| Hardly known outside of the skiing and | | | | nightlife during the ski season early |
| financial communities, the small European tax | | | | December to late April tends to steer many |
| haven of Andorra has seen some startling | | | | newcomers to La Massana and Ordino. |
| rises in her property values in the last two | | | | |
| years, with a repeat performance in 2007 | | | | Map of Andorra |
| possible. | | | | |
| | | | In addition to attracting international |
| In 2005 property inflation hit 19 per cent, | | | | buyers in increasing numbers for residency, |
| and in 2006 the official property inflation | | | | the Andorra authorities have invested heavily |
| reached sixteen per cent, and according to | | | | in their ski infrastructure, boosting the |
| Andorra real estate specialists Tribune | | | | country's tourism potential and subsequently |
| Properties 2007 is likely to see a further | | | | Andorra's real estate market. |
| ten per cent rise. | | | | |
| | | | And for this year's ski season Andorra has |
| 'There are three streams of buyers for | | | | opened a new family friendly ski park in |
| Andorra', say Tribune, 'An active local | | | | Arinsal, moving away further still from her |
| market, second home buyers looking for ski | | | | old image of a cheap and cheerful ski holiday |
| apartments, and international buyers who want | | | | for 18-30 year olds to one that caters well |
| to gain residency in a tax haven. The | | | | for all. |
| international buyers add pressure on prices | | | | |
| and often buy three or four bedroom | | | | One of the few drawbacks when taking Andorra |
| apartments and chalets, making sure that the | | | | residency compared to Monaco has been access |
| top end of the market is as active as the low | | | | to a major international airport. While |
| and mid range properties.' | | | | Monaco enjoys close proximity to Nice |
| | | | Airport, with a ten minute helicopter ride |
| With a lack of snow for the first eight weeks | | | | available, Andorra's nearest airports have |
| of the Andorra ski holidays season, the | | | | been Barcelona and Toulouse, three hours |
| second home buyers could be thinner on the | | | | away, with no direct flight to Andorra. |
| ground than usual. The number of tourists is | | | | |
| down by some fifteen per cent, and that could | | | | Recent road improvements between Barcelona |
| impact the property market as some visitors | | | | and Andorra has cut this by thirty minutes, |
| like it so much they buy a property in | | | | and there is a possibility of a scheduled |
| popular resorts such as Arinsal and Soldeu. | | | | helicopter service, Andorra weather |
| So we feel a ten per cent rise in Andorra | | | | permitting, or more likely ten minutes from |
| property values could be realistic for 2007.' | | | | the Spanish Andorra border, allowing quicker |
| | | | access to international flights for business |
| Andorra as a tax haven destination has been | | | | people considering Andorra residency. |
| benefitting recently from the high cost of | | | | |
| real estate in Monaco. Monaco recently became | | | | Other improvements within Andorra include new |
| the most expensive country for property in | | | | tunnels, allowing quicker access to the ski |
| Europe, and while a 32m2 studio in Monaco | | | | fields, and driving around Andorra easier. |
| will cost close to a million Euros including | | | | |
| the closing costs, Andorra offers over 100m2 | | | | With more demand from international buyers |
| three bedroom two bathroom apartments at less | | | | who want to take advantage of Andorra |
| than half the price - with the same tax | | | | residency, the Andorra government announced |
| advantages as better known Monaco, bringing | | | | in February that it was increasing the number |
| out an Andorra map for many investors | | | | of residency applications from the previous |
| recently. | | | | 200 year a year to 500. |
| | | | |
| The different type of buyers tend to head for | | | | 'Andorra is becoming more popular among the |
| different areas of Andorra, with the ski | | | | international buyers', comment local travel |
| apartment buyers tending to purchase in the | | | | guide YourAndorra, 'And with Monaco real |
| key ski resorts of Soldeu and Arinsal. | | | | estate prices sky high it comes as no |
| | | | surprise that the government has moved |
| Those looking for residency go more for the | | | | favourably by allowing more residents. But |
| year round villages and towns which have a | | | | it's not just the tax free living they come |
| resident community. | | | | for - it's the weather in Andorra as well for |
| | | | many who see the ideal opportunity to live in |
| Outside of the capital (la Vella) these tend | | | | a tax free environment and enjoying winter |
| to be La Massana and the upcoming village of | | | | sports too. |
| Anyos, Ordino and Arinsal, although Arinsal's | | | | |