Real estate market review: Andorra. CONS & PROS

The main plus when buying property in Andorra by residents or non-residents of the principality is the absence of taxes on it. The only payments are contributions to the administration of the local Comu districts and usually they do not exceed €100 per year for a chalet with an area of more than 500 m. In neighbouring Spain, taxes (El Impuesto sobre Bienes Inmuebles or IBI) vary from 0.4% to 1.3% of cadastral value of housing and depends on the locality and the number of inhabitants. There is also a state tax (from 0.2% to 2.5% of the cadastral value)—it is paid if the value of the property is more than 700 thousand euros. More