Area Guide

Gibraltar

A British microcosm with a Mediterranean climate

In 1704, during the Spanish Succession war, an Anglo-Dutch navy occupied the Rock of Gibraltar, which until then had been part of the Crown of Castile. Despite numerous armed attempts that the Spanish crown has made to reconquer the Rock, the British army has always remained in Gibraltar since then, and, after the Treaty of Utrecht in 1713, Gibraltar has been recognized as an overseas British territory.

Spain region image

At the moment, Gibraltar remains a territory under the control of the United Kingdom, although the Kingdom of Spain maintains a permanent claim on its sovereignty. The result of this is that today in Gibraltar there is an authentic mixture of cultures, where you can see both British police officer "bobbies" speaking Spanish with the strongest Andalusian accent and a group of construction workers eating Fish and Chips in a British pub while discussing the comings and goings of the Spanish league in the “llanito language,” a curious combination of Spanish and English. And it is certainly striking how during a walk along Main Street Gibraltar you might believe that you have been transported to a street in a London neighborhood (telephone booths, brick houses, pubs ...), although a splendid sun and a temperature of 30 degrees seem to have supplanted the London mist. This is why in this small part of the United Kingdom, it is also possible to enjoy a bright sunshine during spring and summer on beaches such as Eastern Bay or Catalan Bay, which are crowded with sunburnt British bodies as it would also be in their sister beaches on the Spanish coast. To this, we only need to add a huge Rock populated with monkeys to make the mix even more exotic. Gibraltar enjoys a very advantageous tax status for local companies, which has led to the growth in the last decade of a blooming financial industry. In addition to this, Gibraltar has had a real estate boom in recent years with the construction of new developments and with the real estate market showing constant annual price increases without even flinching at the serious negative effect of the 2008 financial crisis. The Gibraltar property market can therefore be considered as solid and stable, especially when compared to other international markets. The international visitor looking to buy a home in Gibraltar can find return of investment possibilities on the rental market. This currently maintains a stable demand, given the good economic perspectives of the Gibraltarian economy. The returns on renting a property can be around 6-10%, depending on the type. Something that also has to be taken into consideration is that the land on which new developments are built cannot be bought, but must be leased for periods of 150 years to the local Government. The main question that must be asked if you are considering to buy a property in Gibraltar is: is it worth to buy a home in Gibraltar or is it preferable to buy it in one of the adjacent areas of Spain (such as La Linea, Sotogrande, Manilva or Estepona)?. The answer, of course, depends on the buyer’s circumstances. Those who would buy a home in Gibraltar because they have a job in the Rock could also choose to live in Manilva at a much lower price and commute every day to work, but risking seasons of slow border controls in those times when diplomatic tension increases between Spain and the United Kingdom. On the other hand, anyone who decides to buy a property in Gibraltar as an investment will benefit from a more attractive long-term rental market than in Spain. In any case, Gibraltar offers a wide variety of possibilities for the real estate investor who prefers more solid and stable markets. Come here and get to know them!

Spain region image

Latest properties for sale in Spain and Portugal

Never miss a thing.

Every week our subscribers receive the latest from MiMove.

Yes, I would like to receive offers and newsletters from MiMove.
MiMove minimap region

MiMove.com uses cookies to provide our users with the best experience possible, for marketing purposes, and for user behavior analysis. MiMove complies with the rules and regulations of the EU in regard to how we handle personal data and how we protect your personal integrity. By continuing to use MiMove’s products and services, you accept MiMove’s Integrity policy. For more information please click here.