Page 90 - Economic report 2020

PROPERTY TRANSACTIONS AND AVERAGE PRICE PER M FOR APARTMENTS, BY PARISH
2
PROPERTY TRANSACTIONS M PRICE FOR APARTMENT TRANSACTIONS (EUROS) Table 11.1
2
Absolute Relative Relative
2021 2022 variation variation (%) 2021 2022 variation (%)
Canillo 358 360 2 0.6 2,515.6 2,530.6 0.6
Encamp 404 399 -5 -1.2 2,322.0 2,931.4 26.2
Ordino 153 147 -6 -3.9 2,839.7 2,626.0 -7.5
La Massana 367 373 6 1.6 2,737.6 3,082.4 12.6
Andorra la Vella 275 310 35 12.7 3,367.3 3,641.4 8.1
Sant Julià de Lòria 188 136 -52 -27.7 2,310.1 2,456.9 6.4
Escaldes-Engordany 203 347 144 70.9 3,203.7 4,713.4 47.1
Total 1,948 2,072 124 6.4 2,775.1 3,266.4 17.7

Source: Department of Statistics.

for residential use were granted. The other 51 mortgages were for other uses - such as hotels,
premises, developments and land – and were less than half the number in 2021 (109). The average
value of all the mortgages granted for residential use was €313,395, 30.8% more than in 2021.

The analysis of the property sector is completed by the statistics on housing characteristics referring
to 2021. According to this source, prepared from the data from the household budget survey, the
trend in the total number of homes of resident households in Andorra shows continued growth over
the last five years. Over this period, the total increase in housing was 3,685 units, of which 2,851
88
were owned properties, whereas the other 834 were rental properties. It is important to remember
that, according to Department of Statistics estimates based on electricity consumption, there were at

Andorran economy: developments in the main sectors | XI. Construction and related industries

Box 11.2
THE RENOVA PLAN

The Renova Plan is the main scheme for promoting that benefits annually from the programme is around
energy savings and efficiency and introducing 2.7%. In 2022, 368 applications were presented,
renewable energies into buildings. It was created more with requested amounts of €3,246,975 in grants and
than ten years ago to promote the refurbishment of €389,941 in loans. Some 66.7% of the applications
buildings and has gradually switched its focus towards were for solar panels and windows.
energy aspects.
The new 2023 Renova Plan has €2 M in funds and
Since being in operation (2011-2022), the Renova Plan aims to continue encouraging energy savings in
has received 2,700 applications, €16.5 M for grants housing. To access the grants, it must be a rental or
and €17.0 M for loans, of which €15.7 M and €14.4 M owned primary residence with a surface area of 130
have been granted, respectively. m or less, or buildings with at least 70% primary
2
residence apartments. For air conditioning and hot
The 2022 Renova Plan has €3.5 M in funds, 3.5 times water or solar panel installations, there are no access
as much as in 2015 (€1.0 M) and almost double those requirements. Note that, out of the two million,
of 2021 (€1.8 M). It is estimated that 14% of housing €427,373 are destined for 28 applications made in
in the country have benefitted in one way or another the previous year which could not be paid because the
from the Renova Plan (approximately 6,030 out of budget ran out.
44,534). Currently, the percentage of total housing