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