Andorra has launched the allocation system to acquire or lease multi-family buildings, for hotel use or real estate, to allocate affordable housing to the market. The program will allocate unused properties, which it will buy or rent, to put them up for rent and thus create a public housing stock of affordable housing.
At the moment, seven offers have been received under the sale modality, with an estimate of 125 homes, and four offers to lease, with 61 homes. In the case of the purchase, the purchase transaction for five buildings (86 homes) has already been awarded for an amount of 10.6 million euros. Regarding the lease, four buildings (61 homes) have been awarded for an amount of 6.6 million euros, which will allow rentals of between 30 and 50 years.
In total, in this phase, there will be 147 homes that, after the relevant rehabilitation process, will make up the new public housing stock that will be managed by the Institut Nacional de l’Habitatge. The expected cost of renovating properties, both for purchase and for lease, will amount to 11.6 million euros.
Two buildings that opted to form part of the available housing network and that would have contributed 39 more floors to the plan are left out of the initial plan. Given the interest of the Administration to proceed with its acquisition, the possibility is being considered that in this new legislature the Government of Andorra can carry out the purchase thanks to an extraordinary credit of 11.8 million euros.
With this next acquisition, and with the housing plans of the Andorran Executive, the idea is that the public stock of affordable housing will have 310 properties. For this, it will be essential that the 44 homes of the future public housing building in Borda Nova, the 42 homes in two blocks of flats in La Massana and the 36-40 properties that would be added thanks to the building under construction in the Avenida del Pessebre, in the town of Escaldes-Engordany.
