Report: average value of property transaction up, number of sales significantly down

The average value of property transactions has gone up slightly over the last year, while the number of transactions has gone down significantly.

In 2024-25, there were 344 real estate transactions, in contrast to 638 the year prior.

The figures come from the Business and Office of Fair Trading report for 2024-2025, published today. 

The report acknowledges the decline and says the outlook for 2025 appears more positive, with many in the sector anticipating a modest recovery in buyer enquiries. 

The report outlines key figures over the last year.

Gibraltar has over 4,085 active business registrations, with 454 new registrations added. There are 3,558 licences in issue, up from 2,924.

Business related services, construction, and IT are the top priorities for new business applicants, while food and drink, personal care, and clothing lead in goods.

The OFT received 412 consumer complaints, initiating 71 investigations.

Only six inspections were carried out this year, compared with 87 last year, due to limited operational capacity, which is expected to increase. Complaints focused mainly on consumer rights and general retail.

In real estate, transactions fell by half, from 638 in 2023-2024 to 344 in 2024-2025.

The total annual value dropped from £366,524,157 to £202,179,577, while the average transaction rose slightly to £587,731, up from £574,489.

Nearly £7,000 in fines were issued for anti-money laundering and counter-terrorism compliance, primarily related to customer due diligence and registers of ultimate beneficial ownership.

Business Minister Gemma Arias Vasquez says the report shows momentum in supporting the business community. She says there are preparations underway to rebrand Business and the OFT as the Department for Business. Business and OFT CEO John Paul Fa calls it a year of transition, including the move to Europort and the shift towards the rebranding.

The report can be found here.