategy of building new properties through a multitude of real estate developments that have been developed in Andorra in recent years
1. Find your location
The different parishes in Andorra can offer you different things, adapting to the needs of your day-to-day life. Likewise, you can find a multitude of properties away from the most inhabited areas, where you can enjoy tranquility and total immersion with nature.
2. What type of property do you need?
Whether it is a large or contained property, the real estate market in Andorra can offer you a multitude of houses and flats that will adapt to your tastes and needs.
Real estate investments in Andorra
Investing in Andorra has always been a beneficial option for any wealth, although we are currently at an ideal time to do so.
The market, which is in an upward phase, offers a plurality of properties that can be acquired as an investment, which will see their value increase in value in a few years, as a result of the limitation of developable land in the country.
Andorra is a country that welcomes tourists all year round, attracted by its ski slopes, year-round sports, culture, climate and quality of life. In addition, many people decide to establish their residence every year in the country, attracted by its standard and quality of life, because of its economic and fiscal level.
For this reason, the demand for rental properties is constant throughout the year, being a guaranteed investment for those who decide to have a property to rent it.
It is also worth remembering that owning a home can be a key step towards obtaining passive residence in the Principality of Andorra, given the need to make a minimum investment of €350,000 in the country.
Frequently asked questions
Yes, to obtain residency in Andorra it is necessary to have an address in the Principality both for rent and purchase, so it is highly recommended to start the search as soon as possible. (See residences)
In case you are not a resident:
- Contact a professional authorised by the AGIA (Andorran Real Estate Agents and Managers) to verify that the property is in accordance with market prices in Andorra (See real estate agents). This step is recommended but not essential.
- Obtain authorization from the Government of Andorra for non-residents by foreign investment. This step is a must-have and is relatively simple to do. You can obtain such authorization here.
Do you need help from our professionals? (We'll advise you). - Make a down payment or earnest money contract.
Do you need help from our professionals? (We'll advise you). - Go to the notary to make the deed of sale. In Andorra there are currently 5 notaries and they will supervise and validate the transaction.
- Obtain the certificate of occupancy issued by an Andorran architect that would have to be given to you by the selling party.
- Pay the corresponding taxes. In Andorra the purchase of the property is taxed at 4% of the purchase value of the property, this corresponds to the Real Estate Transfer Tax (ITP).
- Pay notary fees. Normally this expense corresponds to a fixed rate plus a percentage of 0.1% of the value of the property. Normally this expense ranges from €600 to €1,300 + 0.1% of the purchase price of the property.
- Keep in mind that all these operations will have to be done and settled with Andorran banks, as a consequence it is advisable to have an account opened in an Andorran banking institution (see Banks).
- And you will have your new residence in one of the countries with the best quality of life in the world.
In case you are a resident:
If you are a resident in Andorra, the steps will be the same, you will not need the foreign investment certificate and you will have a better understanding of the market prices of real estate in the country.