Real estate investment in Andorra

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

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

Investment real estate in Andorra

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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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Taxes and associated costs

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

Property investments

Status

Obtaining time

Malta11 properties

€375,000+

Permanent residency

6+ months

Show 11 properties

€375,000+Permanent residency6+ months

Grenada21 property

$270,000+

Citizenship

8+ months

Show 21 property

$270,000+Citizenship8+ months

UAE127 properties

AED 750,000+

Residence permit

2+ months

Show 127 properties

AED 750,000+Residence permit2+ months

Spain36 properties

€500,000+

Residence permit

5+ months

Show 36 properties

€500,000+Residence permit5+ months

Portugal72 properties

Not limited

Residency after D Visas

6+ months

Show 72 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.

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

Updated:

24 December, 2024

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.