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Property
Gibraltar, “on a roll”
5 year property bubble isn’t looking like it’s about to get pricked anytime soon.
April this year saw some rates per sqm reach close to a peak of £7,000; this unless otherwise informed is the highest rate achieved to date in Gibraltar and once again continues to support the view that the high value market which we have spoken about on various occasions, is very much here to stay. This is further supported by recent High Value clients relocating to the Rock and the fact that some are not just using Gibraltar as their residency, but rather looking at the possibilities of investing sizeable funds into a jurisdiction they believe has a great deal of mileage.
These clients have confidence and an interest in Gibraltar that really does underpin our thoughts, on the fact that the market drives the market. In particular the substantial external influence from high value international buyers relocating to what is in fact, a relatively small market. The effects therefore can sometimes be difficult to accept from a local perspective. I believe the term I’m alluding to is “thinking from outside of the box”. If one was going to
By Louis C. Montegriffo, Managing Director, BMI Group
Over 200 off-plan units sold, near 26,000sqm of offices launched, a new bank, a new university and
from the sounds of it, a great deal more to come.
It’s only when talking to newcomers to the Rock that you realise the extent to which Gibraltar is viewed as, “on a roll”. Believe
know all there is to know about property, and Estate Agents have a habit of this. The fact is that it’s the market, buyers and vendors that dictate where we head to next. Yes, agents will influence and will steer, but it will be the confidence in the market, that drives the property agenda.
Gibraltar is incredibly fortunate to have had a period of economic growth that has lasted for nearly 20 years! This is almost unprecedented and clearly not the norm,
‘Prices aren’t being made up; they are a reflection of a demand that is fuelled by new sources and an economy in continued growth
me I’m getting seriously bored with having we’ve all heard of economic cycles; to write up news of growth, building, rising economists try to predict them and
prices and a general feel good factor, where’s the downturn I’m hearing you all shout.
As much as one likes to pretend to
invariably get it horribly wrong; so I’m not about to start making any predictions, I’m no economist, but it’s fair to say that our recent
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26 Gibraltar International
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