Due to its restricted land mass Gibraltar property is highly sought after. Gibraltar is a United Kingdom Overseas Territory situated at the southern tip of the Iberian peninsula and overlooking the western entrance to the Mediterranean Sea. It is two and a half square miles in area and has a resident population of approximately 28,000 people. The Rock is self-governing with regard to ‘Defined Domestic Matters’. These include most areas with the exception of foreign affairs, internal security and defence.