Andorra Property Sales 2023
- elizabethhelenpier
- Dec 16, 2024
- 3 min read
Updated: Mar 8
Three times a year, the Andorran government publishes a report on property sale transactions and prices of square meter sold during that period. They then complete the year producing a final annual report on property transactions. Given the difficulty accessing these reports and the fact that the full reports are written exclusively in Catalan, we thought it would be useful to give a biyearly summary in English on what is officially published by the government about Andorra property sales. These statistics are written to understand the scale of property buy-sale transactions in the country. This means the figures are looking at the global average of all transactions, of all money passing hands and all the square meters sold, and not looking at individual sales in 2023.
What to consider before looking at the figures?
a. The figures below are looking over a one to two year period, if you want data on price per square meter sold in Andorra going back further over the years, please read our blog post: 10 years of property prices in Andorra
b. If there is a lot of new construction taking place, this will influence the figures the year or two following. This is because new builds are sold at a premium price and will therefore increase the average price per square meter if sold in large quantities together.
c. If there is a lot of luxury construction being built, as above with new construction, this will influence the figures the year or two following. This is because luxury builds are sold at far above the median price range.
d. Not the historical norm, but the selling of large amounts of old property will of course have an inverse effect on the figures and cause the average prices to drop.
e. A decrease in the quantity of property sales will correlate to the total value of property sold, ergo it will drop the latter figure and vice-versa for increases. If the percentages are not similar, this is due to the price per square meter increasing or decreasing that year, or the type of property being sold changing that year.
Statistics of Andorra Property Sales in 2023
Andorra property sales decreased in 2023 by -12.1% compared to 2022. The parish of La Massana saw the biggest decrease in sales transactions, while Sant Julià de Lòria saw property sales increase by +12.5% compared with 2022.
Regarding the total value, there was a drop of -3.8% of the total value of all bought property compared with 2022. In the parishes of Ordino and Encamp we see the total value drop by -65.4% and -28.1% respectively. This likely accounts for the smaller quantity of sales overall in these parishes in 2023 compared with 2022. In all other parishes, we see an increment of the total value of Andorra property sales.
When looking at the sold price by square meter, as seen below in the table and graphs, we see an increase of 10.2% in apartments and 113.3% of plots of land in 2023. Concentrating on the different Andorran parishes we observe the price per meter squared increase by 28% in Canillo, 19.6% in Sant Julià and 15.9% in Ordino, compared with 2022. The parishes where the price per square meter dropped was in Encamp (-4.4%) and Andorra la Vella (-0,8%) in 2023.
Lastly, looking at the sold price of the square meter of Andorra apartments and comparing this annually, we can see a continuous increase over the 4 years previous to date (2023-2024). We entered 2024 with a less substantial hike than what was seen the 3 years previous but still with an increase, hitting for the first time in Andorran history €4092.40 per square meter in the first trimester of 2024. For more detailed information on 2024, please have a look at our blog post Andorra property prices 2024.
