Owning a home in Gibraltar should provide security and stability, yet many homeowners like myself find themselves trapped. We have invested in our properties, but when our lease term drops to under 50 years, we face an insurmountable obstacle: the inability to sell. Lenders won't consider financing homes with such short leases, leaving us stranded with properties that cannot be sold or improve financial liquidity.

This issue isn’t just about one or two homeowners; it’s a broader problem affecting many across Gibraltar. Imagine working hard to create a comfortable home, only to find that your investment's worth is depreciating simply because of restrictive lease terms. This affects not only personal financial health but also the larger real estate market, stifling growth and innovation.

Statistics show that a significant portion of Gibraltar’s housing is under lease agreements. As lease durations decrease, the market's fluidity is compromised, with fewer sales, less movement, and restricted access to property ownership for new buyers. An inflexible lease system discourages investment and can lead to a decline in property values across the board.

We need a change and that change needs to occur now. We are calling on policymakers and stakeholders in the real estate industry in Gibraltar to reform leasehold laws. By adopting guidelines that support extensions or conversions to freehold where feasible, we can liberate current homeowners and revitalize the property market. This will not only help those of us caught in this lease trap but also ensure a healthier economic environment for all of Gibraltar.

Help us make a difference and break free from this cycle. Please sign this petition to urge the legislative body in Gibraltar to take action and stop the lease trap. Let us pave the way for a fairer and more equitable real estate market for everyone.