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Property
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occupiers, seasoned investors and a small measure of speculators is healthy – an overdose of the latter and there runs the risk of exposing the market to an oversupply trend and in turn a property bubble.
Off-plan sales
The first large scale development scheduled for completion before the end of 2018 is Midtown phase 1. Ocean Spa and Quay 29 are both scheduled to be completed by early 2019, and others will follow during 2019/20
.
Off-plan re-sales
There has been a strong indicator that re-sales in certain developments are seeing
significant growth margins and these continue to be a good indicator of the confidence or lack of on assessing
whether the market has over-exposed itself to weak speculators, and which developments may be more adversely affected by this. There is a great deal of importance on the impact of off-plan sales and the quality / profile of buyers, and the
simple logic of this is, “Owner occupiers” will always drive the sector – “let the market drive the market”!
Commercial
The World Trade Centre (WTC) was completed on schedule last year and has been a huge success. The fully occupied building has added a new dimension to Grade A office space in Gibraltar, and there are talks of a possible WTC 2.
Midtown Commercial is already fully subscribed and provides a Grade A office environment in the heart of Gibraltar, with immediate access to Midtown Residential, a high end residential scheme (fully sold out) and Midtown Retail which completes this mixed use development.
The Sails
‘High end clients are no doubt keeping a cautious eye on the upper end before committing to the £2 million + market
The World Trade Centre
www.bmigroup.gi
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Gibraltar International
www.gibraltarinternational.com
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