Andorra Approves Eight First-Home Guarantee Applications
The programme has greenlit eight requests with average property prices of €407,375 and subsidies of €58,047, eliminating down payments for eligible.
Key Points
- Eight approvals: one in December, seven on Thursday.
- 15 total requests: 8 approved, 2 rejected, 5 pending.
- Average property price €407,375; subsidy €58,047 per beneficiary.
- No down payment needed; eligibility requires residency, no other property, asset limits.
Andorra's first-home guarantee programme has approved eight applications, including seven given the green light at Thursday's Council of Ministers meeting, government minister Guillem Casal confirmed.
The programme has received 15 requests since its launch. Of these, eight have been approved—with one granted last December and the rest recently—while two were rejected and five remain under review. Approved properties have averaged €407,375 in purchase price, with average interest subsidies of around €58,047 per beneficiary, according to the latest figures.
Casal highlighted that the state provides a 100% loan guarantee for the first seven years and covers the interest payments. This structure eliminates the need for buyers to make a down payment on their primary and permanent residence.
Eligibility criteria include proving minimum residency in Andorra, owning no other property, and meeting asset limits. Applicants must first contact a bank with documents such as their CASS points statement, latest IRPF tax return, and a property valuation. Valid requests are processed in order of arrival until the fiscal year's budget is depleted.
No timeline has been given for the pending cases or reasons for the rejections.
Original Sources
This article was aggregated from the following Catalan-language sources: