To buy an apartment in Andorra, the prices are between 3,000 and 6,000 euros the square metre. That depends on various parameters, in particular the location of the building (commercial or tourist area are more expensive). These prices are not excessive, especially in a tax shelter.
Indeed, to invest in Andorre are of unquestionable interest, because of an advantageous taxation ( % income or profit tax). The global rate for taxes and social wellfare represents less than 20% of the P.I.B (in France, it is higher than 43%). For the employers, the social contributions is 18% of the salary paid to the employee.
In a country which does not know VAT, the prices of the manufactured goods are obviously, less expensive than in France or Spain. With equal income, the Andorran citizen and the foreign people who live in Andorra thus profit from a higher purchasing power. The monthly average wages in Andorra are between 1,800 and 1,900 euros.
Lastly, stay in Andorre is of many other interests (natural life, far from the stress of the big towns).
The rental market is also, rather cheap: For a 100 m2 apartment, the monthly rent is approximately 800 euros. Attention, we do not speak here, about the seasonnal hirings, but about the yearly onses. The hirings of holidays in Andorra represent an other market, more sensible to the seasonal variations (periods of school holidays, or ski periods).
To buy or sell an apartment or a house in Andorra, the local real estate agencies will be your intermediaries. They are located in the most important urban areas of the Principality, in particular in Andorra-la-Vella. The administrative formalities are relatively simple in the principality where in addition, the banking system is powerful.
Some addresses of Andorran real estate agencies:
- Orada Agency. The Orada agency, established since 15 years on the Andorran market. Address: Passatge Antonia Make Caminal, N° 1 Office 502 AD700 - Escaldes Endorgany Andorra. site: http://www.oradaimmobiliaria.ad
- Agency On. The agency On carries out all transactions, sale or purchase of real estate on the territory of the principality. Address: Prat of Creu N° 59/65 AD500 Andorra la Vella. Site: http://www.onviure.ad
- Casaviva Agency. The agency Casa Viva is specialized in the purchase and the sale of all real products (apartments, houses, grounds) in Andorra. The agency proposes its consulting services to ensure the success of your transaction. Address: C Prat of Creu N° 57 AD500 - Andorra la Vella. Site: http://www.casaviva.ad