29 May 25
What’s Next for Property Development?
David Revagliatte talks to Louis Montegriffo about Gibraltar's Real Estate Market
The development landscape in Gibraltar is evolving, with only a select few projects moving forward while others wait for more favourable conditions.
In BMI Group’s latest Property Market Update, Managing Director Louis Montegriffo highlights which off-plan developments are gaining momentum and why. Amid a broader market recalibration, just two major projects have progressed from proposal to construction: the final phase of Midtown and One Bayside.
“One Bayside, which we're involved with heavily, actually went in and undercut the market,” Montegriffo explains. Focused on owner occupiers and larger units, the development launched with a strategy to appeal to today’s more cautious buyers—and it worked.
By contrast, Europa Walks reflects a different approach. This low-density, self-financed scheme of villas and townhouses does not depend on off-plan sales to progress. It offers an alternative model to high-density builds, reinforcing the importance of matching product to demand.
Montegriffo also voices concern over the volume of studio-heavy proposals in Gibraltar. “That’s been something that we've been concerned about for a long time,” he says, questioning both demand and the long- term sustainability of such schemes.
Despite current caution, the outlook remains positive. Gibraltar’s resilience, its avoidance of widespread repossessions, and continued interest from high-value buyers are signs that the fundamentals remain strong. As confidence returns, stalled developments may well regain traction.
Watch or listen to our latest Property Market Update for the full picture.
