Spotlight: 

Gibraltar Residential Market

Gibraltar Residential Market
Gibraltar Residential Market

25 February 2016, by Paul Tostevin

After several years of strong growth, Gibraltar still offers value on a global stage

Gibraltar is among an elite and small club of territories within Europe with special and unique governance, independence and tax status. A self-governing territory with a population of 32,000, bordering a much larger neighbour, it draws parallels with Monaco.

Hybrid centres of business and leisure and located in the Mediterranean, both have the characteristics of ‘city’ and ‘resort’. Each has developed an international professional services sector and are centres of commerce in their own right.

 

Offering favourable tax regimes, they are attractive to business and high-net-worth individuals (HNWIs). Prices in these territories appreciated at a time when other national markets in neighbouring countries have been languishing.

Comparisons with Monaco only go so far. Gibraltar has its own unique characteristics, history, culture, and has developed on its own path. A modern, compliant, British jurisdiction, Gibraltar offers community and safety that makes it an appealing place in which to live. Emerging later on the global stage, Gibraltar’s prime property market still offers value when compared to rival jurisdictions. This is illustrated in our ‘Sunshine/Spend’ index. Diversification in Gibraltar’s economy has supported economic growth, generating wealth in the local economy and spurred a wave of new development. Entirely new market tiers have opened up to attract the global wealthy.

The hybrid nature of Gibraltar as a conurbation, destination and recreation location diversifies risk while maximising the market for property. This comes at a time when the prime markets of many world cities are at a high plateau. As Monaco pricing rivals Hong Kong, becoming the preserve of only the super-rich, Gibraltar has the potential to fill a gap in the Mediterranean for HNWIs, at various levels. While it may not yet have the cachet of Monaco, proposed new developments, the right investment and infrastructure could propel Gibraltar onto the circuit of the global wealthy.

 

 

▲ A British Overseas Territory in the Mediterranean, Gibraltar is home to a mixture of cultural influences

Articles from Spotlight: Gibraltar Residential Market 2016

Gibraltar At A Glance

25 February 2016

Gibraltar At A Glance

Gibraltar has transformed itself in the last four decades into a diversified, international service based economy

Gibraltar As A Destination For HNWI

Gibraltar’s prime property offers value compared to rival jurisdictions. The territory tops our Sunshine/Spend Index

Gibraltar's Property Markets

25 February 2016

Gibraltar

Prime prices appreciated 15% from 2013 to 2015, while new, off-plan developments sold strongly in 2014 and 2015

Outlook

25 February 2016

Outlook

External risks persist around the outcome of the UK EU referendum and wider changes to global tax regimes

 
 

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Key contacts

Yolande Barnes

Yolande Barnes

Director
World Research

Savills Margaret Street

+44 (0) 20 7409 8899

 

Paul Tostevin

Paul Tostevin

Associate Director
World Research

Savills Margaret Street

+44 (0) 20 7016 3883

 

Vlad Tikhnenko

Vlad Tikhnenko

Research Analyst
World Research

Savills Margaret Street

0207 299 3043