The Head of Government of Andorra, Xavier Espot, and the Consul General of Andorra la Vella, Conxita Marsol, signed a memorandum of intent to build “affordable housing” in the Principality. However, the price per square meter is unclear.
The National Housing Institute – a specially dedicated body – will set the prices. Based on these recommendations, the government will determine which apartments will be moderately priced and become part of this social program.
To begin with, a building of 44 apartments will be constructed. Followed by a building with approximately 60 additional apartments.
A land with an area of 2822 square meters has been allocated, between Terra Vella Street (Carrer Terra Vella) and Borda Nova (Passatge Borda Nova) in the capital of Andorra.
The first floor of the buildings will be designated for the administration of Andorra la Vella for public interest use.
The first phase also provides for the construction of an underground car park with 233 parking spaces.
It is estimated that the buildings are to be constructed by 2023.
According to the Head of Government of Andorra, the 2020 budget provides a subsidy of 4.2 million euros for this project.