Continued from page 1
Property Price Uncertainty
Both Monaco and Andorra’s property prices have seen a levelling off this year, according to Tribune Properties, but say this can be explained by factors other than new EU directive. Tribune say that in Monaco passing of Prince Rainier earlier this year cast a shadow over Principality, while in Andorra local market has slowed as Andorrans struggle to keep up with price of property, fuelled by buyers from around world seeking residency.
Two other factors have contributed to slow down in first half of year which could be reversed in second half – absence of UK buyers awaiting outcome of their election in May which saw Labour Government returned for a historic third term with Tony Blair as Prime Minister and possible tax rises in pipeline, and buyers holding US dollars who were hit by rise in value of Euro – which has now peaked following EU Constitution ‘No’ votes in France and The Netherlands in June.
Both Andorra and Monaco require new residents to live there for six months a year to maintain their residency (but Andorra doesn’t police this once residency is granted). Andorra property prices start from just over 200,000 Euros for a one bedroom apartment, while Monaco is more expensive with one bedroom apartments from around 600,000 Euros.
Tribune Properties offer details of properties for sale in both Andorra and Monaco. For Andorra property visit http://www.propertyandorra.com , for property and real estate in Monaco and Monte Carlo visit http://www.monacoproperty.net Property in Malta is also available at http://www.maltaproperty.info