How much is the average price per square meter in Andorra?
Right now, home prices are not holding back.
The square meter of apartments located in Andorra was 3,020 euro on average in the second quarter of the year.
This represents an increase of 10% compared to the same period last year.
In absolute terms, the variation compared to the second quarter of 2021 is 274 euros.
What this data means
Because of them, the upward trend observed since 2018 is confirmed.
2022 was the fourth consecutive year that the square price rose between April and June.
The latest minimum was reached in 2018 with 2094 euro.
This means that the square metre has been revalued by 44% (926 euro).
Comparison between Q1 and Q2 2022 prices.
The average price per square meter of the months between January and March was 3,429 euros.
This means that the flats have gained 12% in value.
However, they still remain above the price with which they closed the record of 2021 (2966 euros per square meter).
If the average prices for single-family homes and buildings are taken into account, the variation with respect to the same period of 2021 is 7.3%, going from 2,768 euros to 2,971 euros in this second quarter.
The situation of the real estate market in Andorra
Despite rising prices and economic conditions, the real estate market continued to increase to 578 transactions from April to June of this year.
This resulted in a 20.4 per cent increase in transactions, with 480 transactions recorded in the second quarter of 2021.
Now, let's see what this has meant for the Principality.
Amount of real estate sold
In Andorra, the amount of real estate sold has increased by 27.2% after 1,519 properties were sold in the second quarter.
This implies 325 more than were sold in the same period last year.
Of these, 538 were flats, family homes and buildings.
As for land and parking spaces sold, it was increased by 174.
When the price of transactions has increased
The total amount of this year's operations reached 314 million euros, an increase of 51.5%.
In fact, this increase is also observed in the quarterly variation, with an increase of 38.2% compared to the first quarter of 2022.
As for the dimensions of the real estate sold or bought, it also increases substantially.
Thus, in the second quarter the total area transmitted for flats, single-family homes or buildings stood at 52,581 square meters, 26.3% more than a year ago and 9.4% more than in the first quarter of 2022.
The total area transmitted from all transactions (including land or premises) stood at 220,687 square meters.
Rising inflation also affects the neighboring country
The year-on-year consumer price index stood at 7.6% at the end of June.
This means two tenths above the month of June.
This increase is due to the evolution of the prices of suits and footwear, which despite being on sale have not lowered prices as happened in July 2021.
The rise in food prices should also be taken into account.
But it is important to emphasize that, despite the increase, the acceleration of the indicator is reduced, thanks, in part, to the moderation of the prices of the transport group since the price of fuel has fallen slightly.
Comparison with Spain
If we have as a reference the CPI of the neighboring country in July, it continued to rise to reach 10.8%, which means being six tenths above the previous month.
In France, on the other hand, inflation has been 6.1%, only about three tenths above June.
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