Uk Developer Provides A Rock Solid Investment In Gibraltar
News Posted On: 13 July 2009
One of the most regulated and respected international finance centres in Europe, a base for the rich and famous and with an attractive tax regime, it is no wonder Gibraltar is creating ripples in the property market. Now for the first time in the UK, Taylor Woodrow de Espana is pleased to be offering two first class developments, Tradewinds and Filomena House, to allow UK buyers a rare chance to purchase in this thriving community.
Gibraltar, a self-governing British dependent territory, is a small, narrow peninsula, located at the southern edge of Spain. It overlooks the Straits of Gibraltar, and the northern coast of Africa. As a British dependent territory it has many advantages for the UK property buyer.
The purchasing procedures of buying a property in Gibraltar are simple and comparatively inexpensive compared to other European counterparts. Stamp duty is low; conveyancing fees are low – ranging from 0.05% to 1.00%. You do not need to pay VAT on a property purchase in Gibraltar and there are no further fees to be paid. Plus there is no capital gains tax or estate duty to be paid in Gibraltar.
Additionally, in the 1990s the Government of Gibraltar introduced low tax limits in the form of the extremely popular ‘High Net Worth Residency Qualifications’. This means that a property purchaser, who can prove net worth assets in excess of £2 million, can limit their annual taxation requirements to an attractive fixed amount per annum. Strict qualification codes do apply to this status but the advantages are proving alluring to many wealthy individuals and continue to draw people to the region.
Whilst Gibraltar is self-governing, its legal system is based on English common law, its Chief Justice is appointed by the Crown, and judgements are recognised and upheld internationally. Therefore, Gibraltar continues to provide peace of mind to property owners as they are protected by UK-style planning procedures, processes and law, ensuring property investments are helped to be safeguarded.
Gibraltar is also a ‘hub’ for international business playing host to many financial businesses in Europe including private banking, asset management, taxation and fiscal management companies. This is supported by favourable corporation tax levels when compared to the UK.
On top of these enviable tax benefits, Gibraltar has plenty to offer in terms of lifestyle. For those who like to keep active it offers a wide range of sports activities including water sports and fantastic golf courses nearby. Additionally, the region benefits from beautiful countryside ideal for leisurely strolls and Mediterranean beaches and marinas, providing the perfect area for relaxing.
Gibraltar also boasts easy access to Morocco, which is just across the straits and due to its location Andalusian food and culture is at its prime. With plenty of gourmet restaurants, marina dining and bars and pubs on offer, dining out will never be a boring experience. The high street is buzzing with plenty of shops to keep ‘shopaholics’ satisfied ranging from boutiques to UK household names such as Marks and Spencers and BHS.
Victor Sague, Marketing Director of Taylor Woodrow de España comments: “Gibraltar is a thriving region that offers a plethora of opportunities for people looking to purchase a property abroad. Indeed, with its attractive tax regimes Gibraltar is fast becoming an attractive rival to Monaco, the Channel Islands and indeed any other offshore jurisdiction in the world. Combine this with the country’s mild winters and pleasant summers, effective legal system and thriving community and it is hard to dispute that Gibraltar can only continue to flourish in popularity, making any property purchases a good long term investment.”
Taylor Woodrow’s Tradewinds development is located in the prime commercial and tourist residential area of Marina Bay and consists of 81 spacious one, two and three bedroom apartments including 6 vast, state of the art penthouses including one with its own sky gymnasium. The homes boast plenty of living space designed to accommodate the needs of individuals looking for twenty first century living, together with benefiting from dual aspect views of the marina to the front and the Rock to the back.
The homes are built to high quality standards and boast the very best specifications including: Italian bathrooms with Duravit fittings, Poggenpohl kitchens complete with Bosch appliances, polished wooden floors and air-conditioning. Additionally, the apartments benefit from ample terraces with timber decking and glass balustrades, allowing individuals to sit back and relax and simply admire the magnificent views.
The development comes complete with its own designer pool, communal garden area and underground car parking. It is located in a prime location within easy reach of exclusive restaurants, boutique shops and mini-markets. Prices at Tradewinds for a one bedroom apartment start from £325,000, a two bedroom from £470,000, a three bedroom begins at £495,000 and the luxury penthouse at £2,950,000. The development is 89% sold with only a few properties still available.
For those on a smaller budget Taylor Woodrow’s first ‘Affordable Plus’ development, Filomena House based in the rapidly developing Eastern District of Gibraltar may provide the ideal solution. The development consists of 44 apartments including studios, two, three and four bedroom apartments including two penthouses. Apartments range in size from 34 sqm to 109 sqm and come complete with covered parking and Juliet balconies. Filomena House is located close to the key commercial and business districts of the city centre, along with the Spanish border. Only a few properties now remain at the development with prices starting from £134,500 for a studio apartment, £198,500 for a two bedroom apartment and £240,000 for a three or four bedroom apartment.
With a reputation for trust, Taylor Woodrow de España provides a specialised service and dedicated team within the UK and Spain who can help and advise homebuyers through the entire process of choosing, buying and settling into a new home.
For further information on the developments view the Tradewinds and Filomena developments on line at Property in Gibraltar
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