1 bedroom apartment for sale

Ocean Village Marina, Gibraltar previous image1 of 4 next image
dining area

Call: 03339 872364 Key features:

With accommodation approaching 70 square metres of space (including terrace of 20 square metre with view across Casemates Square), "Marrakesh Dreams" is a bright and spacious apartment with one bedroom and one bathroom in Grand Ocean Plaza, the second phase of the residential development of Ocean Village. Finished to an exacting standard including a marble tiled bathroom, a "Poggen Pohl" fitted kitchen, built in wardrobes to the bedroom and reverse air conditioning and heating, the apartment further benefits from full width sliding windows providing access to the patio from the living room. A parking space is provided in the underground garage. Residents enjoy access to the 3000 square metres of sub-tropical gardens and 5 swimming pools. Jeremy Boyd, Irish Town

Suite 3B 1/3 Irish Town Gibraltar GX11 1AA
03339 872364  Local call rate

About Jeremy Boyd, Irish Town

J Boyd Estate Agency facilitates the sale and letting of residential and commercial property in Gibraltar.

The aim is to keep it simple by providing all of the advice and help you may need with your property sale, rental or letting.

Clients of J Boyd Estate Agency can expect advice that can be trusted, drawn from 30 years estate agency experience.

3 Year Residency Explained

Private property ownership has seen significant growth in the last 30 years in Gibraltar. The small land mass and day to day practicalities of a land frontier, has meant that some properties in Gibraltar are restricted for sale to qualifying buyers only. These are typically the properties that were initially constructed using Gibraltar Government funding, built specifically as affordable housing, or properties that were previously Government owned but since released to the private market for private ownership.

Generally there are restrictive covenants in the underleases of such properties. For instance, under letting is strictly prohibited.  Restrictive covenants are not the same on all properties that are residency restricted so it is advisable to check first with the estate agent before confirming any decisions.

A qualifying buyer(s) must be able to demonstrate continual residency in Gibraltar for the 3 years immediately prior to purchase to the relevant Government authorities.  This rule applies to all parties that are named on the purchase agreement.  The application for consent from Government would usually be applied for by the purchaser`s solicitor / conveyancer at the time of sale subject to contract.

Buy to Let in Gibraltar

With gross rental yields on buy to let property typically between 5  7% for residential property in Gibraltar, combined with an absence of locally applied Capital Gains Tax, low rent arrears rates, and minimum rental voids it is little wonder that the buy to let market has expanded as much as it has in recent years.

Regardless of whether you are looking to become a first-time landlord or want to expand your existing property portfolio, contact J Boyd Estate Agency for all of the buy to let support you will need.

A complete lettings and property management solution is provided to help you find and secure the perfect buy to let property, as well as let it in the simplest and most cost-effective manner.

Buy to let mortgages

Funding for buy to let is available in Gibraltar. Access for borrowers to mortgage funding will be dependent on the deposit amount, status and other commitments.  Talk to J Boyd Estate Agency as early as possible for general information on the buy to let mortgage market in Gibraltar.

Tenancy agreements

Your rental managing agent will prepare the tenancy agreements in accordance with local market practices. There are no Assured Shorthold Tenancy obligations applicable in Gibraltar so tenancy agreements are covered by contract law.

Taxable income

Although there is not Capital Gains Tax in Gibraltar, all income generated by the letting of property is subject to local tax. All landlords are required to register themselves at the local Tax Office whether they are resident in Gibraltar or not.  It is recommended that all landlords refer to their Gibraltar tax adviser for advice on tax matters.

Stamp Duty

Stamp duty is payable on the transfer or sale of any Gibraltar real estate or shares in a company owning Gibraltar real estate (on an amount based on the market value of the real estate).

The Gibraltar Stamp Duties Act 2005 (as amended) relates only to transactions involving real estate property situate in Gibraltar. The rates of duty applicable are as follows:

Where the purchaser qualifies as a first- or second-time homebuyer and the property consists entirely of residential property:

(i)  Nil % on the first £260,000 of the value of the property;
(ii)  5.5% on any balance above £260,000 to £350,000
(iii)  3.5% on the balance above £350,000

In all other instances:

(i)  Nil % where the value of the property does not exceed £200,000;
(ii)  2% on the first £250,000 and 5.5% on the balance, where the value of the property exceeds £200,000 but does not exceed £350,000; and
(iii)  3% on the first £350,000 and 3.5% on the balance where the value of the property exceeds £350,000.

Additionally, if the property is purchased with the assistance of a mortgage, stamp duty is charged at the rate of 0.13% where the amount borrowed does not exceed £200,000 and 0.20% for amounts in excess of £200,000.

Why sell with J Boyd Estate Agency

J Boyd Estate Agency is passionate about property and dedicated to securing you the best possible price in a competitive and changing market.

With 20 years experience in estate agency in Gibraltar, clients of J Boyd Estate Agency can expect helpful advice that can be trusted. The aim is to keep things simple by providing all the help and advice you or your buyer need at every stage of the transaction.

The benefits of choosing J Boyd Estate Agency to sell your property

·       Access to advice drawn from over 30 years of Estate Agency experience, and over 20 years in Gibraltar.

·       Access to qualified, willing and able buyers registered with J Boyd Estate Agency and via an extensive network of collaborating agents and introducers.

·       A comprehensive marketing strategy using leading Gibraltar and UK facing property portals and a focus on displaying your property in its best light.

·       Frequent and meaningful feedback and market analysis, with all viewings confirmed in writing with follow up feedback soon afterwards.

Cant See What you are Looking for?

Clients of J Boyd Estate Agency benefit from access to 30 years industry experience, and approaching 20 in Gibraltar, leading to an extensive network of contacts to help you find your perfect property.

Not all properties are actively marketed via the usual property portals or web sites. Please register with J Boyd so that you can be notified of any property that might be suitable but not formally advertised.

In addition J Boyd Estate Agency works closely with a network of collaborating agents and introducers giving you the broadest choice possible. or call 03339 872364
Calling from outside the UK? 0035020050033
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