KATHLEEN NORTH - page 2

Art & the Home

Humans have looked to art as a way to improve mental health and well-being and add character to the home for centuries. Today, we know even more about the science behind art. Studies have shown that viewing art reduces depression and anxiety while increasing feelings of love and empathy.

Here are a few aspects about the importance of art our homes and why it is a good idea to incorporate art into your space.

Creating the outside inside

Art is a great way to add the natural elements of the outdoors to your luxurious interior design. Photos and painting of the great outdoors are one way to add some natural texture and color to your home, but you might also consider adding some plants.

If you travel too much to care for live plants, you may consider implementing some faux plants to your design. There are many high-end faux plants that are nearly indistinguishable from the real thing.

A splash of colour 

Neutral colours throughout your home is a great way to keep your home looking clean and modern. However, you might find that you’re missing a little splash of colour. A large painting, a few prints from your favourite photographer or a dynamic sculpture can give energy to a room.

Personalise your space

Modern, luxurious homes don’t have to be void of personality. You can have clean lines and sleek surfaces while still making your home feel like yours. One of the best ways to do that is by incorporating art. Seek out artists who create their pieces with a style that resonates with you. This could be a photographer, painter, sculpture, or digital artist.

If you are decorating your family’s home, consider displaying a few family portraits to really make your space uniquely personal.

Arresting lighting

The lighting that you choose to hang in your home can take it from ordinary to extraordinary. What better way to display your art than by illuminating it and hanging it from your ceiling, mounting it on the wall, or displaying it on a table?

When you incorporate lighting in a room, layering it is important. This will allow you to change the lighting, depending on the time of day and the ambiance you’re going for. Consider hanging a luxurious chandelier in the center of the room and then adding high quality smaller light fixtures to the walls and table lamps.

Hallway Lighting 

The hallway of your home is your first chance to communicate your style with your guests. This might be where you want to display some of the more understated pieces of art to give a little sample of what’s to come. On the other hand, you might want to show off your most impressive pieces as soon as your guests arrive.

Unique pieces

Nothing says luxury like exclusivity. If you want to make your home truly unique and dramatic, seek out one-of-a-kind pieces or commission a designer to make something just for you.

Bespoke pieces of art are the perfect way to get that one item that might be missing from your home. If you have been searching high and low for the perfect item without success – take matters into your own hands. Commission a piece to your specific taste.

Art Inspires and encourages Creativity

In rooms with no art, artistic expression is absent and therefore the desire for creativity is not very prominent. On the opposite end of the spectrum, handcrafted art fosters creativity, expression, artistic inspiration. This is particularly important in homes with children as being surrounded by artwork will allow creative thinking.

Art in home décor says something about the people who live in that home. Art tells a visual story.

If you adore a particular artist’s works and display their art in your home, you are showing your own personality. Your visitors will understand what you enjoy artistically by giving them more insight into exactly who you are. 

You are also injecting personality into your home itself. Moving in somewhere and having blank walls staring back at you is difficult. Everyone wants to make their property into their home as soon as they can. Adding art to the walls is a quick way to do this and it will create inspiring surroundings immediately.

Art helps define a space. It provides a focal point for each room it is placed in. When you enter a room, your eye typically goes to the dominant piece of art straight away. This is the power of art– it draws people in. As a focal point, the piece of art becomes something people talk about. Homeowners typically like when guests ask about the art on their walls. It generates interesting conversations about people’s own interests and artistic preferences.

In the end, our decisions for art are indicative of our own experiences, our own stories, sensitivities and current emotional state. Whatever you pick, be sure that when you look at it – whatever it evokes – it does not exacerbate those darker places in our minds we often tend to dwell in.

Art has the genuine ability to uplift moods, to change the spirit of a room. The days of classical paintings embellishing personal spaces may be gone but there are still a multitude of ways in which art can transform a home and the artistic dynamic within it.

Whether it is a memory or a feeling, a piece of art can evoke powerful emotions when we look at it. Art can cheer us up after a bad day, make us remember, or inspire us to do more in life. It can provide comfort that we are not the only ones feeling a certain way.

Art in the home is an inspiring, some would say essential part of our home landscape and reflects who we are.

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Lighting your home

The lighting in a home is something that many people fail to consider and yet it has a massive impact on the appearance and the feel of the room.

What we are able to create with lighting can make a significant difference to the mood and feel of a room.

The placement, type, and brightness are all integral aspects of making a room enjoyable to spend time in. These things will depend on the availability of natural light, the size of the room, the selection of furniture, and its overall purpose.

When the right lighting is achieved, it can transform a room, combining style and functionality to make the interior design of your home everything it can be. Lighting is often an affordable way to give a space a fresh perspective and lease of life.

As well as working with the colours of a room, you can also purchase coloured lights. Coloured lightning lighting has powerful subconscious effects l. For example, a blue light encourages calm, trust, and faith, whilst orange light creates a friendly and welcoming atmosphere that encourages productivity.

Paula Boston, Visual Merchandiser at Festive Lights believes ‘Lighting is increasingly used to imbue your home with personality and feed all of the senses, create a cozy setting and a warm ambience. These effects can be achieved by layering your lighting, from candles to lamps, and choosing to incorporate technology such as dimmer switches to control the different areas of light and shade. Dimmer switches are a helpful addition to a dining room to set the tone without sacrificing visibility. Wall lighting such as wire curtain lights, lamps, and lanterns, on the other hand, will create points of interest for guests to enjoy a conversation. If you’re looking for something more low-key, LED candles are great for adding subtle atmospheric lighting and are perfect for use around children and pets.

If it is not overdone, colourful lights also play a role in helping to set the mood and surrounding atmosphere. Warm colours such as red or orange will bring luxury and cheeriness to any corner of the home- perfect for the colder months. 

With an average lifespan of up to 100,000 hours, LED lighting trumps any other traditional bulb, including incandescent bulbs and halogen bulbs which will probably only last for 1000 – 2000 hours. However, the lifespan of your LED lightbulbs depends on how often you use them, with other factors such as excessive heat or moisture making the bulbs susceptible to LED degradation. While the materials, durability, and safety of our lights have been perfected thanks to over 10 years of research and development, it’s important to make sure that your LEDs are fitted correctly. If they are incorrectly fitted, they may run on high electrical currents which could cause problems for the longevity of your lights.’

The most important thing about lighting in general is that it reinforces the architectural idea of a space but it also needs to create the right atmosphere. In an open-plan living room, it is crucial to make areas within the overall space and have different possibilities for when you are eating, watching a film or cooking.

Don’t be too even with lights – you want diversity and contrast. One way of doing this is by having light at varying heights, such as table lamps, floor lighting and lighting integrated into the ceiling in different directions.

Vanessa Morgan, director of interior design and build specialist Ven Morgan states ‘Lighting should have a purpose: either to create a mood, enhance the space, provide drama or support the undertaking of tasks. There should be attention paid to the colour temperature of bulbs – Colour temperature is measured in Kelvin (K) – the lower the number, the warmer the white light appears, while a higher Kelvin will appear cooler. Layered lighting in particular is important for tasks, mood – and decoration of course. There is a variety of decorative types of lights from table lamps, wall lights, pendants and downlighter but if using ceiling downlighter, these shouldn’t necessarily all be used in a grid! finally, in winter, it’s good to have atmospheric flickering light so consider candles, flames.’

Perhaps the most important aspect to consider when looking for ways to improve the lighting in your home is its functionality. There is no point in investing in different lighting solutions if they are never used, or they do not serve the purpose of improving the way you feel or spend time in your home. If it isn’t serving a purpose, then it is only wasting electricity – an important factor, especially at the present time.

Lighting tips:

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Include at least three sources of light in each room: General lighting (overhead or pendant), Specific lighting (task or table), and Ambient lighting (sconces, candles, or decorative).

•
Maximise natural light by keeping your windows clean—it’s cheap, simple, and really does make a difference.

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Choose the right shade for your fixtures: White shades let more light pass through but can create a colder tone, while colored shades will tint light, making it appear creamier, warmer, or cooler, depending on the hue you choose.

The important truth regarding lighting is that there are no set rules. Everyone has a different idea about what type of lights they like and the level of light that is pleasing to them. 

Some people like pockets of light for a homely feel and others a bright and airy feel. Whatever you prefer it is worth building a degree of flexibility into your design so you can change the feel and ambience of the room if and when you want to. 

Festive Lights:

festive-lights.com

Ven Morgan:

venmorgan.com

Spring Property Insight

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Property Market Update

Property Insight turns to BMI Managing Director Louis C
Montegriffo for his analysis of
the local property market.

High value clients (Cat 2 / Hepps) and other applicants relocating to the Rock continue to represent a significant part of our business and growth in the property sector.

Over the past few years we have seen continued growth in the gaming industry, with substantial investments which suggest a long-term presence in Gibraltar. The DLT sector and the Finance Centres’ foresight in regulating the industry at technology level is already proving to be hugely successful and has the makings of developing similarly to the online gaming sector, which has, over two decades been responsible for substantial growth.

We believe that there are numerous fundamentals surrounding our economy which will underpin further consistent growth. We are therefore optimistic and side on a real prospect that prices will hold at current levels and may see further growth particularly within the upper tiers and owner occupier driven sectors.

Underpinning all the above however, will be our ability as an economy to overcome the very real uncertainties surrounding the Gibraltar aspect of the Brexit agreement and how any agreement or not will impact the property sector and the wider Gibraltar economy.

Market Update

The market has performed phenomenally since November 2020 with increase in prices to April/May 22 of up to 60/70% in certain segments and high value locations. We have seen the larger high value properties achieve some substantial increases in prices driven by huge demand and a lack of supply in this sector. In general terms we have seen an average increase in prices over an 18-month period of approx. 40-45%.This took the average price or property in Gibraltar toward the second half of 2022 to approx. £900,000.

Over the past 5 years we have commented on various segments in the market and how they may be driven by different factors. We believe that our forecasts have been accurate and our signalling of caution in segments such as the studio market has been important. This market has not necessarily enjoyed the same growth over the same period as reflected within other larger high end properties, and due to an over-supply and a lack of suitable end users, we are seeing a decline in prices with continued increase of listings both to let and for sale.

Our view in general terms is that the market in the second half of 2022 did in fact slow down in pace of sales volumes and price hikes – a sensible reaction under the circumstances. Aside from the pending agreement which is quite clearly affecting our ability to provide longer term stability and some certainly of direction within the economy, the War in Ukraine has led to most Western economies reaching a breaking point. The pace of interest rate increases not seen since the early 90’s is to a degree (locally) presenting concern and, it is only normal for there to be a degree of uncertainty and nervousness affecting our position and ability to be wholly positive about the short term.

Regardless of these worrying factors which all have a play in our future prospects, the second half of 2022 showed that sales volumes (albeit a little light), remain constant, and although there is an increased supply of properties for sale and to let, sales are being achieved with less of a frantic pace as seen previously. This is particularly the case with larger properties at the mid to high end segments.

As has been the case in so many of our previous updates, we place a great deal of importance on the impact of off-plan sales and the quality / profile of buyers; we do not tire in repeating simple logic, “owner occupiers” will always drive the sector – “let the market drive the market”.

This has been proven over the past 24 months where larger higher value properties have seen some incredible prices increases of up to 60/70%, driven by owner – occupiers and a lack of supply at this end.

Lettings – Property Rentals

We started 2022 with available numbers decreasing rapidly, to the point where numbers had fallen to an average of 5 units available to let. Demand clearly impacted yields positively with increases in rents from 2021 to Q1 of 22 of approx. 15-20% on average. As was the case with availability on sales however, we began to see an increase in availability during Q2 and Q3 of 22 which to date has seen an increase in the lettings market rise to an average of 40 units. We are not considering the volumes in availability on studios, as this would more than likely take numbers to over 90 properties to let. 

Based on this new wave of supply, rental prices are declining and yields in our view and based on sales values are down to approx. 3.8% – to 4.2%.

A sensible 4 tier market

Our thoughts on a developing 4 tier market (low, mid, high, ultra-high) as described over the past 8 years are now firmly accepted. We believe that this more than serves as a positive indicator of the potential that the market continues to enjoy. The very fact that we are attracting a new ultrahigh segment is the clearest sign of confidence from a new emerging market, which we believe is here to stay – but which is dependent on a stable Gibraltar where we are able to at the very least offer a longer term forecast of what we can offer.

It is our firm view that we have a healthy property sector, split sensibly amongst four tiers. Few Finance Centres / Financial Services jurisdictions can boast such a cross section in the market, catering an array of property segments for various profiles – this in our view, once again shows the maturity of the market.

Commercial Property in Gibraltar

With respect to current availability / stock, it is safe to say that there are options in various locations, but particularly so in older commercial developments. The offering is generally lower quality and in certain areas, compromised in terms of layout flexibility and sizes.

There is no question that an element of decanting from the older commercial properties into the newer and better designed office schemes has been the order of the day over the past 48 months. Worthy of note is the fact that letting rates/sqm have not been compromised at the higher end due to the decanting, in fact quite the opposite; applicants are prepared to pay high-end prices for high end specs. In our view this creates an opportunity for landlords with older (decanted) buildings, to upgrade and provide the market with improved offerings to market.

We take the view that new modern office options will only serve to improve the commercial offerings in the market and will generate new business steered by new expectation which once again serve to underpin the positive future for Gib Inc.

In light of the Covid pandemic and the advent of a greater volume of employees working from home, there is a case to be made in so far as less demand or a request for reduction in office space, particularly for the larger office users. We believe that this has not directly affected the high rates for Grade A offices being achieved, but there may be some circumstances where negotiations on rent reviews may now favour the tenant. 

Having said all the above, we take a great deal of confidence from the fact that the economy continues to grow under difficult circumstances, regardless of recent events we remain in a good position albeit in a transitionary period where new business and new entrants may be waiting to hear news of “the Agreement” and the impact that this will have moving forward.

New Off-plan Developments and their impact

Currently and at the time of writing, Eurocity, Marina Club, North Gorge and The Reserve are the only major off-plan developments which are under construction, with the latter two being the only one primarily steered exclusively to the owner occupier segment.

We are seeing a great many re-sales at Eurocity, particularly studios and one beds and continue to be of the view that prices within these types of properties may suffer, with available volumes on smaller units increasing by the day. E1 and Forbes, completed during the end of 2022 and whereas we have seen good movement in Forbes which comprises of a wider range of mixed units, E1 which is primarily studios and smaller one bedroom units has seen a great many of the properties come back to market on re-sale and rentals which is seeing price expectations primarily on rentals affected – with expectations on yields being compromised.

We have been fortunate, thanks to a thriving economy and new entrants across the board (commercial / retail / financial service / gaming / DLT / private clients) to find ourselves in a not uncommon situation of a serious lack in supply for larger higher value high end properties, which has led to a hike in prices that had not been seen since 2007 and then again in 2013. 

There is a need and demand for new off-plan projects and we will see the last phase of the very successful Midtown Development come to market in the 1st part of 2023; we look forward to more of this, whilst also throwing some caution in so far as the current climate surrounding us remains. The Victoria Keys reclamation and of course the Eastside project are developments that will in time materialise, but at present it would be safe to say that these are more at planning / infant stages.

In addition to this, there are of course numerous projects (up to 5 in total) filed and lined up at Devils Towers Road. It remains to be seen at what pace these may materialise, once again because of the current climate of uncertainty that we are experiencing.

Fundamentally however, when it comes to sensible planning and knowing your market and your profile buyers, we have always maintained that a mix of owner occupiers, seasoned investors and a small measure of speculators is healthy, any overdose of the latter and you run the risk of exposing the market to an oversupply trend and in turn a property bubble. We saw this very situation in 2008 and in not such a large degree in 2014 and again 2017. 

Thankfully, because of our well protected economy, Gibraltar has (in the past 25 years) weathered over supply storms and downturns better than most. In today’s climate where we are experiencing higher interest rates, an oversupply of smaller units, a UK in recession and no agreement in sight, we do expect to see and are seeing a downturn in prices and yields in over supplied segments.

Property values as indicated have grown enormously in most sectors since November 2020. We have seen this rally slow down and adjust since May 2022.

Our take for the future very much depends on the impact that higher interest rates have on the local economy and, as mentioned already, the pending agreement with Spain.  New business for Gibraltar is present, but we feel that the pace seen over the past few years has settled as uncertainties are very much in play – stability and a clear sense of what we are able to offer in the longer term is crucial; at this stage it is difficult to present a clear picture.

We believe that the private client space will continue to feature highly as we see high value clients looking for jurisdictions that can afford them a safe, proactive, low tax and regulated environment. Historically, where the world has been in crisis, jurisdictions like Gibraltar do well and invariably attract high value clients looking for stability in safe well-regulated locations.

We believe that we have the potential to draw on this and continue with the journey that we have witnessed so far.

Louis C. Montegriffo Managing Director  BMI Group.

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A Cosmopolitan Oasis

Renowned for its Barbary Macaques, paradisiacal summers and prime location as an overseas British peninsula bordering with Spain, and a stone’s throw away from Morrocco, Gibraltar properties are highly sought after. Property for sale and rent in Gibraltar is in high demand, and continues to grow and expand its horizons. Revered for its breath-taking views, affluent infrastructure and strategic location, Gibraltar is the epitome of summer splendour and a worthwhile investment all year round.

Why Gibraltar? 

Gibraltar’s location is truly unparalleled when it comes to property investment and daily life. Renowned for its security and tightly knit community, Gibraltar is not only a beautiful holiday destination boasting colourful sunsets, healthy Mediterranean cuisine and a high quality of life, but is a mecca of cultural diversity, peace and integration. 

This holiday haven is ideally situated close to Spain, Portugal and Africa, and offers frequent daily flights to the United Kingdom. Additionally, Malaga and Jerez airports in the south of Spain are a one hour drive away, and provide flights to many international locations.

Not only is Gibraltar rich in history and culture, offering various tourist attractions such as the Great Siege Tunnels, St Michael’s Cave, the Moorish Castle, and popular for its Maritime industry, but it also frontiers with Andalucia which is peppered with must-see hidden gems such as the cities of Seville, Granada and Cordoba.

Being a short drive to the cosmopolitan fortress that is Gibraltar, one can appreciate the illustrious landscape showcasing the blue mountains of Africa along the horizon. With many places of interest being easily accessible, Gibraltar makes for the ideal location to invest in a property and a place to call home.

Property as Investment 

Investing in a property in Gibraltar is certainly a profitable move. With the increase in market value, high net worth individuals chose sunny Gibraltar to invest their assets in the property market.

Aside from its attractive location, Gibraltar is a well-regulated and booming finance centre which offers a competitive low tax regime, and an appealing one for those wishing to obtain Category 2 status. Gibraltar’s unique status, location, exclusivity, affluence and quintessential charm serve as both the perfect holiday haven, home to settle down, and investment opportunity. 

That magical moment when you first step into the property that will become your future home is an unparalleled feeling. In Gibraltar, there are a variety of different property types. From studios and one-bedroom flats for investment purposes, to larger affordable housing developments, to stand-alone homes in areas such as the upper rock and Queensway Quay Marina, nestled away from the nearby bustling town centre. 

Surrounded by both the Mediterranean and Atlantic Ocean, this exotic oasis showcases a jaw-dropping coastline from many properties around the rock. Properties located slightly outside of the town centre offer sea views and multiple amenities including residential pools, gyms and private parking spaces. Additionally, with frequent buses connecting the different areas of the peninsula, travel is made simple and efficient. This picturesque location, globally renowned for its long lazy summers and mild winters, is perfectly situated against the peaceful natural surroundings of the rock, and make for an ideal investment opportunity. 

Affordable Housing 

With the affordable housing scheme in Gibraltar, many first home buyers opt to purchase an affordable home. With Hassan Centenary Terraces, Bob Peliza Mews, and Chatham Views Estates being the most recent new developments, this provides a fantastic long-term investment option for first-time buyers. 

Hassan Centenary Terraces boasts a stunning ocean view, and is conveniently located next to Eastern Beach, while Bob Peliza Mews and Chatham Views Estates are centrally located, providing easy access to the town centre and local amenities. 

Additionally, following a high standard British school curriculum, Gibraltar’s schools are conveniently located in various catchment areas of Gibraltar, and foster a safe and close sense of community. Indeed, the affordable homes are an attractive option for families and individuals looking to reside in Gibraltar on a long-term basis.

The Legal Process 

When it comes to the legal process, once you have chosen the property you wish to purchase, your estate agents will require you to pay a deposit equal to two percent of the agreed purchase price and a reservation agreement entered into by the parties. Our law firm is on the panel of most lending institutions in Gibraltar, so once a mortgage is secured, the lending institution will contact us with instructions to secure their interest and provide them with the pertinent required documentation. 

We will then carry out property searches at the Land Registry in order to establish that the vendor has proper title to sell, and make preliminary enquiries with a view to unveil any possible irregularities prior to entering into a binding contract. Once good title is established, the legal documentation will be drafted and circulated for approval by all parties in readiness for completion where a date will be agreed and funding can be made in good time.

After the completion phase, we will pay stamp duty (where applicable) and register the documents pursuant to the laws of Gibraltar. The stamp duty payable will depend on the value of the property and the amount of the mortgage, and a registration fee will be paid to the Land Registry.

Our Firm 

Our Firm acts for a number of estate agents and developers, as well as for landlords, management companies, tenants, vendors and prospective purchasers, thereby providing clients with a wealth of experience in the area of property law. 

Our Partners and Associates have also acted for banks, building societies, financiers and developers in several of the large residential or commercial developments in Gibraltar. The firm is well placed to represent a variety of clients in relation to new developments in Gibraltar, and is active in advising property developers, financial institutions and property purchasers. Our legal team is always available for a consultation to advise our clients on legal matters, and offer the utmost support in your new and exciting Gibraltar property venture!

Contact Information:

Attias & Levy

First Floor Suites, 39 Irish Town, Gibraltar

www.attiaslevy.com

info@attlev.gi

+35020072150 

Words by Tamara Levy Attias & Levy

A day in the life of a Chartered Surveyor

My name is Paul Gibson MRICS a Chartered surveyor for almost 40 years being one of two surveyors within Gibson Gale Chartered Surveyors working alongside Nicholas Gale MRICS. We have offices in City Mill Lane which we share with NP Estates an associated company. 

I was asked to write an article for the Insight Magazine on some aspect of our work and I thought it would be interesting for the reader to get an insight into my typical working day which in this case was Monday the 20th February 2023.

7am 

The alarm sounds and out of bed into the shower followed by breakfast then a walk with the dogs and off to work. I travel by push bike into work and around Gibraltar which as a keen cyclist works well keeping my fitness levels up, is environmentally friendly and gives me no parking headaches as my folding bike goes with me into the office. 

8.45 am 

Arrived at the office, Justin from the Agency has arrived already and is busy on his lap top, the air conditioning is on heating the office otherwise all nice and quiet. I set up my laptop, make tea, check diary and finish off a bank valuation from the day before. For some more difficult valuations I will often sleep on it before issue in order to look at it with a ‘fresh pair of eyes’ in the morning. Valuation is not a precise science; it relies on the judgement of the valuer taking into account several factors of which market sales evidence is usually the backbone. We collate such data from our own records but in times such as these where we have seen such a large uplift in values over a relatively short space of time also need to contact property agents to obtain up to date, a process which is quite time consuming. Unfortunately, unlike in the UK we do not have a free open residential land register to fall back on.  

9.15am 

On the bike for the first appointment up at Europa Walks a former MOD housing estate near Europa Point which was released for sale a few years ago by tender and where we have seen resales showing very large uplifts in value. After a cycle up Europa Road, I arrive at the estate and spend a few minutes in the maze of alleyways trying to find the house. I am greeted by the owner whose first words are ‘hope you don’t mind dogs’ just ignore him. A large Labrador comes into view who immediately busies himself smelling my shoes and trousers and then follows me as I go around the house measuring and taking pictures. I normally have no trouble with dogs, the only time was with a large great Dane in a villa in Spain whose owner said he is very friendly which he was initially, but he proceeded to sneak up and playfully nip me from behind which the owner but not myself found highly amusing. The subject house had been improved internally but had no views, price agreed was high but was in line with other recent sales.

10 am 

Back in the office, the volume of sound has risen since departure all of the NP staff are in place and my business partners parents have also arrive with Churros and coffee. Spend 10 minutes chatting then off to my desk which is on the mezzanine level above the main office.  No rest from the noise but I mentally turn off from it and immerse myself in e mails and messages before downloading photographs and working on the report. This one was quite straightforward and have soon completed the draft which I have sent to Nick for comment.

12 noon

Off to inspect a shop for a rent review where we are acting for the tenant.  I have the usual problem of getting to the property without being spotted, 20 meters from the office and still on City Mill Lane and my name is called, it is an agent wanting my opinion on the value of a property. This takes a good five minutes after which I am stopped twice more on Main Street by friends, after 15 minutes arrive at the property. Main Street is a great meeting place but an area to be avoided if you are in a rush. Spend some time with the client discussing the case, requested a copy of the lease and obtaining details of the passing rent. I measure the property and take photographs. On my return journey I pick up a sandwich to consume in the office.

1 pm 

I check the official business register which accessed on line  to obtain details of the subject shop and any recent comparable reviews or lettings in the area. The business register is useful, but it is not up to date or comprehensive, the registrar takes time to enter the information and the supply is reliant on property owners and tenants also supplying the information. The register is still very useful as it provide data such as floor areas, parties to the agreements and historical information. As valuers we also keep comprehensive records of sales and lettings on Main Street which we have obtained from past valuations and discussions with agents, landlords and tenants. The lease arrives by e mail and I carefully read and the clauses relevant to review are noted, measurements taken earlier are processed after which I commence writing the report. A report is often worked on for a few days as data is received and compiled.  In this case I Spend over an hour on the initial process before being distracted by other pressing matters such as dealing with phone calls, e mails and issuing the valuation with invoice for the Europa Walks property which has been returned by my colleague.

2.30 pm  

I sought access for apartments which need  snagging in Eurocity of which we have several instructions only to be informed that they are still not ready. I think the developer wants the lifts functioning prior to allowing acces which after walking up the 19th floor for the valuations a few weeks ago I would also prefer. As a practice we undertake pre completion defect reports (snag reports) and also the more comprehensive pre purchase property surveys on house and apartments. 

3 pm 

Check over one of Nicks bank valuations and issue along with our invoice. 

3.30 pm 

on the bike again for a meeting with NP Estates sales team at a property in the South district, I have been asked to provide advice for marketing an unusual property.  I do not often get directly involved with NP Estates matters but occasionally advice is required or in certain cases I take over some functions such as where we needed to coordinate the renewal of the air conditioning system within a large office building in town. I measure the house in the south district and then hope to get away but as always with agency work the relationship with the client is differs and we have along chat over coffee. Not back in the office until 4.45pm and we agree to speak about the values in the conference room the following day.

For the last 30 minutes I return a number of phone calls, set up a survey and valuation for the next day, update our accounting system in respect of the invoices issued and confirm receipt of two further bank valuation instructions.

5.30 

Turn off computer and leave the office on my bicycle. On arrival in the house, I am greeted by my wife and the dogs who are eager for their evening walk.

For valuations, survey’s, rent reviews, pre completion condition reports please contact us on:

Tel: + 350 200 48532: 

Online: www.npestates.com

Visit: 
31 -33 City Mill Lane,
P.O. Box 1418

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Consumer Awareness: Rental Deposits

As part of its awareness program, the Office of Fair Trading (OFT) is issuing this guidance to consumers who have paid a rental deposit in connection with their rental of a property. This will assist consumers to understand how a landlord or letting agent should handletheir rental deposits.

Deposit Payment

When entering into a new rental arrangement a consumer will commonly be asked to pay a deposit. The following principles should be observed:

• Before a deposit is paid:

1
the consumer must understand what the deposit is for;

2
all terms and conditions surrounding the circumstances under which the deposit is to be held, refunded, kept, or used towards the rental or tenancy agreement or other must be clear;

3
all terms and conditions must be in writing and agreed by all parties; and 

4
a copy of the agreement must be provided to those parties

•
Depositspaid to a letting agent for safekeeping should not berenamed or disguised as an introducer’s fee, commission or other brokerage fee.

•
Unless expressed otherwise in writing,deposits made by consumers that are held by aletting agentare to be held in a client account for the duration of the rental agreement.

•
Where a consumer who has paid a deposit for a rental agreement prior to signing the contract decides not to proceed with the rental, the deposit should be returned to the consumer in full unless it was expressly agreed that all or part of thedeposit would be retainedunder such circumstances. 

•
Should the contract between the letting agent and landlord terminate, any change of arrangements shall be communicated to the tenant as soon as possible, but in any event prior to the contract exterminating,and the communication shall set out whereand by who it is proposed that the rental deposit will be held.

End of Tenancy – Tenants’ rights

As set out in the OFT’s Code of Conduct for Real Estate Agents: 

•
Towards the end of a tenancy, the letting agent should inform tenants of the steps they are to take to prepare the property for the final checkout, handover of keys and any other related matters. 

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Tenants should be actively informed of any specific clauses within the tenancy agreement relating to deductions from the rental deposit and to specified standards of cleaning etc.

•
Any necessary deductions from a rental deposit at the end of a tenancy agreement, must be reasonable and clear so it is simple to understand what portion of the deposit is allocated to the landlord for damages, replacement of items, cleaning etc.  Wherever possible this should be supported with detailed quotations and / or receipts.

•
Any part of therental deposit that is not in disputeshould be returned to the tenant and repaid within 10 working days from theconclusion of the tenancy.

Practical Tips and Recommendations for Tenants

The recommendations will reduce the possibility of issues recovering your rental deposit in the future.

•
At the start of a tenancy take the time to carefully check the condition of properties and its contents and report every defect identified in writing to the letting agent. 

•
Take photos of everything when you move in so you have proof of what condition the accommodation was in at the start of the tenancy agreement. 

•
Do a thorough inventory check when you move in and before you move out.

• Keep to the terms of the tenancy agreement.

•
Always communicate with the landlord and / or the lettingagent in writing.

•
Get written permission before you make any changes to the property.

•
Tell your landlord straight away if repairs are required.

•
Always pay your rent and associated bills on time.

• Get acquainted with your rights and obligations under the rental agreement. 

•
As a general rule the OFT does not recommend that you stop paying your rent as an offset to disputes arising with your landlord and/or letting agent.  If you think you may have cause for doing so,we recommend that you seek legal advice before taking this course of action.

Sample letter

If you have a dispute with a landlord and / or letting agent regarding the return of a rental deposit you can use thissample letterto write to them to demand that the rental deposit is returned.

Note that you should only write to the landlord and / or letting agent where they are withholding the rental deposit unjustly. There are occasions where they may have a right to retain the deposit, e.g. where you have caused damage to a property or its contents. 

Code of Conduct for Real Estate Agents

You canaccess the OFT’s Code of Conduct for Real Estate Agentson our website:https://www.oft.gov.gi/images/documents/REA_code_of_conduct.pdf

Contact us

We hope the above is of assistance. If you have any queries orhave encountered any problems, please contact the OFT’s Consumer Protection Team:

Email: consumer.protection@gibraltar.gov.gi

Tel: 20071700

Web: www.oft.gov.gi

Facebooks: OFT Gibraltar / Instagram & Twitter:  @OFTgib

The above information provided is for guidance purposes only and shouldnot therefore be relied upon as legal advice.

The seasonal shift into spring is symbolic of rebirth and renewal, and for many of us, it is a hugely beneficial time to check in, plant new intentions, and nurture their growth.

If you are unsure where to start, how about tomorrow morning? We all know how much a grounding routine can set the tone for your day.

Put simply, a morning routine is a sequence of actions that are regularly followed to make your life easier, less stressful, and more productive. The morning routines of successful people are followed daily so much so that, eventually, these practices become the new normal and are implemented without being noticed.

WAKE UP EARLIER

While sleeping in is amazing, early mornings are extremely underrated. An intentional early wake-up call can help you feel less stressed and rushed in the morning. Whether it’s 15 minutes or 1 hr before your normal wake-up time, this extra time in the morning can give you space to fill your routine with enjoyable activities.

This can give you time to start a habit from meditation to a hot shower to making breakfast, all of these activities start with having more time to do so.

Pro-tip: Try your hardest not to hit the snooze button on your alarm clock! When you sleep that 5 extra minutes, it may be doing more harm than good — making you feel groggier than before.

SET AN INTENTION

Getting in the right mindset first thing in the morning can guide your entire day. This can be as simple as making small goals for yourself. For example, attempting to get outside today or cherish the small moments of your day more than usual. Setting these thoughts and intentions is more powerful than you may think.

DO SOMETHING YOU LOVE

Journaling, reading, exercising — even though we love some activities or hobbies they can easily fall to the bottom of our priority list. With a busy daily schedule, it can feel the days fly by. After a day full of work or other activities, our energy level can be too low to do anything else but lay on the couch. Time management can be hard so it often feels there are not enough hours in the day. 

Getting up and starting your day with something you love can help reel your hobby back to the top of your priority list. 

EAT BREAKFAST

Many of us are in the habit of running out the door with little to no food in our bodies. As much as many love a can of energy drink to kick off the day, it cannot sustain us. As cliche as it sounds breakfast is the most important meal of the day. Any healthy morning routine must include breakfast. 

Listen to your body. If you are hungry whip up the classic scrambled egg and toast, perhaps with avocado or smoked salmon. If you usually skip breakfast, try to eat something light like a smoothie, green juice, or yogurt. You do not want to run on an empty stomach.

GET MOVING

Exercise is the perfect way to release some steam, plus it releases endorphins too – it is a win-win situation. Customise your workout to something you actually enjoy doing and what you have time for. Whether it’s a bike ride, a yoga class, or a 20-minute walk around the neighbourhood, starting off the day healthier will carry over to the rest of your day. 

TAKE TIME TO REFLECT AND EVALUATE

Life is full of change, and we thrive on those changes. Change can be scary, but without change, we are not able to grow and push ourselves out of our personal bubbles. So take some time to reflect on your current life, on your routine. How is it helping to improve your life? If it isn’t, what about it is hindering your life?

Evaluating your routines can help you find what is working and what isn’t. Discovering where the areas of complacency are in your daily routine allows you to fix them to help make important changes. Sometimes our routines become stale because they are no longer pushing us in the direction we want to go. They are holding us back, which is dampening our creativity, preventing our new inspirations to flourish.

Make sure to take time to evaluate your current daily routine, your current goals, and whether these routines are adding to the output in your life. Or if they are hindering you from accomplishing what you want to.

BE KIND TO YOURSELF

Don’t stress about the small things. Let yourself take breaks when you need to and don’t worry about always being ‘on’. Many people want to work until they physically cannot work anymore. It is inbuilt. It is perfectly fine to step away from the computer, turn off social media, and just be. We cannot successfully work if you don’t take the time to replenish ourselves, take stock and rest.

Our daily routines are always fluctuating, as they should. You are a multifaceted human being, constantly changing and viewing the world in a new perspective every day. Do not worry about time or running out of it. As long as you are happy and feeling fulfilled, it’s always time well spent. Sometimes, you just have to remind yourself that just being you in your stillness is fine.

A positive way to do this is through daily affirmations. Make a list of things you love about yourself everyday. It is not narcissistic, simply an appreciation of who we are and what we can contribute to others, the world around us and importantly, ourselves.

However you achieve it, sometimes the smallest tweaks in our morning routine can reward us with positive daily outcomes.

Aiming for the top, being the best, striving for perfection. Wanting to achieve at the highest level is surely a goal we should all aim for?  Well, not necessarily.

It is, of course, positive to want to achieve at the highest level we can but the problems may begin when we give ourselves unrealistic goals.

Always wanting to reach the highest point can make us anxious and unfairly, disappointed with ourselves.

We are surrounded by so many images of perfection and high achieving – no wonder we feel compelled to match their dizzying heights.  When did the word average become a description for less-than or not good enough? If we genuinely feel something is good or positive for us, why is it downgraded to average in other peoples eyes? It is incredibly easy to believe that a middle ground of anything is not desirable – we are often led to think that only the highest level is palatable.

The truth is we are all pretty average at most areas of our lives. We all have our own strengths and weaknesses. But the fact is, most of us are pretty average at most things we do. Even if you’re truly exceptional at one thing — say math, or jump rope, or making money off the black gun market — chances are you’re pretty average or below average at most other things. That’s just the nature of life. To become truly great at something, you have to dedicate time and energy to it and because we all have limited time and energy, few of us ever become truly exceptional at more than one thing, if anything at all.

It’s good to be aware that success looks different for everyone. And to be aware of nepotism, classism, ageism, racism and misogyny in the workplace that presents obstacles for some of us. To succeed in our careers we need grit and determination, yup, but also a tremendous amount of luck. 

Cutting ourselves some slack is not lazy, it is being realistic and kind to ourselves. It is about not stressing why you still have not secured that promotion, larger house or romantic success. It is all good, it is absolutely fine. We are all doing our best, within financial means and emotional state of mind. Some self care is definitely what is needed when we are being critical about ourselves and our choices. 

Aiming for middling runs counter to how most of us function in our winner-takes -all society. Who wants to be average? We want above-average results in all areas of our lives: careers, relationships, children, even regarding airplane seats and hotel rooms. We are always jockeying to improve our position relative to others. Despite a few pockets of low self-esteem, we generally think of ourselves as above-average in most areas of life. A simple example is a well-known study showed that most people consider themselves to be above-average drivers, clearly, that is statistically impossible.

There are only a finite number of top spots in every area of work and life – that is a fact. How can we all possibly fit into those at the same time? It is not as if opportunities only lie at the top. In fact, I believe there are plenty more opportunities in the average zone. That is where growth, learning and acceptance exist. Why not take advantage? 

Remember to feel fulfilled and avoid those feelings of being average. it is about more than just liking or being good at something. The secret to a joyous and impactful life is finding something that lies at the intersection of three things: what you are good at, what you enjoy doing, and what the world values.

Finding that will take trial and error, so do not be afraid to try out many different passions. What you end up loving and feeling great at might be very far away from the expectations you have always had for yourself. Experiment intentionally with different things until you find that magic combination of ability, interest, and value.

How to help you aim for average:

• Set your own limits – Remember that you can choose what time, effort and energy you give to everything you do – and sometimes doing less, means that you can give more to things that are more important to you.

• Keep a gratitude diary.  Focus on what you have, not what you lack.  Write down 3 things each day that you are grateful for.   This moves us from a focus on striving to a focus on thriving. 

• Keep an ‘I did it list’.  Appreciate the progress – however small – you have made at the end of each day.  This is a great way of giving you a real feeling of satisfaction.  You did enough – well done!

• Fall in love with stopping.  Like an artist painting a picture, it can be easy to over paint and never stop – always in search of that final touch.  But there’s nothing quite like putting the metaphorical brush down and saying ‘that’s good enough’. Savour the moment when you stop. 

Enjoy being an average without a pang of guilt. You may never know, there is someone who would give anything to be in your shoes. People genuinely will not remember any particular success story of yours for long. However, they will always remember how you made them feel. Start each day afresh and have the confidence to live your life at your own pace.

So divert your eyes from the top, explore different opportunities and find contentment in the middle ground. As challenging as it is not to look at others lifestyles, financial situation – or even likes on social media – it is empowering for us to be ourselves and believe in ourselves. 

Christmas dinner. The mere mention of it conjures up plates of steaming, delicious food, chilled glasses of fizz and merriment from all those sitting around the family table.

Christmas dinner.  The mere mention of it conjures up plates of steaming, delicious food, chilled glasses of fizz and merriment from all those sitting around the family table.

However, is it really so strange to assume that other families may have a tradition of going out for Christmas dinner? Truth is, every family will have their own routine on December 25th and deciding on a way to suit everybody is never an easy task.

Christmas is around the corner and we will soon be heading out with our families and friends for a festive meal.

Restaurants know that December means increased business, but there are also significant downsides to this which on occasions might outweigh the benefits.

Let us consider the pros and cons of eating out v staying at home:

Let us consider the pros and cons of eating out vs staying at home:

The Pros:

No cooking or cleaning up

I can hear a collective cheer from all of you. No washing up, no cleaning, no stress.

This is definitely one of the main pros of dining out at Christmas. It is especially great if you have a large group as there will be far fewer dishes for you to do afterward.

Superior Food

This is especially true if you go to a restaurant that is known for its good food. The chef has had more time to prepare and will know your taste preferences better than you would yourself.

Try new dishes

Restaurants often have special Christmas menus which include festive favourites as well as some more unusual dishes. If you are feeling adventurous, this could be a great way to expand your culinary horizons.

Celebrate with other families

This could be a pro or a con. However, if you are someone that likes to socialise and spend time with others, then this could be a big bonus.

Not only will you get to meet new people, but you also get to share in the Christmas spirit with them.

The Cons:

It can be expensive

Now you don’t need me to tell you that dining out at Christmas time is likely to be an expensive affair, so you need to work out if this is really worth it or not.

Of course, the joy of going to a restaurant is that somebody else does all the cooking and cleaning up afterward. But I think we can agree that you probably don’t want your family and friends to do too much for you at Christmas time, so maybe you should just put in some extra hours in the kitchen yourself.

Restaurant temptations

It’s all too easy to be seduced by the delicious aromas coming from the kitchen when you’re eating out.

If you’re trying to stick to a diet or avoid certain foods, this can be quite difficult.

Less personal attention as you would if you were cooking at home

This is especially true if you go to a large restaurant. The chef and staff will have their hands full and may not be able to give you the level of attention that you would receive if you cooked at home.

You miss out on cooking and eating together

This is one of the main reasons why many people choose to cook their Christmas meal at home. It is more intimate and cozy than eating in a restaurant, and you can avoid temptation if you’re not constantly surrounded by it.

Less control over what you eat

Restaurants often serve large portions, which can be difficult to resist. If you are trying to watch your weight or eat healthily, dining out may not be the best option.

Disturbed by other parties

When you are dining at home, the only people you have to put up with are those who are present in your house.

When you go out to a restaurant there can be a lot of noise and commotion from other tables if the place is full. This can be very distracting.

This could be the major stumbling block to enjoying a Christmas dinner out. It all depends on how well you can hear yourself think as to whether it’s worth the risk or not.

The wait might be too long

Depending on how finely tuned the restaurant is a service, you may have to wait a while for your food. This is especially true if you go to a popular restaurant around Christmas time. You may have to wait for a table, order, receive your food, and then eat it – all within a two-hour window.

If unorganised, you might miss your reserved table

This is another potential pitfall of dining out at Christmas. If you’re not careful, you might find yourself rushing to make your reservation on time.

Of course, several different things can happen at this time of the year so it’s not always possible to plan ahead. If you are  an organised person, this could be a bit of a headache.

Finally, remember that Christmas is a time to relax and enjoy yourself – so don’t worry if things don’t go according to plan. Simply have a laugh and order another drink. 

So there you have it – some pros and cons to help you make your decision on whether or not to dine out at Christmas. Hopefully the above will give you a good starting point.

Overall, both staying in or going out for your Christmas meal have their pros and cons. In reality, it all comes down to what you feel happiest doing. Whereas one person may thrive on cooking for a group of 15, another person may have the fear of being stuck indoors all day with family members. The choice really is yours to take.

Enjoy a delicious Christmas!

It is Christmas music season, that (most wonderful) time of the year when, no matter what the prevailing style in pop music is the other 11 months, we are thrown into a sort of musical time warp where we indulge in listening to music from all eras.

The truth is if the Christmas standards seem a little old-fashioned now, many of them seemed somewhat old-fashioned even at the time. One of the odd things about the Christmas canon is how it insists there’s only one real Christmas: a rural, snow-filled Christmas. 

Christmas song writers are determined to steep us all in that winning combination of snow, nostalgia, twinkling lights and omnipresent good cheer.

Perhaps the most famous Christmas pop song of all is White Christmas, whose introductory verse makes it clear that if you live in a place with no snow, you’re not really experiencing the season at all.

Within the broad genre of Christmas music, there are a few more specific categories: the bangers, like “All I Want For Christmas Is You”; the classics, like “White Christmas”; and the ones that make you sad and happy at the same time, like “Have Yourself A Merry Little Christmas,” “I’ll Be Home For Christmas,” and “Blue Christmas.” And while there really is nothing like a Christmas jig, those nostalgic, lump-in-your-throat, sentimental songs are often the ones we have on repeat throughout December.

At such a magical time, why are we drawn to stirring, seasonal music that makes us both happy and sad? Turns out, there are a few possible psychological explanations.

Music has a strong tie to nostalgia which is why hearing a song from the ’90s can take someone directly back to elementary school, and why listening to certain Christmas songs can make people feel warm, fuzzy, and return us to childhood. In a 1999 study, researchers examined people’s ability to recall memories after hearing a clip from a song. While they weren’t able to think of an exact event from the time when the song came out, they were able to recall the general emotion that they felt during that time. So, listening to some Christmas tracks might make you feel wistful for your childhood or just generally festive and happy, rather than remorseful about that Christmas when you broke up from your partner – your brain has already created positive associations with the music.

There is no doubt that nostalgia is an intriguing sensation because it can make you feel happy and sad at the same time. Interestingly, other studies have shown that listening to melancholic music can evoke feelings of comfort. This could explain why some people decide to listen to more emotionally raw songs they need a pick-me-up or to feel comforted. With Christmas music, in particular, the sad nostalgic emotions that you feel when listening to certain songs could, in theory, have the same positive effect as sad music.

Christmas music is also often structured in a way that makes it innately pleasing. When you hear a song for the first time, its melody gets tracked in your brain’s prefrontal cortex. Your brain is then always searching for that melody, or a similar one, and when you hear it again it feels very satisfying and soothing.

Compared to other genres of music, Christmas music and pop tend to have very predictable melodic structures. Hearing something you are musically familiar with automatically provides you with strong expectations. You are making predictions, having this moment of tension and then realising the prediction was correct. When you combine this aspect with nostalgia, it is obvious why Christmas music makes you feel such a diverse range of emotions.

Of course Christmas carols hold a particularly special place in many peoples hearts. We sing Christmas carols because they are a way of telling the story of the nativity and the birth of Jesus Christ. As well as explaining what happened around Jesus’s birth, the songs enable us to encapsulate and express the joy, devotion and awe-inspiring scenes of the nativity.

Apart from telling the nativity story, Christmas carols spread joy and warmth during the bleakest months. In Christmas, the Christian faith brought together traditional winter feasts and celebrations. They were designed to spread light in the dark, deep midwinter months, and the celebrations of Jesus’s birth. Christmas carols have an appropriately uplifting and celebratory style to honour such a memorable occasion.

Little wonder they have endured as a popular way to highlight and celebrate the arrival of the Christmas season. 

Christmas carols, almost always have wonderfully memorable melodies and captivating harmonies. Performed by choirs of voices, often with an organ or instrumentalists accompanying them, the songs create a wonderful atmosphere and resound with positivity.

So, is Christmas music good, or do radio presenters deserve coal in their stockings? It is a truly individual answer. For the eternal romantics and fans of nostalgia the so-called songs of the season are joyous audible additions to our Christmas preparations whereas the Ebenezer’s of the world sneak earplugs under their earmuffs. 

Like most things, it’s all a matter of perspective. It is important to remember that no matter how you feel about the holiday classics, the world is a fragile place these days and so are we. If a particular song or carol provides us with a warm glow, simply enjoy it.

The ultimate joy about Christmas music is we can all enjoy our diverse tastes and personal melodic preferences, as well as everything else Christmas related. Like all aspects of the season, it is our varying tastes that make it such a unique experience.

So, for Christmas songs fans – that is all of us, surely – remember that Christmas music: 

• Improves Mood – Christmas music lets us relive the best moments from holidays past – anytime we want.
• Relieves Stress – Christmas music takes us on a vacation from our troubles and helps lower stress.
• Increases Relaxation – Christmas music
  literally soothes our brains.