2012 was a very good year on the property front in Gibraltar.
Whereas many other countries saw their property markets continue to slide or at best remain stagnant, we, on the other hand saw a tangible increase in sales and rentals in comparison to the previous two years.
Part of the reason for the strong performance of the property market in 2012 was the continuing lack of affordable new construction which bolstered the resale market, but to attribute it solely to a lack of new builds would make light of all the other positive factors which make Gibraltar an attractive and growing proposition for the international community.
As a finance centre, Gibraltar continues to attract ever increasing interest from multinational companies, who naturally require office premises and accommodation for their staff, but one of the most noticeable changes last year was the surge in enquiries from individuals wishing to relocate here with the intention of making Gibraltar their primary residence.
Gibraltar is not solely recognised as a finance centre nowadays, but also as a wonderful place to live in – offering an enviable standard of life, coupled with low crime and blissful weather. What also came across from many clients was the comfort they gained from our legal and tax systems, and the friendliness of Gibraltarians.
This may also partly explain why Gibraltar is regularly featuring in many international publications – all of which is enhancing our international image and can only lead to further benefits for Gibraltar in 2013 and beyond.
The outlook for 2013 and is very positive indeed!