Thursday, June 26, 2014

Gibraltar workers look again at renting in Spain as rents soar to unaffordable levels

Sky High residential rents in Gibraltar and people revisit Spain Seems that rents in Gibraltar are simply getting so high that people are re-looking in Spain and working in Gibraltar. The well publicized border problems resulted in many banking and gaming workers moving back into Gibraltar to live and as a result rental values increased dramatically in the last 18 months. A friend of mine bough an apartment in Gibraltar was receiving 1000GBP per month for a modern small 2 bedroom on the runway and on recently changing tenant saw an increase to 1500.00GBP per month.
Within the last 3 months there has been a significant increase in inquiries from people working in Gibraltar looking to lower their overheads and increase there living space. The result for Tailor Made estate Agents in Spain has been a good run on people renting in Alcaidesa beach resort and San Roque golf Country club. Three bedroom 2 bathroom Apartments, overlooking the golf course at San Roque club have recently been renting for around 1000 euros per month. I asked the most recent renters to move to San Roque golf, a Dutch couple in the gaming industry who moved in in June what prompted the move. They informed me the apartment a 3 bedroom in Gibraltar was simply too expensive at 1650 GBP pm a move to Spain saw an immediate saving and the apartment they moved into was much larger and only 1100 euros per month. He also told me that for that amount of saving he was happy to walk across the border which reduced the chance of delays. Here is a good example of a San Roque apartment on the market at present in Terraces San Roque golf San Roque Apartment Link
Two other couples recently moved because they wanted a more recreational feel for young children and with a community swimming pool , kids golf academy, horse riding stables and a nursery school on site at San Roque seemed a good choice. see aerial view of San Roque golf resort Southern Spain

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