I installed Android Studio alongside to Xamarin Visual Studio (was already installed). After the installation (excluded SDK, because they were already installed) I started Android Studio and it downloaded, installed and added missing SDKs (after giving the path to the SDK location). As a result I got the error message on build
java.lang.UnsupportedClassVersionError: com/android/dx/command/Main : Unsupported major.minor version 52.0
As a solution I installed jdk-8u101-windows-i586.exe
without JRE (because it was already installed). Before I tried the x64 version, but it disappeared ... Then you have to change the Java Development Kit location.
This is done in Visual Studio by clicking Tools > Options > Xamarin > Android Settings. Here you can navigate to the correct location. In my case it was C:\Program Files (x86)\Java\jdk1.8.0_101
.
Finally, clean your project and make a new build :-)