Take a snapshot of Gibraltar today and fast-forward another 10 years – the urban landscape will have changed so much that many areas of Gibraltar and its skyline will be unrecognisable.

The last twelve months have truly heralded the return of property developers in to the marketplace, and just last month, Ocean Spa Plaza was released, with all 125 apartments reserved only 36 hours after general release, and that, followed a similar pattern to the launch of Imperial Ocean Plaza in 2014, where 116 apartments were reserved within just 5 days!

2015 has also seen the launch of the much awaited MidTown development –a contemporary, sustainable hub of residential, corporate, commercial buildings and amenities across 4.3 acres in the very heart of Gibraltar. With phase 1 already sold out, and phase 2 just having been released to much anticipation, the demand for property in Gibraltar shows no sign of abating.

October also sees the launch of Quay29, the latest offering from the developers of Kings Wharf, comprising a selection of studios, 1,2, 3 & 4 bedroom apartments, penthouses and townhouses, with prices starting from £180,000 and is guaranteed to sell-out very quickly.

The fact that developers and prospective purchasers have so much confidence in Gibraltar can only be of reassurance, but with such a finite amount of land available for construction, the real dilemma we currently face is where to develop more housing!

The urge will be to build higher and higher, and with that comes the potential risk of losing the charm and character of Gibraltar. So, where does the future lay?

It is important for there to be a continuance of new developments which are in keeping or add to their surroundings, and the success of the recently launched developments is testament to their popularity.

There does however need to be greater emphasis on urban regeneration, especially in the town and upper town areas, which have for the large part been semi-neglected residential areas of Gibraltar.

In the upper town, Gibraltar has some truly interesting and unique real estate, and we have already seen that ad-hoc regeneration schemes have the ability to breathe new life into “forgotten” areas and vastly improve their desirability and value.

Talking about fast-forwarding 10 years ahead - It wouldn’t surprise me if the upper town area by then is one of the most desirable areas in Gibraltar. If it is, remember you read it here first!

Kind regards
Justin Bray