Many companies are re-evaluating their office space requirements and 'working from home', for a growing number of their workforce, may continue post-pandemic. It will be interesting to see how this will impact the commercial property market in Gibraltar.
Given the very short commute (usually only a couple of minutes walk) for many workers in Gibraltar, I am confident that the commercial property market will continue to exist and demand for the same will increase gradually as the economy recovers and restarts. Given the friendly and sociable nature of Gibraltarians, many employees also have very good relationships with their work colleagues which will continue to influence their willingness to continue to attend the office to maintain those relationships and that aspect of their social life.
Furthermore, the majority of property transactions in Gibraltar require "by hand" deliveries of original title deeds, documentation, keys etc. which requires the physical presence of lawyers and support staff in the office to enable us to continue to provide an efficient and effective service to our clients.
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