Andorra may lack the élan of the top Swiss and French ski resorts, but its recent tax and residency reforms could bring a fresh deluge of overseas homebuyers choosing the tiny principality over its more expensive Alpine rivals.
Flanked by the borders of France and Spain, Andorra claims 300 days of sunshine, is three hours’ drive from Barcelona, and boasts 300km of skiing in the two resorts of Grandvalira and Vallnord.
For ski bunnies, snow cannons keep 60 per cent of the runs open, but it should also appeal all year round to walkers, sporty sorts and nature lovers.
Commercial property investment activity in Europe reached its highest level since 2007, totalling €102.5 billion in the first half of 2015, the latest market analysis report shows.
The investment volume across the 16 participating countries was 25% up on the same period last year, according to the European Investment Briefing report from international real estate advisor Savills.
You may be more familiar with Andorra as a cheap ski destination rather than a tax haven, and it's true that this tiny principality, tucked between France and Spain in the Pyrenees, doesn't quite have the cachet of Monaco. However, it does offer great skiing, stunning mountain scenery and significant financial perks.