Property Investment in Andorra as a Foreigner

To buy property in Andorra, a foreigner needs to obtain government permission.

Statistics confirm the liquidity of investments: every quarter, residential real estate prices grow by an average of 1.5%. Seven years ago, an apartment of 100 m² cost an average of €273,000, and today it is sold for €460,000.

€4,600

Average price per 1 m²

€551,500+

Real estate investment for residency

4.5—5%

Associated costs, of the property value

How the residential property price index is growing in Andorra

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Cost of a 3-bedroom apartment in Andorra

€2.5 million

Penthouse with a terrace in Andorra la Vella, next to Avenue Carlemany

€1.8 million

Apartment in Andorra la Vella, next to Avenue Carlemany

€400,000

Apartment in Encamp

Real estate in Andorra

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Andorra, Escaldes-Engordany

€1,179,000+

Elegant apartments, Escaldes-Engordany
square icon148 m²
bed icon3
bathroom icon2
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Andorra, La Massana

€810,000+

Apartments in traditional style, La Massana, Andorra
square icon100 m²
bed icon3
bathroom icon2
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Andorra, Escaldes-Engordany

€1,490,000+

Elegant penthouse, Escaldes-Engordany
square icon118 m²
bed icon3
bathroom icon2
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Andorra residency or citizenship by real estate investment

Buying property in Andorra leads to obtaining a residence permit. The minimum investment is €600,000, with at least €48,500 to be allocated as a deposit and the rest of the sum to be invested, for example, in local real estate.

The investment can be recovered after the residence permit expires or when the status is no longer needed.

Minimum real estate investment in Andorra

€551,500

Investment share on purchasing a property

No additional requirements are imposed on the property, apart from its cost.

The investor is also required to prove an annual foreign income of 300% of the Andorran minimum wage, which is €13,460. Therefore, a single applicant demonstrates at least €40,380.

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Discover real estate market trends in 41 European countries

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Taxes and associated costs

Purchase taxes

Buyers pay a property purchase tax and a notary fee.

The property tax rate depends on the type and quantity of the purchased real estate:

  • 3% on one apartment or land plot;

  • 5% on two to five properties;

  • 8% on six to nine properties;

  • 10% on ten or more properties or if purchasing two or more land plots.

Associated costs range between 4.5 to 11% of the purchase agreement value.

When buying an apartment for €500,000, the investor will spend €525,000, including additional costs.

Property purchase tax for foreigners3—10%
Notary fee0.5—1% — depends on the transaction amount

Ownership taxes

Andorra has no annual property tax and no wealth tax.

If the owner leases the property, they pay a 10% tax on rental income

Electricity, gas, water, heating, and garbage collection€120—200 per month
Internet, TV and telephone€70—80 per month

Sale taxes

If the real estate seller has owned a property for less than 15 years, they pay a capital gains tax of 1 to 15% on the difference between the sale and purchase prices.

Capital gains tax — paid on the difference between the sale and purchase prices0—15%, depends on the ownership period
Agency fee — the law requires transactions to be made through a realtor5—10% of the transaction amount

Countries to buy a property and get residency or citizenship

We offer proven properties that comply with the conditions of government programs for investors. You can buy real estate and obtain a residence permit or citizenship.

Country and status
Investments
Status
Time required
mt-flagmt-flag
Malta29 properties

€375,000+

Permanent residency

6+ months

Show 29 properties

€375,000+Permanent residency6+ months
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Grenada44 properties

$270,000+

Citizenship

8+ months

Show 44 properties

$270,000+Citizenship8+ months
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ae-flagae-flag
UAE158 properties

AED 750,000+

Residence permit

2+ months

Show 158 properties

AED 750,000+Residence permit2+ months
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es-flages-flag
Spain38 properties

Not limited

Residence permit

4+ months

Show 38 properties

Not limitedResidence permit4+ months
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pt-flagpt-flag
Portugal68 properties

Not limited

Residency after D Visas

6+ months

Show 68 properties

Not limitedResidency after D Visas6+ months
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40+ guides with European countries

Find out how much it costs to buy and rent real estate in each country, what the market dynamics are and what taxes you need to pay when buying and selling.

cy-flagProperty Investment in Cyprus as a Foreigner

The Republic of Cyprus restricts selling properties to foreigners: a non-EU citizen can buy no more than two properties and need a...

€2,700

Average price per 1 m²

€300,000+

Real estate investment for residency

Learn more
ba-flagProperty Investment in Bosnia and Herzegovina as a Foreigner

The sale of real estate to foreigners is not restricted in Bosnia and Herzegovina: one can buy, lease and sell housing and commercial...

€1,177

Average price per 1 m²

1,5%

Average price growth per quarter

Learn more
tr-flagProperty Investment in Turkey as a Foreigner

Foreigners in Turkey can buy and sell housing and commercial real estate and rent it out. Statistics confirm the liquidity of...

$777

Average price per 1 m²

$400,000+

Real estate investment for citizenship

Learn more
Igor Buglo

Material prepared by Igor Buglo, Head of the Maltese office, MBA

Updated:

​Frequently asked questions

  • Can foreigners buy property in Andorra?

    Yes. But they need to obtain a permit from the Andorra government.

    By buying real estate, foreigners have the right to obtain an Andorra residence permit and move to a country with a favourable tax climate.

    Andorra’s real estate is a liquid asset: on average, prices grow by 5% per year. When an investor decides to sell their real estate, they will not only return the investment but also make a profit.

    Investors can also receive additional income when renting out their real estate — 3 to 10% per annum, depending on the type and location of the property.

  • How much does an apartment cost in Andorra?

    Real estate prices in Andorra are lower than in neighbouring France. The average cost of 1 m² of housing is €4,600. Real estate prices in Andorra grow by 1.5% every quarter.

    Foreigners commonly buy property in the capital of Andorra la Vella. An apartment next to the main shopping street — Carlemani Avenue — will cost the investor 1.8 million euros, and a penthouse — 2.5 million euros.

    In the small town of Encamp, prices are lower: you can find an apartment worth about €400,000.

  • Where is the best place to live in Andorra?

    There are seven regions in Andorra, which are called parishes or “parrocchie”. The capital city of Andorra la Vella is the most popular parish with developed infrastructure and busy life. It’s also the most popular region among real estate buyers.

  • Are there property taxes in Andorra?

    There’s a 4% transfer tax for purchasing real estate. Landlords pay a 10% tax on rental income.

  • Is rent cheap in Andorra?

    Rent in Andorra is not particularly cheap, but it’s generally more affordable than in major European cities. Rental prices depend on the location, size, and condition of the property. 

    For a one-bedroom apartment in Andorra la Vella, rents typically range between €800 to 1,200 per month. In smaller towns or rural areas, rents can be lower, around €600 to 900 per month. Larger apartments, especially in popular areas, can cost between €1,500 and 2,500 per month or more.