In this first quarterly update of 2024, BMI Group offers an in-depth analysis of Gibraltar’s property market, reflecting its resilience and future prospects. After a surge in property prices between November 2020 and May 2022, the market has seen a necessary adjustment, with a slowdown in growth influenced by global factors like the war in Ukraine and rising inflation. 2023 was marked by a realignment, with high-value properties maintaining their worthwhileness. Others saw price corrections. Looking ahead to 2024, BMI predicts stability with slight improvements, cautioning against the potential oversupply in certain segments. Louis Montegriffo, Co-Founder, emphasises the importance of sustainable development amidst numerous new projects, advocating for a market driven by genuine demand and owner-occupier interests.

The Gibraltar Property Update is a quarterly summary of Gibraltar's property update. Brought to you by BMI Group Estate Agents and delivered by Louis Montegriffo, it provides a market-wide snapshot for those looking to buy, sell and invest in real estate in Gibraltar. This update is produced by Motion Gibraltar.