Andorra is attractive for its scenery, ski slopes and the tax benefits its residents enjoy. That's why, it has become increasingly popular in recent years and many people are considering moving to this small country located between Spain and France.
Furthermore, house prices have experienced significant changes in the Principality: we analyse the evolution from 2019 to 2024 to better understand the trends and the factors that have influenced the Andorran market.
Average house price in Andorra
The Andorran residential market seems to be growing steadily. According to idealista data, in January 2024, the average house price in Andorra stood at €4,582/m2 – 14.4% more expensive than in January 2023 (€4,005), setting all-time highs.
House prices in this country have risen by almost 50% since 2019, with the outbreak of the COVID-19 pandemic. Specifically, in January 2019, the average house price in Andorra was €3,112/m2. That is to say, in January 2024 there had been an increase of 47.2%.
House price evolution in Andorra
This increase in house prices in Andorra is general and affects the whole country, although some areas have experienced more notable rises than others. Les Escaldes tops the list of areas that have risen the most in the last year, going from €4,737/m2 in January 2023 to €5,689 in January 2024, a year-on-year increase of 20.1% and 52.6% since January 2019 (€3,728).
Next comes La Massana, with an average price of €4,221/m2 in January 2024 and a year-on-year increase of 13.7%, as in January 2023 it stood at €3,714/m2.
On the other hand, Encamp is the area where house prices have risen the most since January 2019, with a 53.3% increase since that year, rising from €2,668/m2 to €4,090/m2 in January 2024.
The areas with the lowest year-on-year rises (none of them have seen prices decrease) are Andorra la Vella (5%), where house prices stand at €5,032/m2 and Encamp (9.5%).
The most expensive and cheapest areas to live in Andorra
According to idealista, the area with the most expensive properties in the Pyrenees is Les Escaldes (€5,689/m2). It is followed by Andorra la Vella (€5,032/m2) and, at some distance, La Massana (€4,221/m2).
As for the cheapest areas, Sant Julia de Loria has the lowest-priced homes, with an average price of €3,694/m2 as of January 2024. It is followed by Encamp (€4,090/m2) and Canillo (€4,100/m2).
Living in Andorra, an increasingly popular option
Andorra's supply of homes has grown 6.5% year-on-year but has fallen by 7.1% since January 2019, perhaps due to the pandemic, with many people considering moving to the country.
Furthermore, interest in buying a home in Andorra continues to grow exponentially, with a year-on-year increase of 3.5% and a 159.0% increase since 2019.
How much money do you need to live in Andorra?
The cost of living in Andorra has increased significantly over the last four years. Inflation and rising rent have been the main factors contributing to this increase. As a result, the minimum cost of living can be between €1,400 and €1,500 per month, or around €18,000-€20,000 per year.
Buying or renting in Andorra
On idealista, you can find a variety of properties for sale in Andorra, from chalets to flats at the foot of the ski slopes. There is also a wide range of rental properties available.
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