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