Autumn is not a time of year normally associated with being a busy season for the property market, but the last quarter has re-affirmed that Gibraltar’s property market has now passed through the worst of the effects of the global economic climate.
There continues to be a significant increase in the number of international clients seeking to relocate here and who see Gibraltar as the place to make their property investment for the medium to long term.
Many are naturally attracted to our shores by the potential tax savings, but there is a growing interest in Gibraltar not only as a means of reducing tax exposure, but, more importantly, as a permanent residence. Gibraltar has come on leaps and bounds during the past two decades and there can be no denying that it is a more attractive proposition to international companies and High Net Worth Individuals that ever before, but tax savings are no longer the only reason for this influx.
Gibraltar has undergone a massive facelift during the last twenty years and thanks in large part to that the Rock has evolved in to jurisdiction where one can enjoy not only tax savings, but have the peace of mind in knowing it is one of safest places to live in Europe, with the added bonus of a modern infrastructure and a Mediterranean climate with international air-links on our doorstep.
As with any good recipe, the ingredients are always the secret of success and Gibraltar’s buoyant property market owes it strength to the combination of the matters I have mentioned, although that is not the whole story. The construction boom of the last decade ensured Gibraltar was able to accommodate the many professionals and businesses relocating here, but there is a distinct shortage of new housing projects in the pipeline.
Next month will see the completion of Quay 27, and it may be the last opportunity for investors to purchase before we see local house prices increasing due to the shortage of private residential construction. This imposing 19 storey structure is situated on the waters edge adjacent to Cormorant Wharf and Queensway Quay and features a selection of 1, 2, 3, and 4 bedroom apartments with an emphasis on large open areas.
There are a limited number of superb opportunities to purchase in this development at or below the original prices and now is the time to buy as handover by the Developer is imminent. If you would like any further information please contact our office on +350 200 47777 or by email – email@example.com