Common Questions We Get Asked – Answered!

In this article, we've rounded up the most common questions we get asked - and answered them all.  Whether you're just starting your property journey or looking to make your next move, we hope this guide gives you a helpful head start.

1. How is the Gibraltar property market performing right now?

This is probably the most frequent question we get - and it’s a great one.

Despite economic uncertainties in the wider world, Gibraltar’s property market has remained remarkably resilient.  The unique combination of limited space, strong demand, and Gibraltar’s appeal as a financial hub means the market remains competitive, particularly for well-located apartments and investment properties.

While prices have stabilised slightly in some luxury prime real estate and off-plan developments, the Local Market properties and mid-market continue to generate strong interest.  There are currently a lot of properties listed for sale and so pricing is key.  If things are priced correctly they will sell with minimal haggling.  Our current pipeline shows an average sale price to be 97.6% of asking price.

2. Is now a good time to buy in Gibraltar?

In short - yes, if you’re planning for the medium to long term.

Interest in Gibraltar remains strong due to its low-tax regime, political stability, English-speaking legal system, and warm climate.  Demand continues to outpace supply, especially in traditionally family orientated areas such as South District, Upper Town or Westside..

For buyers looking to relocate, invest, or secure a foothold in the market, timing the market isn’t as important as time in the market.  Waiting for a “perfect moment” can often mean missing out on ideal properties.

3. What are the most popular areas to live in Gibraltar?

It depends on your lifestyle and budget, but here are a few local favourites:

• Ocean Village – A modern, waterfront development popular with professionals and investors.  Amenities, bars, and views make it highly desirable.

• The South District – Known for being quieter and more residential, with spacious homes and sea views.

• Queensway – Central, high-end apartment living with easy access to Main Street.  Queensway Quay is considered the "more mature" marina than Ocean Village; quieter and more tranquil.

• Catalan Bay – A picturesque beachfront village with a strong sense of community.

Every area has its charm, so we always recommend arranging a tour to get a feel for the neighbourhoods that suit you best.

4. What’s the process for buying a property in Gibraltar?

Buying property in Gibraltar is relatively straightforward, particularly compared to other jurisdictions.

Here’s a brief step-by-step:

1. Find a property with the help of an agent (that’s us!).

2. Make an offer - we negotiate with the seller to find an agreement that pleases all.

3. Pay a 2% holding deposit (held by us - subject to contract)

4. Once accepted, instruct a local solicitor to conduct the legal checks.

5. The solicitor completes due diligence and arranges contracts.

6. Pay 10% to exchange contracts, making it legally binding (usually occurs within 6-8 weeks)

7. Completion - pick up the keys! (usually a week or so after exchange, can happen simultaneously with exchange)

There’s no stamp duty on purchases under £300,000 for first-time buyers, and Gibraltar Land Titles Registry ensures clear property ownership.

5. What fees should I budget for when buying?

Here’s a rough breakdown:

• Legal fees: Around 0.5%–1% of the purchase price.

• Stamp Duty: Tiered depending on price and buyer status (ask us for an up-to-date table).

• Mortgage fees (if applicable): Can vary; your lender will advise.

• Agency fees: Paid by the seller, not the buyer.

So, for buyers, the key is budgeting around 1%–2% extra on top of the purchase price for a smooth transaction.

6. How do I let out my property in Gibraltar?

Letting out your property in Gibraltar can be an excellent source of income.  We offer a full management service for landlords, from finding tenants and carrying out referencing, to collecting rent and managing maintenance.

There are two main types of lets:

• Long-term lets (6–12+ months): Popular with professionals and families.

• Short-term lets (holiday or serviced lets): Requires registration and more active management, but can generate higher yields.

We're happy to advise you on rental valuations, compliance, and which letting strategy suits your property best.

7. Can non-residents buy property in Gibraltar?

Yes - non-residents are welcome to buy property in Gibraltar with very few restrictions.

Gibraltar actively encourages foreign investment.  Many international buyers are drawn by the strong legal system, investor-friendly environment, and ease of doing business.

That said, certain developments (like affordable housing schemes) may have eligibility requirements.  We’ll guide you on what you can buy and where, based on your residency status and goals.

8. What kind of returns can I expect from rental properties?

Yields vary depending on location, size, and tenant demand.  As a general guide:

• 1-bed apartments in central locations typically yield 4%–5% annually.

• Luxury units or penthouses will have slightly lower yields but may have less maintenance required.

• Short-term rentals can command higher rates during peak seasons, but require more active management & licensing and have a higher chance of void periods.

We’re happy to provide tailored yield forecasts for any property you’re considering.

9. What makes Richardsons different from other estate agencies?

At Richardsons, we pride ourselves on a genuinely personal approach.  We're a family-run business with deep roots in the Gibraltar community, and we see every client as a long-term relationship - not just a transaction.

We blend local knowledge with international standards of service and are proud to be flying the flag for regulation and standards in a largely unregulated market.  Whether you're buying your first flat or selling a high-end residence, we’re here with honest advice, practical support, and full transparency at every step.

Our clients value our proactive communication, attention to detail, and ability to match the right people with the right property.

10. How can I get started?

Easy! Whether you're buying, selling, renting or just looking for guidance, you can:

• Visit us at our office in College Lane, Gibraltar

• Call or message us directly

• Or simply browse our latest listings on our website

Even if you're just thinking ahead or exploring your options, we’re always happy to have a no-obligation chat.

Have more questions? We’d love to answer them. Get in touch with us today and let’s start planning your next move in Gibraltar.

call 00350 200 79210

WhatsApp: 35056004845

or email info@richardsons.gi