Anyone can buy open-market property in Gibraltar, including non-residents and companies, but restricted-market and government co-ownership homes are reserved for qualifying residents. Almost all homes are long leasehold. A typical purchase involves a 2% reservation deposit, around 10% at exchange of contracts and stamp duty of up to 4.5% on the top slice of the price. Renting is common and often comes first for newcomers.
At a glance
| Topic | Position as of October 2026 |
|---|---|
| Who can buy | Anyone, for open-market property; restricted-market homes need eligibility |
| Typical tenure | Long leasehold (often 99 or 149 years under a developer’s Crown lease) |
| Deposits | About 2% to reserve, usually 10% at exchange |
| Stamp duty, standard buyers | Nil to £200,000, then 2% to 5.5%; 4.5% above £800,000 |
| First- and second-time buyers | Nil on the first £300,000 (not available to companies) |
| Renting | Commonly one month’s deposit; many flats let furnished |
| Residence permit housing | Primary home; rentals need a lease of at least 12 months |
What is the Gibraltar property market like?
Gibraltar is small and densely built, so supply is limited and most homes are flats in apartment developments rather than houses. Prices are generally higher than in the neighbouring Campo de Gibraltar in Spain, which is why many people who work in Gibraltar live across the frontier.
The market is split in two:
- Open market: available to any buyer and can usually be let out.
- Restricted market: homes sold under residence-linked conditions, which generally must be owner-occupied and cannot be let privately. Eligibility and resale rules vary by development.
Government affordable housing sits within the restricted segment. Homes in newer schemes are reserved for residents who qualify under the Housing Allocation Scheme. They cannot normally be resold within three years, and the Government takes a sliding share of profit on early resales. In co-ownership schemes, buyers have historically bought a share of the home from the Government and could buy more later. The share offered, the price and the conditions are set scheme by scheme, so check the sale conditions of the specific development. Newcomers on new residence permits are not entitled to public housing.
We do not quote average prices here. We found no official house price index for Gibraltar, and agents’ 2026 market reports describe trends rather than publishing averages, so ask agents for recent comparable sales in the development you are considering.
How do you buy property in Gibraltar?
Conveyancing follows an English-style process, and both sides use Gibraltar lawyers.
1. Agree the price and reserve
Once your offer is accepted, the estate agent issues a memorandum of sale to both lawyers setting out the price, parties and terms. You usually pay a refundable deposit of around 2% to take the property off the market, subject to contract.
2. Lawyers’ enquiries and title check
Your lawyer raises pre-contract enquiries on matters such as service charges, the management company, alterations and water ingress. They also review the title deeds and the lease chain to make sure the seller can pass good title.
3. Arrange finance
Most mortgages come from Gibraltar-based banks; lenders from elsewhere are uncommon. Mortgage deeds attract their own stamp duty of 0.13% on loans up to £200,000 and 0.20% above that, and releasing a mortgage later costs 0.03% of the amount borrowed.
4. Exchange contracts
At exchange the deal becomes binding and you usually pay a further 10% of the price. Exchange and completion can happen on the same day.
5. Complete and register
On completion, your lawyer sends the balance, the deed is signed and the keys are released. The deed is then stamped and registered at the Land Registry, which is run within Land Property Services. Your completion statement will cover stamp duty, registration fees, apportioned rates and service charges, and any management company or landlord consent fees. Land Registry fees are set by regulation, and published guides quote different figures, so ask your lawyer to include the current fee in the estimate.
Lawyers usually charge a fixed or percentage fee, so ask for a written quote at the outset. A local agent’s 2026 guide puts typical residential conveyancing at about 0.5% to 1% of the price, or roughly £2,500 to £4,500 for a straightforward purchase. Buying through a company is possible, but the company does not get first-time buyer relief, and the structure needs its own legal and tax review (see owning a Gibraltar company as a non-resident).
How much is stamp duty in Gibraltar?
Stamp duty is charged on the purchase price under the Stamp Duties Act 2005. A 4.5% band above £800,000 was added by the Stamp Duties (Amendment) Act 2024. Budget 2026 made no changes.
Standard buyers (third-time buyers, investors and companies)
| Purchase price | Stamp duty |
|---|---|
| Up to £200,000 | Nil |
| £200,001 to £350,000 | 2% on the first £250,000 and 5.5% on the rest |
| £350,001 to £800,000 | 3% on the first £350,000 and 3.5% on the rest |
| Over £800,000 | 3% on the first £350,000, 3.5% on the next £450,000 and 4.5% on the rest |
Qualifying first- and second-time buyers
| Slice of the price | Rate |
|---|---|
| First £300,000 | Nil |
| £300,001 to £350,000 | 5.5% |
| £350,001 to £800,000 | 3.5% |
| Above £800,000 | 4.5% |
The £300,000 threshold was raised from £260,000 and took effect retrospectively from 11 July 2023. Other points:
- Transfers between spouses are exempt.
- A special 7.5% rate applies when government affordable housing is resold within ten years, with some exceptions.
- A proposed 0.5% duty on off-plan purchases was published as a bill in March 2025. PwC’s tax summary, reviewed in August 2026, reports it had not been enacted, and it will only apply once the Stamp Duties Act is amended.
Land Property Services offers an online stamp duty calculator. Check the exact boundary figures with your lawyer, because some secondary summaries overlap at £350,000 and £800,000.
What do leasehold and co-ownership mean in Gibraltar?
Most land in Gibraltar is Crown land. The Crown leases a site to a developer, typically for about 150 years, and the developer grants each flat, parking space or store on a sub-lease, commonly 99 or 149 years. You own the lease, not the land.
Before you buy, your lawyer should check:
- Unexpired term. Lenders generally prefer at least 50 years left, and a short lease can affect value and resale.
- Service charges and the management company. These fund upkeep of common areas and can be significant in developments with pools, concierges or marina frontage.
- Covenants. Some leases limit letting, alterations, pets or who may buy (in the restricted market).
- Lease extensions. The superior landlord can grant extra years by deed, and some developments have been through extension exercises.
Co-ownership in Gibraltar usually refers to the Government’s shared-ownership affordable housing, not private joint ownership. It is aimed at qualifying residents and carries resale and occupancy restrictions, so it is not usually an option for new arrivals.
How does renting work in Gibraltar?
Most lettings go through estate agents. Typical norms reported by local agents:
- Deposit: usually one month’s rent; landlords may ask for more from new arrivals or self-employed tenants.
- Paperwork: expect to provide ID, proof of income and references from employers or previous landlords.
- Furnishing: many flats are let furnished.
- Utilities: usually not included. You open accounts with AquaGib for water and the Gibraltar Electricity Authority for power.
- Access: landlords normally give 24 hours’ notice of visits, except in emergencies.
The Landlord and Tenant Act recognises both written and oral tenancies and contains rules on notices to quit. We could not verify standard notice periods, deposit rules or who pays agency fees, so read those clauses before you sign and get the agent’s fee terms in writing. Photograph the property at move-in and keep copies of every receipt.
For a residence permit, a rental must be your genuine primary home on genuine commercial terms, on a lease of at least 12 months. Holiday lets do not count, and new applicants generally cannot use a boat as their home. An identity or registration card application also needs a rental agreement of at least six months plus the owner’s deeds and rates or service-charge receipts. Our moving to Gibraltar checklist covers the order to do things in.
What property qualifies for Category 2 residency?
Category 2 residency requires approved qualifying accommodation. In practice:
- The Finance Centre Director approves the property, looking at whether its size and type suit you and your family.
- It must be available throughout the year and kept for the exclusive use of you, your family and non-paying guests.
- It can be bought or rented, but you must not let it to anyone else.
- Details of the property go to the Finance Centre Director within two months of your certificate being issued.
As guidance only, Sovereign’s 2026–27 guide cites homes from about £550,000 to buy or £2,500 a month to rent, but neither it nor Hassans describes a formal minimum value or rent; approval turns on suitability. Since 22 June 2026 new applicants pay a £5,000 application fee. In June 2026 the Government also announced a £5 million net worth test; Hassans notes it takes effect only when the Category 2 Rules are amended, with existing holders grandfathered, so check with the Finance Centre which wealth test applies on the date you apply.
The same “exclusive use, no letting” principle applies to anyone who buys a home to support an ordinary residence permit. If you intend to buy and let, keep that property separate from the home you rely on for residence.
Did the 2026 UK–EU treaty change property rules?
Not directly. The treaty does not change Gibraltar property law, conveyancing or stamp duty, and it does not give EU citizens a right to live in Gibraltar. Its practical effect is easier daily crossing, which makes living in Spain and working in Gibraltar simpler and may influence demand on both sides of the frontier. Spanish property law and taxes also stay the same for people buying in the Campo. For the commuting angle, see working in Gibraltar, and for the wider picture our residency hub.