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Housing in Andorra

Buying a Property

There are restrictions on non-resident foreigners buying property. A permission to purchase is required, and a non-resident individual can acquire no more than 1,000 sq m, or if purchasing an apartment, one unit.

When an agreement has been concluded, the buyer and the seller sign and exchange copies of the 'Promesa de compra-venda' (promise to buy and sell), which outlines the conditions of the purchase, such as payment terms and completion date. A 10% deposit payment is customary at this point.

The deposit is then put in an escrow account by the agent while a “permission to purchase” (suplicas) request is submitted to the government. Once permission has been obtained, an appointment is sought with a notary.

At the Notary’s office, both parties sign the 'Escriptura Publica', the property transfer document. Cheques or bank drafts and keys are then exchanged.

Completion, for resale properties, takes about one to two months.

When purchasing a condominium property in Andorra the owner, apart from acquiring the freehold title for the apartment, also becomes co-owner of all the common elements in the building, the plot of land on which the building is erected, the public entrance halls, staircases, lifts and elevators etc. The costs of maintenance of these elements are paid proportionally by the various owners in the building. A typical community charge for a studio might be €600 and a 3 bedroom flat €1,200 per annum.