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Real estate in Europe 2018

Real estate market review 2018: Andorra.

“PROS” and “CONS”. The major advantage of owning real estate in Andorra by both residents and non-residents of the Principality is the absence of taxes for that. The only payments are the fees to local Comu administrations that do not surpass the annual limit of 400 euro for 500 m2 chalet. In neighbor Spain the tax for the analogue property can make up to 3000 euro annually, depending on the region.

Besides the owner of the property that costs more than 350 000 euro can apply for Andorran residence.

One more advantage of acquiring the property in Andorra is favorable geographical location of the Principality, its closeness to Barcelona and Toulouse as well as to Madrid, Biarritz and Cote D’Azur. In the beginning of 2015 the airport, that is located within 10 minutes driving distance from the border with Andorra (on the territory of Spain), was opened for the low cost flights to Barcelona, Madrid, Toulouse, Lisbon, Canary and Balearic Islands. The flight from Barcelona will take no more than half an hour.

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