Gibraltar Property Transactions on the Rise Post COVID?
This has come as a surprise to us since, given the diet of dire news that we have been subjected to by the international media, we had honestly thought that this quarter would have been a wash out.
It has not. And with an average price of £558,715.08, there also appear to have been no significant reductions in pre-Covid asking prices. Indeed, one particular property sold at just over 10% more than what the seller had been advised by their agent.
“We find that we’re as busy now as we have ever been and have had to ask the firm to allocate more resources to us”, said Corrine Bossino, Head of Conveyancing.
The question is whether the market is holding up against all expectations, or is Charles Gomez & Company continuing to get a higher than average market share?
At the risk of sounding presumptuous, our Property Team has a well-deserved reputation for problem solving and speed, from instructions to completion.
Even so, the market does appear to be showing resilience and, although some adjustment in prices are bound to occur at some point, they still have not – much to the annoyance of some of our institutional friends and associates who had banked on a slide in market prices.
Our unsolicited advice to developers, however, is to remember that “pride comes before a fall”, and if they want to ensure that they reach a safe harbour following the perfect storm of Brexit plus Pandemic, they must work hard to improve the way in which they market their products – the days of inflexible-standard-take-it-or-leave-it-no-guarantees on pre-payments contracts are as dead as the Dodo.