{
  "title": "Principality of Andorra: Selected Issues",
  "publication": "IMF Staff Country Reports, March 6, 2024",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2024/03/06/principality-of-andorra-selected-issues-545484",
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  "summary": "This Selected Issues paper focuses on housing affordability in Andorra. This paper shows a granular analysis of housing affordability, exploiting microdata from the Survey of Living Conditions, to identify the groups that are most affected and better inform and target housing policies.",
  "sections": [
    {
      "heading": "Housing affordability — key findings",
      "content": "- Granular analysis of housing affordability using microdata from the Survey of Living Conditions identifies the groups most affected to better inform and target housing policies.\n- Affordability is lower for renters.\n- Andorra is a renter-dominated real estate market, which combines with lower rental affordability to create a housing affordability issue.\n- Low-income and low-skilled workers are disproportionally affected.\n- Evidence indicates a supply and demand mismatch in the affordable segment of the Andorran housing market.\n- Insufficient market fluidity exacerbates the shortage of short-term rentals and complicates the hiring of foreign workers."
    },
    {
      "heading": "Demand and supply dynamics analysis",
      "content": "- The study analyzes the evolution and characteristics of housing demand and supply dynamics in the country.\n- Findings point to a mismatch between supply and demand specifically in the affordable housing segment.\n- Market fluidity is identified as insufficient, contributing to shortages in short-term rental availability."
    },
    {
      "heading": "Policy implications and recommendations",
      "content": "- A multipronged policy approach is needed to address housing affordability.\n- Policy design should carefully balance minimizing market distortions while increasing the stock of housing in the medium-term.\n- Targeted interventions should prioritize low-income and low-skilled worker households and renters, given their disproportionate burden.\n\n---\n\n Content in this bundle\n\n- Principality of Andorra: Selected Issues; IMF Country Report No. 24/58; February 9, 2024\n  - Principality of Andorra: Selected Issues; IMF Country Report No. 24/58; February 9, 2024 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Principality of Andorra: Selected Issues; IMF Country Report No. 24/58; February 9, 2024 (PDF){rel=\"external\" type=\"application/pdf\"}"
    }
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    "[Markdown version](/en/publications/cr/issues/2024/03/06/principality-of-andorra-selected-issues-545484/index.md)",
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    "Published: March 6, 2024",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400268205.002",
    "Granular analysis of housing affordability using microdata from the Survey of Living Conditions identifies the groups most affected to better inform and target housing policies.",
    "Affordability is lower for renters.",
    "Andorra is a renter-dominated real estate market, which combines with lower rental affordability to create a housing affordability issue.",
    "Low-income and low-skilled workers are disproportionally affected.",
    "Evidence indicates a supply and demand mismatch in the affordable segment of the Andorran housing market.",
    "Insufficient market fluidity exacerbates the shortage of short-term rentals and complicates the hiring of foreign workers.",
    "The study analyzes the evolution and characteristics of housing demand and supply dynamics in the country.",
    "Findings point to a mismatch between supply and demand specifically in the affordable housing segment.",
    "Market fluidity is identified as insufficient, contributing to shortages in short-term rental availability.",
    "A multipronged policy approach is needed to address housing affordability.",
    "Policy design should carefully balance minimizing market distortions while increasing the stock of housing in the medium-term.",
    "Targeted interventions should prioritize low-income and low-skilled worker households and renters, given their disproportionate burden.",
    "**Principality of Andorra: Selected Issues; IMF Country Report No. 24/58; February 9, 2024**"
  ],
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