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Outlook for Gibraltar property prices?

Outlook for Gibraltar property prices?

Old Jan 18th 2018, 5:14 pm
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Default Outlook for Gibraltar property prices?

I apologize for the "crystal ball" nature of this posting, but I would like to ask if anyone has a view as to whether buying a property in Gibraltar at the present time would be a wise move.

I am an early retiree with no dependents, looking for a low-tax environment in which to live. I have ruled out Spain on tax grounds, and am not overly convinced of the attractions of Portugal's NHR tax scheme.

My focus has now turned to Gibraltar. The problem is in predicting how the current uncertainty over Brexit-related issues will affect property prices. The properties I have been looking at online are all off-plan sales, with completion due in typically one-two years. My fear is that prices over that period will reduce.

I would welcome any opinions from those whose crystal ball may be giving a less cloudy image than mine.

Many thanks.
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Old Jan 19th 2018, 1:38 am
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Default Re: Outlook for Gibraltar property prices?

Any predictions on house prices anywhere, can only be pure guesses. Something like Brexit has never happened before, so there is nothing on which to base any predictions. I am a firm believer in something I always recommended to those who I gave financial and tax advice before I retired, and that is to never chose a permanent place to live, just because taxes are low. Rules can and do change, as we’ve seen with tax havens and their “guarantees” of anonimity . If you check around, you’ll find that all countries with very low or even zero tax rates, have their negatives as well. You cant have it both ways.
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Old Jan 19th 2018, 7:34 am
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Default Re: Outlook for Gibraltar property prices?

Originally Posted by teejaydee View Post
I apologize for the "crystal ball" nature of this posting, but I would like to ask if anyone has a view as to whether buying a property in Gibraltar at the present time would be a wise move.

I am an early retiree with no dependents, looking for a low-tax environment in which to live. I have ruled out Spain on tax grounds, and am not overly convinced of the attractions of Portugal's NHR tax scheme.

My focus has now turned to Gibraltar. The problem is in predicting how the current uncertainty over Brexit-related issues will affect property prices. The properties I have been looking at online are all off-plan sales, with completion due in typically one-two years. My fear is that prices over that period will reduce.

I would welcome any opinions from those whose crystal ball may be giving a less cloudy image than mine.

Many thanks.
When you say low tax environment, what do you mean by that? Like Jersey or Guernsey, Gibraltar is only a tax haven for certain types of business (company) or maybe if you are a high net-worth individual. The reality for most people in these places, is that the cost of living is often higher and the so called tax benefits don't make up for higher property prices, food prices etc. You can basically get tax benefits in every country and it just depends on the individual. When you say ruled out Spain on tax grounds, which taxes are you referring to?

Last edited by Moses2013; Jan 19th 2018 at 7:43 am.
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Old Jan 19th 2018, 7:53 am
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Default Re: Outlook for Gibraltar property prices?

Originally Posted by Moses2013 View Post
When you say low tax environment, what do you mean by that? Like Jersey or Guernsey, Gibraltar is only a tax haven for certain types of business (company) or maybe if you are a high net-worth individual. The reality for most people in these places, is that the cost of living is often higher and the so called tax benefits don't make up for higher property prices, food prices etc. You can basically get tax benefits in every country and it just depends on the individual. When you say ruled out Spain on tax grounds, which taxes are you referring to?
Moses I live in Gibraltar and being retired I do not pay tax on any of my income and many other areas as well.
Cost of living I would say there is very little difference to the UK based on a recent visit there. Unfortunately diesel has now risen above £0.80 a ltr.
House prices are considered high but that depends on where you are comparing them with, also they are still rising.
The future is anyone's guess but I am optimistic.

Maybe the following link will help:-
http://britishexpats.com/forum/siest.../#post12421752
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Old Jan 19th 2018, 8:20 am
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Default Re: Outlook for Gibraltar property prices?

Originally Posted by Fredbargate View Post
Moses I live in Gibraltar and being retired I do not pay tax on any of my income and many other areas as well.
Cost of living I would say there is very little difference to the UK based on a recent visit there. Unfortunately diesel has now risen above £0.80 a ltr.
House prices are considered high but that depends on where you are comparing them with, also they are still rising.
The future is anyone's guess but I am optimistic.

Maybe the following link will help:-
http://britishexpats.com/forum/siest.../#post12421752
True but it's the same in other countries and just depends which areas we're talking about. I used to work for a bank and we also dealt with accounts in Gibraltar. Tax is very complex and really depends on the individual and what kind of income and taxes we're talking about. Of course prices vary but if you are paying £130K for a 1 bed apartment in Gibraltar or you pay €60K for a 1 bed apartment elsewhere in Spain (with a cheaper supermarket) the higher taxation on income makes living in Spain still cheaper.


Not saying Gibraltar isn't an option but sometimes people are fooled by the meaning of Tax Haven.
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Old Jan 19th 2018, 3:34 pm
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Default Re: Outlook for Gibraltar property prices?

Aren't most properties in Gib.leasehold?Even if there are many years left it still isn't freehold as it is in Spain.Perhaps that may be a consideration,it has been for myself but I have grandchildren that I would like to inherit & it could be different for others.It may also be more difficult to walk over into Spain after Brexit & therefore unable to take advantage of the lower prices & fresh produce available.As said,we simply don't know yet.Our British Govn.does have a problem of not keeping to what was expected,like reversal of the 15years voting rule.
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Old Jan 20th 2018, 6:13 pm
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Default Re: Outlook for Gibraltar property prices?

Originally Posted by Moses2013 View Post
When you say ruled out Spain on tax grounds, which taxes are you referring to?
The main ones that concern me are:
  • Property acquisition taxes.
  • Income tax, capital gains tax, wealth tax.

The attraction of Gibraltar to me at least, is based on the following:
  • Income tax. Gibraltar operates a territorial basis of taxation, and so income tax is chargeable only on income earned in Gibraltar.
  • There is no capital gains tax, inheritance tax, wealth tax, gift tax, VAT, withholding tax and no tax on interest or gains made on monetary investments.

At the moment I am just exploring the idea of moving to Gibraltar. I have not been there, although I am planning to visit in April. Once that happens I may decide it's not for me, regardless of any tax advantages.
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Old Jan 20th 2018, 7:30 pm
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Default Re: Outlook for Gibraltar property prices?

Originally Posted by Moses2013 View Post
True but it's the same in other countries and just depends which areas we're talking about. I used to work for a bank and we also dealt with accounts in Gibraltar. Tax is very complex and really depends on the individual and what kind of income and taxes we're talking about. Of course prices vary but if you are paying £130K for a 1 bed apartment in Gibraltar or you pay €60K for a 1 bed apartment elsewhere in Spain (with a cheaper supermarket) the higher taxation on income makes living in Spain still cheaper.


Not saying Gibraltar isn't an option but sometimes people are fooled by the meaning of Tax Haven.
Spanish supermarkets are not necessarily cheaper than Gib.
+ two Spanish supermarkets have branches in Gib
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