Seasonal Price Fluctuations on Andorran Property
- elizabethhelenpier
- Dec 4, 2024
- 3 min read
Updated: Mar 8
We discuss in detail Andorran property price fluctuations over the last 10 years in our 10 years of house and property prices in Andorra blog post, nonetheless we thought it would be interesting to also have a look at the quarterly price changes over the last 5 years. Our quarterly price analysis will answer the question do property prices fluctuate in winter or summer in Andorra? And when is the best season to buy property in Andorra, winter or summer?
In this chart below we include data of just apartments and the price per square meter of such. We are looking at the price fluctuation between the seasons; winter, spring, summer and autumn, on Andorran property.
As you can visualise, Andorran property prices are slightly affected by the seasonal changes. In the autumn-winter period (October-March) there is a more significant hike in prices per square meter than compared with the spring-summer period (April-September). There could be a reason for this however. Firstly, a lot of new builds are completed in summer and autumn as this is the period of high construction due to the dry climate during these months. They are then sold off for the autumn-winter period. As new builds are sold at a premium it would not be surprising that the prices always seem to peak in these seasons coinciding with the end of their construction. Secondly, buy-sale contracts for secondhand property get signed around 3 months before the sale. This means summer is the time when higher offers were made for autumn sales, and autumn is when offers are made for winter sales. This coincides with the tourism influx in summer, and people’s mentalities changing towards winter and the possibility of buying a ski apartment in autumn.
These are all theories, however. 2024 price fluctuations are not following the precedent of years previous so far so we will have to see what the future holds.
What is more consistent is the drop of an apartment’s average per square meter price coming into spring-summer. This coincides with the slight drop we see in the rental prices yearly in spring. Every winter Andorra opens its doors to approximately 5000 temporal workers in the winter which causes a ripple effect of price hikes on the entire rental market given the big increase in demand during this period. On the other hand, when the temporal workers leave in spring, the rental prices begin to drop as a consequence of lower demand. This same wave of price fluctuations is seen in the buy-sell property market also it appears.
If you are looking at buying Andorran property and want to get the most of your money, we would first suggest buying sooner rather than later given Andorran property price increases continued well into the winter of 2024-2025. In terms of the best time to negotiate a good price, history tells us it should be spring!
