Andorra Property Prices 2026: €4,547/m², Taxes & Foreign Buyer Rules

Spain shut down its Golden Visa on 3 April 2025. Portugal had already stripped real estate out of its program. Andorra went the other way: it kept the door open for foreign property buyers — and doubled the price of walking through it.

If you’re considering buying property in Andorra in 2026, three numbers define the landscape: €4,547 per square metre (the national average for flats at the end of 2025), 4% (the transfer tax everyone pays), and 6–10% (the foreign investment tax that non-residents pay on top). This guide covers all three, parish by parish, with the official figures.

What property costs in Andorra in 2026

According to transaction data published by Andorra’s Department of Statistics, the average price per square metre for flats reached €4,547.3 at the end of 2025, up 8.2% from €4,201.3 a year earlier — and nearly double the €2,369.2 recorded at the end of 2020. The most recent quarterly reading (Q1 2026) puts flats at €4,415.9/m², a 3% year-on-year increase with slightly fewer transactions.

Averages hide enormous variation between parishes. Here is the official picture at the end of 2025:

Parish	Price €/m² (flats, end 2025)	Change vs 2024
Escaldes-Engordany	€6,117	+15.8%
Andorra la Vella	€4,886	−3.5%
Ordino	€4,135	+12.0%
Canillo	€3,752	+5.2%
La Massana	€3,692	+11.1%
Sant Julià de Lòria	€3,335	+32.1%
Encamp	€3,242	+3.8%

Escaldes-Engordany is now firmly the most expensive parish and also led activity, with transactions almost doubling in 2025. Andorra la Vella was the only parish where prices fell. Sant Julià de Lòria — traditionally the cheapest gateway parish next to the Spanish border — posted the steepest rise at +32.1%, a sign that demand is spilling outward from the centre.

The market as a whole ran hot: 2,175 transactions in 2025, up 35.3%, moving €1.4 billion in property value (+33.9%). Purchases by non-resident foreigners doubled (+100.3%), although the Government attributes much of that jump to a statistical rebound after the 2023–24 moratorium on foreign property investment artificially suppressed the prior year’s figures.

The taxes: what a buyer actually pays

Transfer tax (ITP): 4% for everyone

Every property purchase in Andorra carries the Impost sobre Transmissions Patrimonials at 4% of the purchase value, settled before the notary at signing. For comparison: the equivalent transfer tax in neighbouring Catalonia is 10%.

Foreign investment tax (IEI): 6% or 10%

This is where 2026 changed the game. Under the Omnibus 2 framework (in force since 13 February 2026, with the implementing regulation effective 26 February), the tax on foreign real estate investment doubled: from 3% to 6% on a first property, and from 5% to 10% from the second dwelling onward.

Two details matter more than the headline rates:

Who counts as a “foreign investor”? Not just non-residents. The law also treats as foreign investors those Andorran residents who have been effectively resident for fewer than 3 of the previous 10 years. Moving to Andorra does not immediately exempt you from this tax.

There is a 90% rebate if the investment is destined to long-term rental housing for primary residence, committed for at least 10 years — a deliberate incentive to channel foreign capital into the rental market rather than second homes.

On a numbers level: a non-resident buying an €800,000 flat as a first Andorran property pays €32,000 in ITP plus €48,000 in IEI — €80,000 in tax, roughly 10% of the price, before notary fees.

Notary — and why there is no land registry

A peculiarity that surprises almost every foreign buyer: Andorra has no national land registry. Ownership is transferred and evidenced by the notarial public deed itself; the comuns (parish administrations) maintain a cadastre with the physical and economic characteristics of each property. This makes the notary’s role — and your own due diligence on charges and encumbrances — more important than in Spain or France. Notary fees follow a regulated scale and are modest relative to the taxes (as a published reference, around €600 plus 0.1% of the price for mid-range properties; confirm the exact scale for higher values with your notary).

The €800,000 residency threshold

Buying property and gaining residency are connected but separate tracks. Under Omnibus 2, passive residency (residència sense activitat lucrativa) requires a total investment of €1,000,000 in Andorran assets — and if you route that investment through real estate, each property must exceed €800,000 (per the law as published in the BOPA on 12 February 2026). Add the non-refundable €50,000 AFA payment for the main applicant and €12,000 per dependent.

In other words: the cheapest qualifying property for residency purposes costs more than €800,000, carries roughly €80,000 in purchase taxes for a foreign buyer, and sits in a market where the average flat already trades at €4,547/m². For the full relocation budget — including rent, advisory fees and the active-residency alternative — see our complete cost of moving guide.

Why Andorra kept the door open while neighbours closed theirs

Spain abolished its Golden Visa entirely on 3 April 2025 (Organic Law 1/2025), explicitly to protect housing affordability. Portugal removed real estate from its program earlier. Andorra chose a third way: no prohibition, but a price. Foreign capital is still welcome — it simply pays 6–10% at the door, and the proceeds fund public housing policy.

For buyers, the calculation changed but the fundamentals did not: a stable market that nearly doubled in five years, no wealth tax, no inheritance tax, rental income and capital gains inside one of Europe’s lightest tax systems, and a 10% cap on personal income tax. Whether that trade-off works for your situation depends on your numbers — our tax calculator lets you compare your current burden against Andorra’s, and if you’re ready to model a purchase seriously, our Advisor Match service connects you with a vetted Andorran advisor at no cost.

Figures from the Department of Statistics of Andorra (transaction statistics, published February and May 2026), the BOPA of 12 February 2026, and Govern d’Andorra communications. This article is informational and does not constitute legal or tax advice.