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