Are you planning to buy an apartment in Andorra? According to the real estate laws in Andorra, buying a property here is quite simple. Even non-residents and foreigners are also allowed to invest in the properties of this country. Here the transaction of properties are authorized by the AGIA Andorra, therefore the prices of the properties reflect the actual market value.
The principality of Andorra offers some unique locations where you can buy the properties like apartments in Andorra La Vella Center. Besides, the real estate agents of this country are well aware of every part of this country and therefore they can help you in exploring the best places to invest in real estate properties. These agents can also help you in selecting the apartments that suit your requirements and needs in the best possible way.
The real estate market prices of Andorra are highly competitive these days compared to the market figures of France and Spain. Moreover, Andorra is considered the tax haven for people. So, before you invest in the properties in this country or decide to shift to this country, you should have a clear idea about how many taxes are paid in Andorra. Apart from that, you should also have a clear idea of the business tax returns file in Andorra before buying an apartment in Andorra.
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Now let’s have a look at the process of purchasing a real estate property or an apartment in Andorra. The entire process includes three steps, which are:
1. Signing and reserving the property
2. Preparing and managing the public deed
3. Signing of the contract
Here the investor has to pay the property purchase tax to the Andorran government that includes 4% of the final sale value of the property for the acquisition. This tax is therefore divided into two sections, 2% for the local government as ‘Impost de Transmissions Patrimonials’ and another 2% for the local ‘Comu’. Besides, here the buyer needs to cover the notary fees regarding the purchase. It usually includes the fees based on the fixed amount included in the total property sale value.