Andorra Foreign Property Investments Drop 20% Amid New Taxes; Caubella Heliport Opens

Andorra la Vella, 22 June 2026 – Foreign property investment applications fell 20% in the first five months of 2026 compared to 2025, Economy Minister Conxita Marsol informed the Consell General last week, attributing the drop to new taxes and purchase restrictions for non-residents.

Marsol responded to Social Democrat councillor Pere Baró, who cited a 55.5% increase in such investments last year to €514.3 million, or 12% of GDP. He pointed out that initial investments tied to property deals jumped 525.9% from 2024, with 65.2% of 2025's foreign investment linked to real estate. Baró described housing as a financial asset rather than a stable resident option.

The minister described 2025 as a transition period under the reforms, with fuller impacts expected by year-end. She noted the government would assess a Social Democrat call to prohibit initial foreign property investments if trends persist. Baró raised concerns over delayed action, as Head of Government Xavier Espot outlined plans to expand rental aid beyond the current 30% income eligibility limit.

Marsol highlighted growing public housing demand, with looser criteria possibly adding 77 people to waiting lists, netting around 50 after withdrawals. Upcoming projects in Borda Nova, Font de Ferro, and Ordino aim to address shortages, alongside efforts to utilise vacant properties.

Caubella Heliport Inaugurated in La Massana with Projected 1,800 Annual Landings

The national heliport at Caubella opened on Monday in a progressive rollout, concentrating most activity outside urban areas. La Massana's Cònsol Major Eva Sansa welcomed the facility as a response to long-standing resident demands, improving service delivery under optimal safety conditions and enhancing neighbourhood relations.

Espot reiterated its role as a public service rather than a profit-driven venture, meeting international standards for mobility and emergencies. He confirmed the government's outlay at roughly €5.5 million so far, with total exposure capped at €8.98 million—including €7.6 million contractual and €1.35 million for approved cost adjustments like inflation and a nearby bike trail. Further liabilities hinge on the concessionaire's performance, with refunds possible for strong results.

The operator forecasts around 1,800 landings in the first year, with 86% for aerial works and 14% non-regular passenger transport such as scenic flights, charters, and heli-skiing. National emergency services will operate tariff-free. Private interest has emerged from firms like Heliand for relocations and storage, though subject to technical, regulatory, and fee requirements.

International flights await border controls and the Entry-Exit System, potentially requiring stopovers outside Schengen—such as at La Seu d'Urgell aerodrome—until solutions like EU agreements take effect. Officials expect on-demand international operations from day one, mobilising police checks as currently practised.

Social Democrat Laia Moliné questioned success metrics, the jump from an initial €10 million budget to €16.55 million total, and international connectivity prospects. Ciutadans Compromesos leader Carles Naudi downplayed environmental effects, noting 24,000 square metres deforested out of 10.9 million—a 0.002% share.

Full operational data will clarify actual demand and viability, with no immediate rebalancing anticipated absent proven shortfalls.