Andorra Property Prices 2024
- elizabethhelenpier
- Jan 2
- 3 min read
Updated: May 15
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 prices. 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 2024.
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 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 Prices in 2024
Property sales began slowing down in Andorra in 2024, with an overall -11.7% decrease in the number of property transactions compared with 2023. The only parish where an increase in the sales transactions occurred was Andorra la Vella (+18.4%) and Sant Julià (+6.5%). On the other hand, the most noticeable drop in sales was seen in Canillo (-22.9%) and Escaldes (-32.5%). The total number of property sale transactions in Andorra in 2024 was 1608.
Despite the total number of buy-sale transactions dropping significantly in 2024, the same cannot be said regarding a drop in the price of property, rather prices continue to rise in 2024 and even into 2025.
When comparing the different parishes, Andorra la Vella and Escaldes continue to be the most expensive in 2024, likely due to the many new build constructions completed in 2024 in these areas. The average price per square meter sold was €5101.90 and €5407.90 respectively. On the other hand, Sant Julià dropped to last position in the price rankings with an average price per meter squared of property sold of €2584.50 in 2024.
Concerning the changes in price per square meter of apartments in each quarter, we observe a slight drop of price/m2 sold starting in the fourth quarter of 2023, and then an increase in every quarter following in 2024. For more information on the quarterly price shifts that are related in part to our seasons, please see our blog post Seasonal price fluctuations on Andorran property.
Overall, the real estate market slowed down in 2024 and quite substantially compared with the previous 3 years. However, despite the lack of actual sales, the slowdown did not halt the rise of Andorra property prices per square meter as one would expect in 2024. If you want to understand the reasons behind this, please see our blog: The Andorran real estate crisis, what happened?
