Why Buy Property in Gibraltar?
Gibraltar offers unique advantages for property buyers:
- No capital gains tax on property sales (for residents)
- Low property taxes compared to EU countries
- British lifestyle with Mediterranean climate
- Strong rental demand (ideal for investors)
- Safe, English-speaking jurisdiction
Step-by-Step Process for Buying Property in Gibraltar
1. Determine Your Budget & Financing
- Gibraltar property prices range from £250,000 (apartments) to £5M+ (luxury villas).
- Mortgage options: Local banks offer 60-70% LTV for foreign buyers.
2. Find a Reputable Real Estate Agent
- A trusted agency (like Century21 Gibraltar) ensures access to off-market deals and legal guidance.
3. Hire a Gibraltar Lawyer
- Mandatory for all transactions (costs ~1% of purchase price).
- They handle due diligence, contracts & land registry checks.
4. Make an Offer & Pay Deposit
- Standard deposit: 10% of purchase price (held in escrow).
5. Finalize Mortgage & Legal Checks
- Typical completion time: 6-12 weeks.
6. Pay Stamp Duty & Fees
- Stamp duty: 0% up to £350K | 3.5% above £350K
- Legal fees: ~1-2% of property value
7. Complete Purchase & Register Title
- Jeevan Daswani from Attias & Levy, our dedicated lawyer will registers the property at the Gibraltar Land Registry.
Best Areas to Buy Property in Gibraltar
| Area | Price Range | Best For |
|---|---|---|
| Ocean Village | £400K - £3M+ | Luxury apartments, investors |
| Upper Town | £300K - £1.5M | Historic charm, families |
| South District | £600K - £5M+ | Villas, sea views |
| Midtown | £250K - £800K | Affordable housing |
Legal Requirements & Costs
Key Costs When Buying in Gibraltar:
- Stamp Duty: 0% (up to £350K) | 3.5% (above £350K)
- Legal Fees: 1-2% of property value
- Agent Fees: ~2-3% (paid by seller)
- Annual Property Tax: None for residents
Non-residents need approval from the Gibraltar government.
FAQs: Buying Property in Gibraltar
Can foreigners buy property in Gibraltar?
Yes, but non-residents need government approval (usually granted for EU/UK buyers).
Is Gibraltar property expensive?
Prices start at £250,000 for apartments, with luxury villas reaching £5M+.
Are there mortgages for foreign buyers?
Yes, Gibraltar banks offer 60-70% LTV mortgages for international buyers.
Ready to Buy? Contact Century21 Gibraltar Today!
Our experts will guide you through every step—hassle-free!
