Gibraltar Property Prices and Statistics

High value clients (Cat 2 / Hepps) and other applicants relocating to the Rock continue to represent a significant part of our business and growth in the property sector. We are seeing new startups in the gaming industry, with substantial investments which suggest a long-term presence in Gibraltar; the DLT sector and the Finance Centres’ foresight in regulating the industry at technology level is already proving to be hugely successful and has the makings of developing similarly to the online gaming sector, which has, over two decades been responsible for substantial growth.

We believe that there are numerous fundamentals surrounding our economy which will underpin further consistent growth. We are therefore optimistic and side on a real prospect that prices will hold at current levels and may see further growth particularly within the upper tiers and owner occupier driven sectors.

Market Update
Market Update

Off-plan re-sales and re-sales in recently completed developments such as Quay 31 and Midtown continue to be a good indicator of confidence. We have seen a strong indicator that re-sales in certain developments are seeing significant growth margins of up to 25% in the past 12 months. As has been the case in so many of our previous updates, we place a great deal of importance on the impact of off-plan sales and the quality / profile of buyers; we do not tire in repeating simple logic,“owner occupiers” will always drive the sector - “let the market drive the market”.

A sensible 4 tier market

Our thoughts on a developing 4 tier market (low, mid, high, ultra-high) as described over the past 6years are now firmly accepted. We believe that this more than serves as a positive indicator of the potential that the market continues to enjoy. The very fact that we are attracting a new ultrahigh segment is the clearest sign of confidence from a new emerging market.

It is our firm view that we have a healthy property sector, split sensibly amongst four tiers. Few Finance Centres / Financial Services jurisdictions can boast such a cross section of the market, catering an array of demands from various profiles, this in our view, once again shows the maturity of the market.


Lower end market£3,200/sqm - £4,300/sqm£347,000
Middle end market£4,100/sqm - £5,400/sqm£552,000
High end market£5,300/sqm - £7,200/sqm£706,000
Upper High end market£7,100/sqm - £9,000/sqm£994,000

N.B Rates of up to £10.000/sqm have been achieved in 2021/22, and we expect this milestone to continue to be surpassed

Commercial Property in Gibraltar

With respect to current availability / stock, it is safe to say that there are options in various locations, but particularly so in older commercial developments. The offering is generally lower quality and in certain areas, compromised in terms of layout flexibility and sizes.

There is no question that an element of decanting from the older commercial properties into the newer and better designed office schemes has been the order of the day over the past 48 months.. Worthy of note is the fact that letting rates/sqm have not been compromised at the higher end due to the decanting, in fact quite the opposite; applicants are prepared to pay high end prices for high end specs. In our view this creates an opportunity for landlords with older (decanted) buildings, to upgrade and provide the market with improved offerings to market.

We take the view that new modern office options will only serve to improve the commercial offerings in the market and will generate new business steered by new expectation which once again serve to underpin the positive future for Gib Inc.

In light of the Covid pandemic and the advent of a greater volume of employees working from home, there is a case to be made in so far as less demand or a request for reduction in office space, particularly for the larger office users. We believe that this has not directly affected the high rates for Grade A offices being achieved, but there may be some circumstances where negotiations on rent reviews may now favour the tenant. 

Having said all the above, we take a great deal of confidence from the fact that the economy continues to grow, and with it, so to will the demand for commercial space.

Market Update


EuroportEuroportHigh value - Comm£355 - £390/sqm pa
Leisure IslandOcean VillageComplex£360 - £440/sqm pa
Regal HouseQueenswayMid to high end£250 - £300/sqm pa
EurotowersEuroportGood Amenities£240 - £275/sqm pa
Leanse PlaceTown (South)Mid end£240 - £275/sqm pa
Hadfield HouseTown (Centre)Mid end£230 - £250/sqm pa
World Trade CentreMarina BayHigh value - Comm£430 - £480/sqm pa

N.B These rates are indicative only and are to be taken as average price ranges in the respective properties. Please note that the above prices may be subject to condition of units let and whether or not they are internally finished (to high standard & spec) and kitted out for immediate use.

New Off-plan Developments and their impact

Currently there a number of off-plan developments ongoing, such as Eurocity, E1, Forbes, etc. It would be fair to say that there isn’t enough to go around when one considers the demand and the impact this has had on pricing levels over the past 18 months.

Thanks to a thriving economy with new entrants across the board (commercial / retail / financial service / gaming / DLT / private clients) we find ourselves in a not uncommon situation of serious lack of supply and over-demand for properties, leading to a hike in prices that had not been seen since 2007 and then again in 2013. See Property Price Graph above.

There is clearly a need and demand for new off-plan projects and of course this will be met with the Victoria Keys reclamation and of course the Eastside project, but these are still a while away. This will in itself continue to harden the market at the levels and potentially at the pace we have experienced over the past 18 months or so.

We are working on some new off-plan projects that will be ready to launch as early as this year and we hope to announce exciting plans soon.

Fundamentally however, when it comes to sensible planning and knowing your market and your profile buyers, we have always maintained that a mix of owner occupiers, seasoned investors and a small measure of speculators is healthy, any overdose of the latter and you run the risk of exposing the market to an oversupply trend and in turn a property bubble. We saw this very situation in 2008 and in not such a large degree in 2014 and again 2017. See Property Price Graph above.

Thankfully, because of our well protected economy, Gibraltar has (in the past 25 years) weathered over supply storms and downturns better than most.

Market Update

Gibraltar Economy

Property values as indicated have grown enormously in most sectors, although these increases have not consistently mirrored GDP growth as in the past; it would be unrealistic to expect as much. Our take for the future very much depends on new business for Gibraltar, but more importantly the ability for our economy and financial services sector to continue to strive, compete and attract new entrants from other jurisdictions. The DLT Crypto sector is clearly a new area where Gibraltar (as was the case with Gaming) is leading the way in Technology Regulation; in doing so will place itself at the forefront of what is a global game changer. We also believe that the private client space will feature highly over the next few years as we see high value clients looking for jurisdictions that can afford them a safe, proactive, low tax and regulated environment.

Buena Vista Park Villas
Ocean Village


  • Our lettings portfolio today stands at an average of 12 units, a marginal increase from last year and very low comparably from an all-time high of 40 units 8 years ago. Demand is high – supply is low! We believe this will improve with “New Developments” coming on stream.
  • Our sales portfolio is at an average of 90 units for sale from an all-time high of 240 units 10 years ago. This relates only to real properties ready to move into and some re-sale off-plan” units close to completion. Once again we expect this to remain and we see prices hikes achieved to date to remain and possibly increase further.
  • High Value market sales have increased significantly and as expressed in previous updates, are very much here to stay, thereby underpinning the top end of the market and the confidence from applicants in this sector. Our sales at Buena Vista Park (phase 3) and The Sanctuary are evidence of this.
Ocean Village


  • There continue to be NO bank repossessions.
  • Unemployment remains below 1.5%.
  • Finance Centre industry is growing from within with new sectors arriving on shore.
  • Gibraltar remains the only highly regulated, low tax, English speaking centre in Europe.

Selling or letting with BMI Group

If you are considering selling or leasing your property, here are just a few reasons why you should think no further about using BMI.

Established as leading agents since 1998, we are Gibraltar’s leading estate agents and development consultants.

Over the past two decades we have been involved the sale of over 4,000 properties and have advised, consulted, and acted as lead agents for a substantial part of the off-plan development segment, including developments such as:

Sunset Close, Genista House, Europlaza, Buena Vista Mews, Atlantic Suites, Kings Wharf, Midtown, The Anchorage, Buena Vista Park, The Sanctuary and others.

Our team of 10 strong, include two dedicated property managers responsible for over 200 properties under management, a full-time account manager, two sales directors and other back office and administrative staff. 

Our commercial department has recently been involved in two large transactions of mixed use and office development’s amounting to approx. 4,000sqm of areas with a value of approx. £20,000,000.

In the past 18 months our sales team have acted and advised in the large majority of high value sales on the Rock including sales at The Sanctuary and over 80% of sales at the exclusive (phase 3) Buena Vista Park

The BMI brand and our visibility on media and social media speak for itself, with page followings of near 4,000. We advertise daily and exposure to your property is guaranteed on our website which is updated daily. 

Critical to our success is our ability to provide serious advice, and zero hype! Our market appraisals are supported by experience and knowledge of the market, and we provide real comparable sales supported by our four-tier scale on rates / sqm. 

We are able to provide solid guidance and advice because we are firmly established as leaders in our field with a firm presence in the market over 25 years. 

Speak to us first.


These stats are from currently available properties:

Average Highest Lowest
Current average rate per sqm £7,754.01/sqm £17,516.63/sqm £3,685.19/sqm
Studio average rate per sqm £8,820.31/sqm £10,434.38/sqm £6,724.14/sqm
1 bedroom average rate per sqm £7,689.77/sqm £8,965.52/sqm £6,111.11/sqm
2 bedroom average rate per sqm £7,165.42/sqm £11,811.02/sqm £4,615.38/sqm
3 bedroom average rate per sqm £6,788.23/sqm £11,725.07/sqm £4,139.78/sqm
4 bedroom average rate per sqm £9,151.45/sqm £17,516.63/sqm £5,454.55/sqm
5+ bedroom average rate per sqm £6,937.27/sqm £9,680.50/sqm £3,685.19/sqm

Unit 7 Portland House, Glacis Road, Gibraltar

+350 20051010