Due to the complete freedom from any currency control properties may be priced in any currency at the discretion of the vendor. The selling price may be shown in either Euros or Sterling or any other currency. Any conversion rates quoted are for general guidance only and rates should be checked with the local banks.

Property Purchase

As only 8% of the total area of Andorra is available and suitable for development there are restrictions on the amount of property a foreigner can own at one time in his own name, until such time as he/she has completed 20 uninterrupted years as a resident. At present this is one unit of property: one apartment, or one plot of building land for a private house (the size of the plot not to exceed 1,000 m2), or one house already constructed on the plot of up to 1,000 m2. For the purpose of property purchase and registration a husband and wife count as a joint entity: children over the age of 18 years however may have property registered in their name. An Andorran entity, either a company or an Andorran citizen, is not restricted in any way as to the amount of property they can own.

While a property may be reserved verbally, the first commitment is made when the buyer places a 10% deposit with the selling agents: this is non-returnable if the buyer subsequently withdraws from the transaction on unreasonable grounds. At that time a purchase agreement can be signed between buyer and seller. More normally a receipt for the deposit will be given and after a delay of about six weeks a purchase contract will be signed in front of a notary public. The notary is a Government appointed official who acts impartially to safeguard the interests of both parties. At the time of signing, payment of the balance of the purchase price is made and the title deed or escriptura is issued. Prior to this, Government approval to buy will have been sought by the selling agents who will have presented a sol.licitud (request for the approval of purchase) for the buyer. Completion normally takes some four weeks to arrange.