Local population is now in excess of 33,000 and with more than 30,000 crossing the border from Spain to Gibraltar daily Gibraltar has become one of the most exciting, vibrant, progressive places to live. It is also a real investment opportunity for property portfolio holders.
Originally a strategic military base for the British overseeing the Straits of Gibraltar, the growth began with the reduction in military presence in Gibraltar which led to the handover to the Government of many of the aging military properties. Development opportunities attracted investors which combined with the Gibraltar Governments initiatives to set Gibraltar up as centre of excellence and innovation has led to rapid growth in the business sectors which in turn has attracted workers. Unemployment figures are currently extremely low at 1%.
The opening of Gibraltar’s World Trade Centre in February 2017 with its attractive 23,560 m2 of office space and the opening of Gibraltar’s first University described by Gibraltar Chief Minister Fabian Picardo as “a coming-of-age” for the British Overseas Territory.
The vote to leave Brexit and the announcement in December 2020 that the UK and Spain had agreed in principle to negotiate an agreement through which Gibraltar would participate in the Schengen Area has had significant impact and bodes well for the future.
Gibraltar is now a world leader in the Blockchain technology, Online Gaming, Financial Services and Bunkering. Half of the world’s seaborne trade passes through the straits of Gibraltar.
Living in Gibraltar provides significant tax advantages. Residents benefit from zero capital gains taxes and are not subject to any taxes on share dividends, savings or inheritance. There are also special tax protection statuses such as Cat 2 and HEPPS that cap tax payable on world-wide assets.
There are 7 districts in Gibraltar each quite different.
There is the ‘South District’, away from the Levant Cloud that forms over the Rock of Gibraltar when there is an easterly wind and which keeps much of the Town Centre area in the shade a good part of the year. The South District is the Sunniest, a short 1 km commute and considered the suburbs of Gibraltar reaching out towards Europa point and the views over to Africa and the Straits of Gibraltar.
There is the ‘Eastside’ District with Gibraltar’s largest beaches as well as the beautiful Catalan bay with its multi-colored buildings nestled around a scenic sandy bay. This side of the rock witnesses the rising sun and enjoys cooler evenings as the sun disappears behind the rock late afternoon.
There is ‘Upper Town’, for the fitter who don’t mind the uphill walk or using the outdoor escalator up to the Castle area that towers above the Town. Older. More heritage biased these properties tend to have high ceilings, quirky balustrades and inner courtyards for shade and repose.
In the ‘Westside’ district you will find Gibraltar’s Senior School, Bayside Comprehensive and its brand-new complex for more than 1000 boys and girls. You will also find Morrison’s Supermarket to make you feel home from home, the hospital St. Bernard’s and the Europort Business center.
‘Town Area’ is at the real heart of Gibraltar, with its two Cathedrals, Holy Trinity Church of England and, St Mary the Crowned (Roman Catholic), shops, bars and great access to everywhere. You won’t need a car here.
Finally there are the two Marina Districts ‘Queensway ‘ and ‘Ocean Village’ both with luxury apartments, bars and restaurants, the latter is vibrant and noisy attracting the professional couples due to its proximity to Gibraltar’s World Trade Centre and the other more sedate and serene attracting the retired, wealthy yacht and Marina lovers.
There is in fact something for everyone here in Gibraltar.