Andorra Real Estate Portals See Listings Plunge from 5,000 to 1,800 Amid Housing Shortage

The number of properties listed on Andorra's real estate portals has dropped sharply in recent years due to a severe shortage of available homes.

Toni Capella, CEO of pisos.ad, described the decline as significant, noting that the platform had nearly 5,000 listings about five years ago but now holds around 1,800. The trend appears across the sector, with Buscocasa reporting 834 properties available this week. Diego de Prado, a partner at Buscocasa, said the issue has affected the entire market, becoming particularly noticeable over the past year. He added that it is frustrating to receive inquiries from prospective buyers or renters but have nothing to offer, as properties cannot be created out of thin air.

Capella attributed the reduction primarily to a strong imbalance between high demand and low supply. Properties often sell quickly without ever appearing online, leaving little for portals to display. Listings that do emerge tend to carry elevated prices and fail to attract buyers or tenants through faster channels.

Rental options are especially scarce, with both Capella and de Prado calling them practically nonexistent on these platforms.

Several factors contribute to the situation. New construction projects frequently sell off-plan, with half or more units reserved before building begins, bypassing portals entirely. Second-hand homes, traditionally the mainstay of listings, have dwindled as available stock sells rapidly. Capella noted that properties now stay posted for only a short time before leaving the market.

He placed the shift in longer-term context, recalling that around 2012, numerous pre-crisis homes from owners facing mortgage difficulties flooded the market. That excess inventory has since been absorbed.

Other structural elements include the rise of tourist rentals, amplified by platforms like Airbnb, which has shrunk the residential pool. Andorra's economic growth and openness have also increased pressure on housing availability.

Despite fewer listings, portal activity remains steady. Capella pointed out that the number of advertisers, including agencies and some individuals, has held firm or even grown. Each agency simply has less to list. Professionals such as surveyors and architects continue using the sites for price references and valuations.