Buying Property in Andorra
Are you interested in buying a house or apartment in Andorra? As laws regarding real estate transactions are relaxed, buying a property in Andorra is very simple. Foreigners and non-resident companies are allowed to buy unlimited real estate in Andorra.
Houses transactions are authorized by AGIA Andorra, thus the Andorra property price reflects the real market value. Read our guide to buying real estate in Andorra and contact us for a consultation!
Property Buying Process in Andorra
Foreign investors can buy commercial and residential properties in Andorra without limit with authorization from the Andorran government. Properties can be reserved verbally with the seller as an act of good faith until the investor receives this document.
The authorization called “Autoritzacio d’inversio estrangera en immobles” is relatively easy to obtain and usually takes fifteen days or less. This document must be completed in French, Spanish, or Catalan (or another language accompanied by a certified translation).
Note: For non-residents commercial real estate must be used only for their own authorized commercial activity.
- Once the non-resident has acquired the “Autoritzacio d’inversio estrangera en immobles”, the sale can proceed.
- The buyer pays 10% of the agreed purchase amount for the property as a deposit. This deposit is non-refundable to avoid abandonment of the real estate transaction without reasonable grounds.
- A notary will supervise the purchase of the property and on the day of the signing, the buyer will prove that he has made the remaining payment for the property. The change of name of the deeds ‘Escriptura Publica’ will be delivered to the investor.
- At the same time, the seller of the property must deliver the ‘Certificat d’habitabilitat’ made by a registered architect. This document states that the property meets all the legal requirements to be classified as “habitable”.
Andorra Real Estate Taxes and Notary Fees
The buyer must cover in full the notary fees related to the purchase. This normally consists of a fee based on a fixed amount added to a percentage of the sale price of the property. It is usually between 600€ and 1300€ + 0.1% of the sale value of the property.
The investor must pay the property purchase tax to the Andorran government which consists of 4% on the value of the final sale agreed for the acquisition of the property. This tax is divided into two parts, 2% for the local ‘Comu’ and the other 2% for the local government as ‘Impost de Transmissions Patrimonials’.
Buyers of property in Andorra have to pay the tax through banks in Andorra with sufficient funds for this purpose.
Can Foreigners Buy Property in Andorra?
Yes! Non-residents can purchase properties in Andorra without any limitations. Foreigners need to apply for authorization from the government of Andorra, though they exclude commercial property which must be used by their own company or other business organization.
Buying house or apartment in Andorra
Location: where to buy a property in Andorra?
Whether you know Andorra or have only visited Principality, where to buy a property is the first question you should answer.
The Principality of Andorra offers unique locations that only experts know. Andorra Partner connects you with a team of multilingual real estate agents knowing every corner of Andorra. With absolute professionalism and discretion, they will be able to show you the properties that best suit your tastes and needs, whether you are an individual or a company.
What property to buy in Andorra: house, apartment, or a villa?
Depending on your needs and lifestyle, we will guide you in your decision to buy a property in Andorra.
What is your budget?
Today, Andorra’s real estate market prices are very competitive compared to the figures of markets as close as Spain and France. A team of real estate managers will show you a wide range of properties suitable for your budget, always taking into account your additional requirements.
Formalities of the purchase process
In the Principality of Andorra, as in neighboring countries, the procedure to buy a property consists of 3 steps:
- Signing and reservation of the property.
- Management and preparation of the public deed
- The signing of the contract
During the purchase process and after the purchase, we will always provide you with personalized advice on any questions you may have. In addition, the Andorra Partner’s team of professionals specialized in tax, financial, insurance, and immigration matters will be able to assist you at all times.