Through the mid-2000’s Andorra’s property market was booming, with a claimed 50% price jump over 5 years.
Then the GFC hit, with average prices dropping 25%.
Then can Covid and a huge swell at immigration level, causing another near 100% increase up to 2026.
In this article we’ll run you through some key considerations before renting or buying in Andorra’s property market and where the market sits in 2026, including prices per square metre.
Consider Liquidity
If you’ve wanted to sell property in a major, developed English speaking country over the last few years, it wasn’t uncommon to list it on Friday and sell it by Monday.
Real estate in Andorra is a little different. Unless you own a prime property, think towers of Escaldes, luxury apartments in Andorra la Vella, beautifully refurbished apartments in La Massana, Ordino or Canillo with outdoor space, property can sometimes take a long time to sell. This is not to say property does not hop off the shelves if it is suitably priced with a prime ingredient but the speculative advertised prices (and hidden actual sale prices) will often trick sellers into overvaluing their own properties.
Sellers often have too much expectation on the market given the very healthy price increases over the last 5 years. They will present a large but old property and expect it to be snatched up without any thought behind how the property presents itself not having been touched since the early 90s.
Keep in mind however, due to historically low interest rates in Europe and Andorra, these sellers may not even care if the house hasn’t sold after months or years on the market. They often have a figure in their head and will simply wait until the market aligns with their desired price line.
There are a lot of other factors that can affect the liquidity of a property in Andorra, as covered in this real estate guide. A good example of one however, is sunlight – you may not value sunlight, which is a great opportunity to grab a cheap place, but when it comes time to sell don’t expect it to be quick unless you are reasonable in your selling-price expectations!
Repositioning the Country
Andorra has changed a lot over the past few years. Professional athletes, entrepreneurs and retirees from all over the world are taking advantage of Andorra’s tax system, affordable cost of living, safety, and great quality of life.
Some Andorrans think the country is reluctant to this change and recent political trends would tend to agree, but simultaneously most people in private would agree that it needed to happen.
Getting residency in Andorra isn’t necessarily easy, but it’s not particularly hard either. There are 3 main options;
- you need to be a professional athlete or a public figure of some sort,
- be willing to invest €1,000,000 in the country (most commonly invested in property), or
- form a company in Andorra, and operate it day-to-day which requires you to pay into the social security and healthcare system, and so on.
Each one of these options will cost you a non-refundable tax of €50,000 to obtain residency.
The take away from this is people relocating to Andorra have either a healthy income or asset base. This means they come to the country and spend money, support the economy, and yep, drive up the property prices.
Property Is in Demand
In 2026 there is not anywhere near the quantity of rental options on the Andorran property market compared with some years back (approximately 400 vs. 1000 adverts from 6 years ago). Residential rental prices have increased around 100% from 2020 to 2026.
Mid-way until 2021 there was plenty of “old stock” on the market. Since then, all of these bargains have sold off. Inevitably, this is due to the increased demand both from buyers and renters.
Throughout Covid, demand for the country skyrocketed. Residency applications since then are at all time highs, and demand for property went with that. While many residents are protected under forced government extensions until 2027, the open market rents advertised in 2026 have generally doubled or even tripled from previous times.
This has encouraged many new constructions. Vacant apartment blocks which were seemingly abandoned around 2010 have finally seen completion in the 2020s, while a huge amount of new constructions from base have begun and are set to finish between 2026-2029.
Andorra’s Property Prices
Below are the real government declared average sold property prices (per square meter) at time of writing in 2026 (prices shown are from year 2025):
- Chalets: €3,664.60 m²
- Apartments: €4,368.12 m²
- Land: €1287.90 m²
It can appear that chalets are the best value deals, but keep in mind garages and basement rooms are often included in the total square meterage of detached houses. With the size of some garages in Andorra (occasionally the same m2 as the liveable house) the justification of very high prices seems less obvious. Expect to pay €1.5 million or more for an average house in our little country.
What you don’t see here are the wide ranges. There are some stunning properties available at €10,000/m² or more, while you can be sure if you’re buying somewhere for €3,000/m² or less it will need a lot of work and/or be in a non prime location.
Opportunity Pricing
Advertised prices of property in Andorra do not match actual sales prices as seen above. For example, the average advertised prices in 2025 were as follows (speculation leads the way in Andorra):
- Chalets: €5,393.45 m²
- Apartments: €7,444.44 m²
As a general rule, we consider the following Andorran property prices to be worthy of researching as a potential opportunity:
- Chalets: €4,000/ m² or less
- Apartments: €5,000/ m² or less
- Land: €1,200/ m² or less
This doesn’t mean a property that falls under these prices is a good deal, there’s still a lot to consider on a case-by-case basis. Feel free to contact us for a more in depth analysis on property valuation in Andorra.
Private and Public Markets
Newcomers may not be aware that Andorra has a public and a private property market.
Some sellers choose not to advertise their property publicly, and in some cases the properties are so highly sought after there is no need.
For the longest time, there’s been a lot of “quiet money” in Andorra, undisclosed (historically) to Spanish and French governments. As Andorra becomes more open to the world, these property owners have been quietly selling their property and getting assets out of their name.
A Summary of Andorra’s Property Market
Increased immigration and a healthy European economy bring increased demand both for rental properties and by buyers looking to live in Andorra. Combined with a current lack of supply, Andorra’s property market seems to continue on its upward trend into 2027.
Have questions? We’d love to hear your thoughts, or welcome you to visit our sister company website that has many more blog posts on the property market in Andorra.