Little known outside of the skiing and financial communities, the small European tax haven of
In 2005 property inflation hit 19 per cent, and in 2006 the official property inflation reached sixteen per cent, and according to
‘There are three streams of buyers for Andorra’, say Tribune, ‘An active local market, second home buyers looking for ski apartments, and international buyers who want to gain residency in a tax haven. The international buyers add pressure on prices and often buy three or four bedroom apartments and chalets, making sure that the top end of the market is as active as the low and mid range properties.’
With a lack of snow for the first eight weeks of the
The different type of buyers tend to head for different areas of
Those looking for residency go more for the year round villages and towns which have a resident community.
Outside of the capital (la Vella) these tend to be La Massana and the upcoming village of Anyos, Ordino and Arinsal, although Arinsal’s nightlife during the ski season early December to late April tends to steer many newcomers to La Massana and Ordino.
Investment in infrastructure
In addition to attracting international buyers in increasing numbers for residency, the
And for this year’s ski season
One of the few drawbacks when taking residency in
Recent road improvements between Barcelona and Andorra has cut this by thirty minutes, and there is a possibility of a scheduled helicopter service, Andorra weather permitting, or more likely ten minutes from the Spanish Andorra border, allowing quicker access to international flights for business people considering Andorra residency.
Other improvements within
Residency applications increased
With more demand from international buyers who want to take advantage of
‘Andorra is becoming more popular among the international buyers’, comment local travel guide YourAndorra, ‘And with Monaco real estate prices sky high it comes as no surprise that the government has moved favourably by allowing more residents.
“But it’s not just the tax free living they come for – it’s the Andorra weather as well for many who see the ideal opportunity to live in a tax free environment and enjoying winter sports too.’