Confidence is Driving Gibraltar’s Property Market

Since our last update, Gibraltar’s property market has experienced a transition period, and at the heart of it all lies one central force: confidence.

In BMI Group’s latest Property Market Update, Managing Director Louis Montegriffo outlines the various economic and political factors impacting the territory’s property sector. The absence of a post-Brexit agreement since 2016, coupled with global inflation and rising interest rates, has understandably caused a degree of market hesitancy.

“The biggest issue that affects any market, particularly the property market, is confidence,” Montegriffo explains. While Gibraltar’s economy has remained stable, buyer uncertainty has slowed sales. Yet he believes the slowdown may have been a healthy correction after the sharp price increases witnessed between 2020 and 2022.

Interestingly, the rental market has emerged as a bellwether of future sentiment. Demand for larger units has remained solid, with prices holding steady. This suggests ongoing confidence in Gibraltar as a place to live and work.

With signs that we may have reached the bottom of the current curve, all eyes are on the long-awaited agreement, which Montegriffo believes could mark the turning point. “It’s not about a boom,” he says, “but about stabilising the market and building back confidence.”

Watch or listen to our latest Property Market Update for the full picture.

https://www.bmigroup.gi/quarterly-updates