Andorra Property Benefitting From Monaco Overspill

With uncertain financial markets and high oil prices knocking the property markets, real estate owners watch on helpless as their home's value drops, but for Andorra there's not much to worry about for those who own an apartment or house.

Andorra's real estate goes against economic reasoning and could see a rise in value this year - over the inflation rate - just as it has done over the last five years.

There are good reasons why demand for Andorra property - and a further rise in value - is likely to happen.

The top reason is that Andorra is a tax haven, and the wealthy buy property to gain Andorra residency for her tax haven status.

Even in times of recession Andorra is popular as the wealthy want to preserve their wealth, and having Andorra residency means their capital is free of many of the taxes they would have to pay in their homeland.

Andorra is also known for her ski holidays, competing directly with ski holidays in France, and Andorra apartments are often bought by skiers for a holiday home, and rented out for income while not skiing themselves.

A third stream of buyers come from the local market, Andorra has some 80,000 people living in the country full time, with many people upgrading or downsizing, meaning Andorra has three streams of property buyers - the local market, those buying for her tax haven status, and holiday home buyers for the skiing.

Last year saw a slowing down of the world's economy, and real estate shortly after the economic downturn news slowed down too.

Andorra achieved a near five per cent increase in her property values in 2007, and some potential buyers considering residency are assuming that Andorra real estate could see a fall in value in the year ahead, as other markets start to fall.

But according to Tribune Properties, who specialise in Andorra real estate, they could well be wrong in their assumptions.

They report that based on the first half of 2008, the full year will be similar to 2007, with a near 5 per cent rise in property values. But they have noticed some difference in the last twelve months in what buyers expect, and the amount of money people are spending.

'Over the last twelve months the average purchase price of an Andorra property has risen surprisingly,' they say, adding 'Two years ago the majority of our sales were for apartments around the 300,000 Euro level. Now we're selling as many properties in the half a million to million Euro bracket as we are at the 300,000 Euro level.'

Part of the increase in value of the typical Andorra property now being sold is due to the better known European tax haven of Monaco, where there is a shortage of property, and real estate ranks among the highest in the world. It's now rare to find even a studio apartment in Monaco under a million Euros - and for the same money and tax benefits that would buy a good house in Andorra.

'It used to be said that you could see property buyers filling the lounges of Monaco's hotels - it's now the Andorra hotels where the buyers are', claim the property company.

Also opening in two years is a new airport close to the border - further adding to Andorra's allure.

By: Andorra

Article Source: http://www.directorys.uniquearticles.info

For Andorra hotels and a gallery of Andorra photographs visit yourandorra.com For inmobiliarias Andorra visit propertyandorra.com

Please Rate this Article  Not yet Rated

More Unique Articles From - Home | Finance | Real Estate
Sign Up for a free account or learn more.
Submit Articles
Member Login
Top Authors
Submission Guidelines
Ezine Notifications
Articles RSS
About Us
Link to Us
Contact Us
Privacy Policy
Terms of Service
Popular Articles
Unique Videos
Unique Search
Unique Articles
   

Copyright © 2007-2008 Unique Article Directories -- All Rights Reserved Worldwide
Sitemap

Accounting | Acne | Adsense | Advertising | Aerobics | Affiliate | Aging | Alternative | Articles | Attraction | Automotive | Beauty | Break-up | Business | Business-Management | Cancer-Survival | Career | Cars-and-Trucks | Cheating | Computers | Computers-and-Technology | Cooking | Culture-and-Society | Ebay | Environment | Etiquette | Family | Family-Concerns | Finance | Finances | Fitness | Food-and-Drink | Free-Tools-and-Resources | Health | Hobbies | Home | Home-Management | Humor | Inspirational/Motivational | Internet | Internet-Marketing | Jobs | Legal | Marketing | Medical-Business | Medicines-and-Remedies | Music | Opinions | Personal-Development | Pets-and-Animals | Politics | Psychology | Publishing | Recreation-and-Leisure | Relationships | Religion | Religion-and-Spirituality | Science | Self-Help | Short-Stories | Speaking | Technology | Wellness-Fitness-and-Diet | Womens-Interest | Writing |

 

Top Directorys Articles Galore Topsites List Free Web Directory List Affiliate Marketing and Article Directories Topsites Bylamo Topsites List Top Article Directory Sites Top 100 Internet Marketing Sites Article Earth | Top 100 Websites - Blogs And Marketing Sites Article Directory Toplist The Article Directory Elite presented by ReadEZArchive.com Entertainment blogs

Powered by Article Dashboard