Bermuda homes, condominiums, apartments and fractional units for sale or rent

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Bermuda homes, condominiums, apartments and fractional units for sale or rent

Types, costs, taxes, affecting citizens and non-Bermudians

To refer by email to this webfile, please use "bermuda-online.org/homes" as your Subject

Introduction

Population density shows in closeness of housing

2011 Year-end report. At least $35 million worth of luxury homes for the internationally affluent (not homes available only to Bermudians, see below, where the market has been poor, in comparison) have sold in Bermuda in just the first six months of the year. And $40 million more worth of high-end real estate - properties with Annual Rentable Values (ARVs) exceeding $153,000 - wS reported to be under contract. Realtors have noted more multi-million-dollar properties have sold in Bermuda so far this year than all of last year and all of 2009. The sales represent millions of dollars worth of annual revenue to the Government, given the now 25 percent cost of a licence for a foreigner to acquire a home in Bermuda, plus the one to three percent stamp duty, legal fees and land taxes due. It was anticipated that that 2011 year end results would culminate in a total sales volume which equate to the peaks of best years 1998, 2005 and 2008 with approximately 75 percent of the homes being purchased by non-Bermudians. The increase in sales is primarily attributed to improved confidence in overseas markets with the majority of buyers in this segment originating from outside of Bermuda at this time. Generally, international buyers may only buy property currently owned by a non-Bermudian except in a development designated under the Bermuda Immigration and Protection Amendment (no. 2) Act 2010 as tourist accommodation and hotel residences. The cost of a Licence to Acquire varies depending on the type of property. For example, international buyers pay 18 percent of the purchase price of a condominium; 25 percent of the purchase price of a house; and 6.5 percent of the purchase price of a tourist property. To be eligible for purchase by an international buyer, a private property’s annual rental value (ARV) must exceed a designated amount ($32,400 for a condominium, $153,000 for a house).

Buying a single-family home or condominium or fractional unit in Bermuda, with its only 13,000 acres in total and an average of 3,400 people per square mile in the most affluent country in the world, is far more costly for Europeans than buying one in, say, the USA (where, in 2010, according to the National Association of Realtors, the median price fell to $166,100) or Canada, Spain or the Canary Islands or Italy, France or Greece or anywhere in the Caribbean. Only in Bermuda are there so many restrictions and exclusions. In contrast, in all the other tax havens - such as the Bahamas, Cayman Islands, etc - and international business centers, there are no such restrictions. Also, the cost of living is far higher than in any of these places. Nothing is cheap in Bermuda; not fuel (petrol, gas); not electricity; not automobiles or other transport; not property taxes; not alcohol, not anything. But for those who can afford it, the rewards can be many. Bermuda is in a mid Atlantic setting of green foliage, pink coral beaches and golf courses, less than two hours away by air from North America and seven from Europe.

There are no regulations limiting non-Bermudians who retire or work here and what type of property they may lease or rent, but there are very strict regulations and complex rules in the purchase by them and/or sale to them of real estate. What this means is that there are two categories of both commercial and residential real estate in Bermuda. One is real estate that is available only to Bermudians. Only Bermudians (see "Citizenship") may own any type of property. The other is real estate that is available to international or Bermuda-based but non-Bermudian buyers as well as Bermudians.

Non-Bermudians, also referred to as restricted persons - some Bermuda realtors refer to them as international buyers - include newcomers or those yet to arrive to seek employment and/or a property to buy and long-term resident Permanent Residents limited by a number of provisos to the most expensive properties in both price and taxes. They must first apply to the Minister of Labour, Home Affairs and Public Safety for a "License to Acquire" a property; and must, upon approval of the License, pay the same fees as other non-Bermudian applicants - viz. 25% of the purchase price (equivalent to $2.5 million on a $10 million property) of a freehold property and 18% of the purchase price of a town house or condominium. They cannot subdivide the property. They cannot purchase property with multiple Annual Rentable Values (ARVs). They cannot rent the property without official Bermuda Government Ministerial consent.

If non-Bermudians/restricted persons are given permission to buy it will be for one property only, a specified unit eligible to be held or bought by non-Bermudians. It is either a substantially higher-priced single family dwelling or a condominium priced for non-Bermudians as well as Bermudians. They may select only Bermuda's 200 or so most expensive single family properties - luxury homes with an Annual Rentable Value (ARV, see below) of US$153,000 a year or more - from among the more than 20,000 residences, or from an expensive condominium - with an ARV of US$32,500 or more (Bermuda Immigration and Protection (Designation of Eligible Condominium Units) Regulations 2007).

The average purchase price for a single family 2-3 bedroom detached dwelling house for non-Bermudians is over US$2.8 million.

Generally, non-Bermudians/restricted persons may only buy property currently owned by a non-Bermudian except in a development designated under the Bermuda Immigration and Protection Amendment (No.2) Act 2010 as tourist accommodation and hotel residences. Prospective international buyers must submit an application along with a consideration fee (refunded if the license to own property is granted). The cost of a License to Acquire varies depending on the type of property you wish to purchase. For instance, international buyers pay 18 percent of the purchase price of a condominium; 25 percent of the purchase price of a house; and 6.5% of the purchase price of a tourist property as designated above. To be eligible for purchase by an international buyer, a private property's annual rental value (ARV) must exceed a designated amount ($32,400 for a condominium, $153,000 for a house). Agreement in principle between an international buyer and seller includes a deposit of 10 percent of the purchase price. The deposit is held in escrow, subject to contract, and deducted from the overall purchase price. International/non-Bermudian buyers may not buy investment property such as land, commercial real estate or property intended mainly to earn rental income. International/non-Bermudian owners may be granted permission to rent their property by the Immigration Department. Permission rarely extends to periods of more than a year and includes a tax of 7.25 percent.

Plus, there are heavy Bermuda Government stamp duty charged on sale or re-sale of all homes owned by Bermudians and non-Bermudians; legal fees involved; and recurring real estate or property taxes, referred to as Land Taxes. By American and Canadian standards, Land Taxes, paid on homes and condominiums twice a year, are very high. They compare in cost to Council Taxes in the UK.

These restrictions can make Leasing Property a preferable option for non-Bermudians who wish to live in Bermuda.

However, for non-Bermudians, instead of freehold buying a Bermuda property such as a house on land or a condominium, a practical solution for some may be to purchase a fractional unit, of which there is now a wide variety. The fee for the first-time sale of such a unit is 10 per cent. The fee for sale of a fractional unit is 18 per cent on the second disposition of such units. For hotel residences condos or hotel units with individual land valuation assessment numbers if they are placed on the hotel inventory it will cost 18 percent, or 25 percent if the property is kept for private use.

Non-Bermudians are advised not to seek to evade these laws by "fronting" via local or overseas law firm or attorney or Bermudian living in Bermuda or abroad or any other kind of fronting. If they ignore this advice the property will be forfeited to the Bermuda Government.

Thus it can be hugely important to have a knowledgeable Bermudian real estate professional help navigate the process.

For non-Bermudians/restricted persons, once a property has been selected, an application for a license to purchase is made to the Bermuda Government's Ministry of Home Affairs and Public Safety. Your realtor will assist in this. An "Acquisition of Land" advertisement issued in the Official Gazette of Bermuda will say that "Notice is hereby given that (the full name of the applicant), a citizen of (whichever applies) is applying to the Minister of Labour, Home Affairs and Public Safety for sanction to acquire a leasehold interest in or the freehold of a particular property (by name, acreage if relevant, unit number and Parish) - and if relevant, in joint tenancy with a Bermudian parent or sibling or spouse.

While there are a number of realtors (estate agents in UK) in Bermuda, there is not yet any central on-line accessible register of who they are or what services they perform or what sales they have achieved. Nor is there any national website showing all properties for sale or rent at any one particular time. There is a need for all Bermuda realtors to establish a Bermuda Multiple Listing Service. This has long been common in the USA, Canada, UK, Europe and beyond.

Best places to retire overseas

Unfortunately, it isn't. Nevertheless, as the nearest foreign non-mainland place to the USA and Canada, it can offer distinct advantages to affluent Americans, Britons, Canadians, Europeans and others.

For a list of Bermuda Real Estate Agents/Realtors see under the latter section in Bermuda Employers

Land Evaluation and Land Taxes (real estate or property taxes)

Land Taxes are a property tax charged on all developed land throughout Bermuda with some minor exceptions. The expression "land" is used in its broadest sense to include land, buildings and structures attached to land. Undeveloped land is not liable to tax, though developed land that is merely unoccupied is still liable.

Each piece of property that is liable to tax is known as a "valuation unit" and details describing it and its assessed annual rental value (ARV) are entered in the Valuation List. This List is prepared and maintained by the Land Valuation Officer under the authority of the Land Valuation and Tax Act 1967 as amended.

A printed copy of the Valuation List is available for public inspection at the Land Valuation Department. Note that The Land Valuation Department just deals with the property and its assessment. The taxpayer, tax payable, billing, pensioner relief (exemption of Land Tax for qualified Bermudians who both own and occupy the property) etc. are the responsibility of the Tax Commissioner’s Office.

For example, a house owned by a Bermudian family, with an Assessment Number (see below) of 071022015, with an ARV of $46,800 has a 2011 annual tax of $1,258.80.

Bermudians and other residents pay these taxes because, as in most communities worldwide. it has proved beneficial for certain services to be provided by a central body rather than by private individuals either for themselves or for others. The obvious examples of these services are defence, health, education, the emergency services (ambulance, fire and police), public highways, public parks and garbage disposal. To maintain these services finances must be made available and for such community-wide services the best method is usually one that involves some community-wide charge or tax.

Land taxes, or property taxes elsewhere, are some of the most simple, effective, open and cheapest taxes to administer and collect. In addition, revenues from land taxes are both stable and predictable unlike say import duties or an income tax which can fluctuate widely from year to year. Land taxes are also difficult to evade because the liability attaches to the property itself in the final resort. Property taxes also reflect, in general, some "ability to pay" in so far as people with more resources tend to live in higher value properties and this aspect is further enhanced by Bermuda's progressive land tax structure. Finally, it is fair to say that community-wide benefits tend to impact to a significant degree on property values so that each taxpayer does receive some benefit from the payment of taxes that go to improve the quality of life and the environment in the community.

The "owner" of a valuation unit is liable for all land tax charges. This "owner" is usually the freeholder but can also include a life-tenant, a leaseholder for three years or more and even a periodic (yearly or monthly) tenant in the case of properties owned by the Government, WEDCO or BLDC. The Land Tax Officer can advise you more fully if you are in doubt about your liability.

Some residential properties and many commercial properties are let on leases for three years or more making the tenant the "owner" for land tax purposes regardless of any provision in the lease concerning taxes. However, most of these latter provisions usually require the tenant to either pay these taxes or to reimburse the landlord if he has to pay them in addition to the basic rent for the property.

As the liability for land tax attaches to the property itself in the event that any "owner" defaults on payment, it is important for landlords and/or prospective purchasers to always ensure that all land taxes have been paid.

Bermuda's Land Valuation and Tax Act 1967 requires all properties on the Island be revalued every five years. The 2009 draft valuation list was published in late 2009. The last revaluation before that was carried out in December 2004. The government states all properties are revalued at the same time to maintain fairness in the Valuation List. Property values change over time with some property types and areas going up in value while others in some cases may go down. The revaluation re-levels the playing field by reflecting these relative changes in value. See the Land Valuation website www.landvaluation.bm. This Land Tax in Bermuda is payable to the Bermuda Government by all Bermudian and non-Bermudian property owners. It is based upon the Assessed Rental Value (ARV) for each private dwelling (apartments, condominiums and single-family detached homes) and commercial buildings with the ARV determined by the Bermuda Government's Land Valuation Officer. Amended - higher - Land Taxes apply from 2009. Your real estate agent will tell you how much land tax applies to a particular property of interest to you. Note that Bermudian home owners over 65 qualify for exemption or a rebate (a) when the property is registered in their own names, not in the name(s) of their child(ren) and, since early 2012 (b) if the ARV is less than $50,000 (Until 2012 all Bermudian homes owned by senior citizens were eligible, irrespective of ARV). Contact the Land Tax Officer for an application form if you consider that you are eligible for this relief.

Note also that land taxes - property taxes in North America, Council Taxes in the UK - paid by homeowners in Bermuda do not include access to a municipal or local water supply or sewage disposal.

In Bermuda, land taxes do not change when a property changes hands, unlike in the UK where Council Taxes - the equivalent of Bermuda land taxes - may do, unfairly to newcomers. Also, in Bermuda and in most other jurisdictions too other than the UK - land/property taxes change by law uniformly in a stipulated number of years (in Bermuda, every 5 years, with the previous one done in 2004) in a much fairer system for all than in the UK. Whereas in the UK, while newcomers pay higher property taxes, residents who have been there far longer pay their Council taxes based on valuations last made in the early 1990s.

The Bermuda Government's Land Valuation Officer is now referred to as the Director of Land Valuation, under the Land Valuation (Reorganization) Bill 2002.

Land Evaluation Appeals Tribunal. Those who complain about their taxes can try complaining to this Bermuda Government body, appointed under the Land Valuation & Tax Act 1967 and shown in alphabetical order in Bermuda Government Boards.

Who pays Land Tax? Usually, the Land Tax on Private Dwellings on rented properties is paid by landlords, not tenants. But it is not uncommon for many local landlords to include the Land Tax in the sum they ask for rentals.

Assessment Numbers of houses and apartments and their impact on parking of motor vehicles

Each single family home and/or apartment has a 9-digit number, after the owner has received a Certificate of Use and Occupancy Permit (Completion Certificate). The owner of each valuation unit - a self-contained (with its own entrance, electricity meters, permit to own a car, etc) apartment or unit in the same building and/or any other building - will also have a (separate) number. Each 9-digit number is unique, no two are the same. The digits are, in this order, Parish number (2 digits); sequential number (4 digits); Split Digit (1 digit); Re-use Digit (1 digit); Check Digit (1 digit).

Persons who do not own but rent apartments in someone's house should always be given and make a point of knowing the separate assessment number of the apartment. This is for their own protection. If it does not have its own assessment number, the person or persons renting will not be able to own a car or have a separate electricity account and may also encounter further difficulties. For example, when the owner or owners of apartments who have not bothered to arrange to have their apartments given their own assessment number, but allow their tenant or tenants to have a car anyway, both they and their tenants are breaking the law and can be prosecuted, also with the likelihood that the car will be impounded or have to be sold. All responsible home owners, owners of apartments and real estate agents know this. There are also other potential problems. For example, when an adjacent or neighboring house - which may or may not be owned by a relative or friend - is used, with permission of the homeowner, for parking of any car used illegally or moped or scooter or all of them, that person too becomes contingently liable, plus also liable themselves or via their insurance companies for any damage caused by any means whatsoever to the car or moped or scooter while parked on the property. It is not right anyway for any tenant to have to park any vehicle in an adjacent or neighboring property because the owner of the property where the tenant is living does not have space in his or her own garage or driveway for the tenant's car and/or moped or scooter. Whenever a tenant parks regularly in any adjacent or neighboring property, he or she or they should always offer in writing to indemnify the property owner fully against all damage to the vehicle or vehicle or property caused by the vehicle or vehicles. Failure to so by a quality tenant could render withdrawal of parking permission or worse.

Uniquely in Bermuda, Land Taxes do not include Water or Waste Water/Sewage. Neither are piped in or out via a central system. Costs of water and disposal of waste water and sewage from cesspits is the separate responsibility of the home or condominium owner or tenant or both.

More than a third of families’ spending in Bermuda is now going on housing — nearly double that of the US. Statistics show 34 percent of household consumption went on housing — dwarfing the amount spent on education (4 percent), clothing (3 percent), healthcare (5 percent) and food and drink (14 percent). The corresponding figure for housing in America is just 18 percent.

That translates into a 30-year mortgage of more than $11,400 a month at current interest rates — assuming the buyer has paid out a five percent deposit of $80,000. While the escalating price of free-standing homes is moving them further out of the reach of middle-income Bermudians, realtors say locals are showing increasing interest in condominiums as a more affordable option for a home.

In many countries around the world - but not yet in Bermuda (although this will change later - good title to piece of real estate is determined by reference to a central land registry which records the owners of all land in a particular jurisdiction. Once an owner is registered, the land registry provides you with a certificate of title - or title deed - that describes the land owned in accordance with an accurate plan.

Each such document will attract a significant amount of Bermuda Government stamp duty.

Until April 1, 2000 - but no longer - a Bermudian spouse would have to buy a property first and then voluntarily convey it into the joint names of the Bermudian and non-Bermudian spouse. (It resulted in the payment of additional legal fees and stamp duty on the value of the 50 percent share of the property). But currently, any non-Bermudian acquiring a property with a Bermudian spouse will pay a license fee exceeding US$1,200. The format of the application for a non-Bermudian alone or one married to and living with a Bermudian is set out in law, so a lawyer is advised. It requires all involved as new purchasers to provide a current marriage certificate, two references and a separate bank reference.

Bermudian Buyers who have a non-Bermudian spouse need a license

Bermudians married or living with foreigners, and/or whose parents is/are non-Bermudian, must get a licence for homes they own and which their partners financially contribute to or benefit from. Locals must have obtained a licence for such residential properties before June 22, 2010 or face prosecution under the Bermuda Immigration and Protection Amendment Act 2007. Those who fail to comply with the legislation designed to limit the number of non-Bermudians who own land here could end up with a five-year jail term and/or a fine of up to $1 million.

In 2011 the licence costs more than $1,375 and is needed for first homes, as well as additional properties obtained before June 22, 2007. Since that date, the legislation has prevented mixed-status couples from having more than one property. Even where a home is solely in the Bermudian partner's name, a licence is required if their partner gives financial assistance or benefits from the property. A foreign spouse who pays for household bills, such as electricity, cable or water, could be deemed to be giving financial assistance.

A letter about the licences was sent with land tax bills to homeowners in 2008. Bermuda banks have sent a standard letter to all mortgage holders reminding them of their obligations under the Act.

When a non-Bermudian contributes towards mortgage payments or benefits from rent received for a property, a constructive trust is created with their Bermudian partner. If a non-Bermudian spouse or partner provides financial assistance to their Bermudian spouse/ partner to purchase a property, then the non-Bermudian may be entitled to an equitable interest in the property. The Bermudian must then apply for a licence as a constructive trustee for the non-Bermudian's equitable interest.

If you answer 'yes' to any question from 2 to 7, it is likely you need a licence. If you answer 'no' to questions 2 to 7, you may not need a licence.

The Bermuda Environmental Sustainability Taskforce (BEST) believes Government is exhibiting double standards when it comes to foreigners owning property on the Island. There is an apparent contradiction between what the government says, as stated by Government Ministers, and what is actually practised, as in policies for foreign ownership of fractional housing units. While the Government is requiring some mixed-status couples, where one person is Bermudian and the other is a foreigner, to apply for a licence to own a property on the Island it is allowing foreigners to purchase fractional and leaseback tourism units. The rationale for this Amendment Act is contradicted by policies put forward by Government in the Bermuda Plan 2008 that both enables and sanctions taking land out of Bermudians' hands. A careful reading of the Bermuda Plan 2008 reveals that the Development Applications Board can approve commercial and tourism development on conservation-land zoned for Recreation, as well as on land zoned Residential 1, the most densely populated residential land in Bermuda. What many Bermudians may not realize is that tourism development includes fractional ownership units, a type of condominium that allows ownership-in-perpetuity by non-Bermudians who do not reside full-time in Bermuda, that is, ownership that need never revert to Bermudian hands. This appears to present a contradiction between what the Government is saying and what it is doing as far as retaining Bermuda land in Bermudian hands.

Buying and Operating a Bermudian home compared to in the USA

This applies only to Bermudians and means a home, irrespective of area, that is not in the top 5% of purchase price and land valuation and so may not be sold to any non-Bermudian, only to Bermudians. Some mid-priced Bermudian homes, like this desirable one off the South Road in Paget shown below, are in lovely areas and have nice sea views, close to the hospital and near the city of Hamilton.

Bermudian home. July 2009 Photo by author exclusively for Bermuda Online. Has "location, location, location."

Same Bermudian home showing Bermuda cedar work and sea views. July 2009 Photo by author exclusively for Bermuda Online

2011 Year-end Report. Prices in Bermuda tumbled in 2011 with many properties on the Island now taking as long as a year or more to sell. Condos in the under $32,400 ARV sector were the hardest to sell, with double digit drops in both price and volume sold in 2011. However, the luxury home market saw increases in the number of sales and average price. The under $153,000 ARV housing market suffered significantly in the economic downturn, representing less than half of the total property sales in 2010. The average price of a house under $153,000 ARV declined six percent from 2010 to just under $1.2 million in 2011. There was a 38 percent drop in sales volume in that sector, with 66 homes sold last year (the number could change as it is not final for the year yet). For condos, the news was worse. The average price fell to $473,000, a 16 percent decline in average price for 2011 versus 2010. Sales volume decreased 14 percent, to just 18 condos sold. The main factor for the decline in price and volume is without a doubt the economic climate. Also, there are clearly more conservative lending practices by the lending institutions - their criteria are more stringent than before. The bottom line was that in 2008, sales volume in the then booming housing market was almost $680 million, compared to $250 million in 2011. Realtors are not optimistic the Island would see any significant increase in price or volume this year and it could even go lower. The amount of time homes are sitting on the market has also grown significantly.

60 percent of the homes under $153,000 ARV in 2011 averaged 353 days on market, while 72 percent of the condos under $32,400 ARV in 2011 averaged 369 days on market. Figures for last year also showed rents for apartments and houses on the Island have come down by as much as 25 percent in the last five years. However, there is still actually demand for executive homes in the $12,000 to $15,000-and-higher range because of limited inventory.

Based upon April 2011 market rates the cost of building a home with traditional residential Bermuda construction is $290 per square foot. This excludes the cost of the land.

For Bermudians, the average price of a single family detached home is now over $1.2 million, of average size 0.25 acre. In comparison, in the USA in April 2011 the median price of an existing home is $195,300.

In August 2011 it was reported that the average price in Bermuda in 2008 for a modest 2 bedroom single family house without water views was $1.45 million. Compare this to the situation in the USA in August 2011 where in many places a lovely 3-4 bedroom 2 bathroom home can be had for $280,000. See http://realestate.yahoo.com/promo/best-cities-for-housing-values-2011.html.

In Bermuda, condominiums now have about 62% of the total 2011 housing market. The average price of a condo in August 2011 is now about $800,000. The standard Bermuda price now for real estate is now a standard $1.6 million an acre, for undeveloped or re-developed land, without a house or utilities.

Housing is on average at least four hundred percent more than in the USA, and Canada, 300% more than in the UK.

Compared to, in USA

In August 2011 in USA - alas, not in Bermuda - housing is the most affordable it has been in decades, according to analysts at Moody's Analytics. They don't just look at house prices. They also look at incomes. Nationally, there the cost of a house is the equivalent of about 19 months of total pay for an average family, the lowest level in 35 years. Prices usually average close to two years' pay, although that varies nationally. At the peak, midway through the last decade, a home in Los Angeles cost the equivalent of 4.5 years' pay. The average price has since fallen to just over two years' income now. That's well below its pre-bubble average of 2.6 years. This means average Los Angeles homes are cheaper in "real terms" than they were typically during the period 1989 through 2003. The opposite is true around the Washington beltway, where it will take 26 months of pay to buy a home, versus the historical norm of 22 months.

Local breakdown

Overall, only 51% of all Bermudians own their own homes - the lowest rate by far in all the developed countries.

	Under 30	30-39	40-49	50-64	65+	Total
Own house or condominium with mortgage	7.1%	19.5%	29.42%	27.41%	11.4%	21.1%
Own without mortgage	2.1%	5.6%	12.1%	31.1%	60%	22.8%
Rent	85.9%	71.0%	55.1%	37.9%	23.0%	51.9%
Rent free	4.8%	3.9%	3.4%	3.7%	5.5%	4.1%
Not stated	0.0%	0.1%	0.2%	0.2%	0.2%	0.1%

30-year mortgages are now available to qualified persons from the local banks at interest rates totaling about 9 percent per annum (7 percent plus finder's fee). Bermuda banks require a household to make in excess of $12,000 a month to meet average 30 year mortgage payments. Plus, they need a $250,000 down payment, as a bank will not lend more than 85% of the appraised value of the property. Thus a far greater number of Bermudians than non-Bermudians in other countries are not able to afford home ownership. The number of households that can afford to buy the average Bermuda property is 5,064 of the 19,505 households in Bermuda making over $108,000 a year.

The Bermuda Housing Corporation has built several thousand properties which it has sold to Bermudian families. The original idea was to provide subsidized housing to Bermuda's lower income families. But by international standards of subsidized housing costs, these are extremely expensive.

Administration of Estates Act 1974

The legislation when a Bermuda property owner dies, and the procedure, formalities, executor, executrix, objections, etc. See Executors or Bermuda Laws.

Appraisal fees

Local banks use independent appraisers to establish the value of a property for mortgage, valuation and other purposes. If done at the request of a bank for a mortgage on an average Bermuda home valued at $500,000 the fee will generally be from $300-$500.

Architecture, cess pits, sewage and water supply

See under Architecture. Architects in Bermuda must be registered under the Architects Registration Act 1969. In March 2004, more than 70 architects were registered.

Bermuda Immigration and Protection Amendment Act 2007

Provisions include clamping down on the practice of "fronting", where a Bermudian illegally fronts a trust to buy and hold land on behalf of non-Bermudians.

Bermuda Residential Building Code

Both a guide and specification document for contractors and home owners alike on all matters concerning traditional residential construction. Rigidly enforced, partially to ensure homes can withstand major storms. Individuals and entities wishing to bring new building products into Bermuda must first contact the Senior Building Inspector of the Department of Planning of the Bermuda Government to determine if the product meets local standards. Recently, innovative construction alternatives have included faux roof slate - imported - to replace or repair Bermuda slate and known as Dura Slate - steel frame dwellings and faux lumber (PVC) to replace or improve or with a better price than the local product.

Boundaries

If you are buying or selling a single family home, make sure the boundaries are staked and that the stakes can be identified. If they are not staked, a surveyor should be consulted to do so.

Burglaries

The Bermuda Police Service issues reminders to the public to be sure to lock their homes before they leave for any length of time. There are numerous reports of break-ins at homes after they are left unlocked. Police tell the public to secure all windows and doors before leaving to prevent being victims of burglary. Thieves needing to fuel their drug habits are some of the nastiest and often the most violent or destructive burglars.

Citizenship

See Bermuda Immigration and Protection Acts. Some non-Bermudian residents with unblemished continuous residence have been in Bermuda for periods exceeding 20 and 30 years yet have not been given citizenship. It means they are not not allowed to vote, or to register to vote, in any election after they become 18 years old, even when they have been model residents for years. Those in this category are mostly from the USA, Britain, Canada, Caribbean and Europe, but some are from Africa, Asia, Australia, New Zealand, Philippines and elsewhere. Without citizenship, persons also cannot buy any real estate as Bermudians can if they can afford it; are limited to the top 5 percent of property in assessed value and a particular kind and type of property only and must pay a substantial purchase tax on top of other taxes; cannot obtain any local scholarships from any organization; if of employable age are not allowed to take any employment but are limited to the kind of employment on a Work Permit approved by the Immigration authority of the Bermuda Government; and may not under any circumstances be an executor or executrix of any Bermudian-owned property not in the top 5% of Annual Rental Value. Their attorneys are required to tell them this and would-be executors are expected to know this. They should also check with the Bermuda Government to see if it is permitted or not for them to benefit in any way financially from any Bermudian-held estate. They may only be executors of Bermuda property which is presently in non-Bermudian hands and as such is in the top 5% in Annual Rental Value. Nor are they - or any other non-Bermudian - allowed to be sole owners of a business in the local marketplace. They are limited to a maximum 40% holding in shares and management and are prohibited from employing any ruse that will enable them to overcome this restriction.

Closing Costs

They include a Stamp Duty charged on a sliding scale. It is 2 ½ % of the first $100,000; 3% of the next $400,000; 4% of the next $500,000; 5% thereafter. It is is usually payable by the Vendor and the Purchaser in equal shares.

Property value	Stamp duty applicable
$700,000	$22,500
$800,000	$26,500
$900,000	$30,500
$1 million	$34,500
$1.5 million	$59,500
$2 million	$89,500
$3 million	$149,500

For non-Bermudians, the length of time will be determined by how long it takes the Department of Immigration to process an application for a License to Acquire Property. This can range from 6 weeks to nine months. Sales contracts usually specify that the closing take place within a set time from the date of the grant of the License. A License to Acquire Property is required for non-Bermudians wishing to buy a home in Bermuda. The government charges a fee of 22% of the price of a house (or 15% if you are buying a condo) for this license, if it is granted. The review process is designed to determine that you are financially independent and not an 'undesirable.' Personal and financial references are required and will involve some research. Your local lawyer will guide you.

Commercial real estate

Generally - with some major exceptions - this cannot be acquired by non Bermudians. They have to lease. However, they are welcomed as investors in leasehold new hotels of more than 50 beds, or as minority owners of real-estate holding companies.

Condominiums available to overseas nationals

In 2011 the Bermuda Government announced that more than 500 condominiums across the Island, including The Waterfront in town and Mizzentop in Warwick, can now be sold to non-Bermudians (restricted persons). Earlier, non-Bermudians could only buy condominiums with an ARV of $32,400 or higher. Government amended a section of the Bermuda Immigration and Protection Regulations Act and added 521 condominiums to the list of units that can be bought by expatriates. These amendments were made through a notice in the Official Gazette. Forty-three of the units are on former tourist properties. The Government notice stated the following condominium units are eligible to be held or acquired by restricted persons, namely non-Bermudians.

Note that married and cohabiting couples, where one partner is an expatriate, need to get a $1,375 licence. The rule also applied to home-owning Bermudians with a foreign parent who has put money into the property. Often people find the licence will cost appreciably more than the $1,375 as it involves getting assistance from lawyers. Government has stated the rule was designed to prevent fronting, the practice of non-Bermudians gaining an unlawful interest in land by using a local as a front.

Condo monthly fees must also be a consideration. In April 2011 they averaged $400 a month, on top of Land Tax.

Conveyance, re-conveyance

A conveyance deed is a document, with considerable stamp duties involved, that in Bermuda conveys legal title to the owner, if mortgage-free, or if with a mortgage, to the lender with whom the deed is lodged and with the mortgage recorded in the Book of Mortgages at the Registrar General's Office. When a mortgage is repaid, a re-conveyance deed certifies that the property is no longer encumbered, with the bank asking the owner for the name of his or her attorney. The re-conveyance makes it clear that the debt is repaid. The legal cost of a re-conveyance is less than the cost of a conveyance, with stamp duty payable by the owner based on the original mortgage loan amount. The attorney will also arrange for the mortgage to be marked as satisfied in the Registrar Genera's Office. Those who do not get a re-conveyance risk having major problems when they decide to sell.

Development potential

There are strict development guidelines and rules. Development & Planning changes must be publicized before approval or otherwise. Bermuda's Department of Planning ultimately determines what can and cannot be done by way of development. Guidelines and specifications are set out in written form. Permission is routinely denied for anything which falls within these specifications and with the right guidance may well be permitted to do certain projects which fall beyond that scope, if in the public interest to make such exceptions. Those considering any development should consult an architect experienced and successful in dealing with the Planning Department.

All additions, alterations, conversions, conversions, extensions, improvements, etc, must be made to the Bermuda Government's Department of Planning, 3rd Floor, Government Administration Building, 30 Parliament Street, Hamilton. The applied-for changes will be advertised in the Official Gazette by Parish with the full name and address of the applicant in each Parish and the changes sought, with a Plan Reference number. Any person wishing to object must do so within 14 days of the date of publication of the relevant notice. Objections must be written, in letter format, stating any interest which the objector may have, with names and full addresses and with a concise statement of the grounds of the objection. For further details, see the Development and Planning (Applications Procedure) Rules 1997.

Electricity

Everything depends on the reliability of this. When outages occur from gale force winds because only relatively few homes and streets have underground electricity, electric water pumps do not work and consumers cannot access the water. Some homes have - and many more need - portable generators (see separate heading). A serious disadvantage is if the property needs major electrical work. It could involve months of stress and strain in high humidity. All this is at a very high local cost compared to North America and Britain.

Executors of Bermudian estates

Expatriate land registry coming

At least 37% of Bermuda's homes are believed to be beneficially owned by non-Bermudians (non-nationals, foreigners). In February 2010 it announced it will be compiling a register of non-Bermudian land ownership and has granted foreigners the same extension to ensure they comply with an anti-fronting law. Expatriates who own homes and other real estate here under a licence granted before August 2007 have until June 22, 2110, under the terms of the Bermuda Immigration and Protection Amendment Act 2007 and 2010 to get that licence validated by Government or face having to sell their property and probably be fined heavily as well. The latest legislation is a law designed to outlaw the practice of fronting, where non-Bermudians gain an unlawful interest in land here by using a Bermudian "front." The Act requires non-Bermudians who contribute towards mortgage payments or benefit from rent on a property to be licensed even if they are not named on the title deeds. One of the aims of the 2007 Act was to allow Government to gain an accurate picture of the acreage of land owned by non-Bermudians. It is supposed to be no more than 400 acres per parish, but is believed to be more.

The true scale of foreign land ownership had yet to be determined, with 2,300 acres "on record" but licences for only 356 acres of land validated since 2007. Bermuda has just 13,000 acres of land, with 6,000 of those for residential use. That may prove to be the highest percentage of land owned by non-citizens of any country in the world. In 2007, the Bermuda Government was investigating 200 properties considered to be fronts. Government believes it must preserve our land for our children and our grandchildren. There is nothing left. The 2010 amendment, which was passed by MPs, also clarifies that parents applying for Bermudian status must have children who all possess Bermudian status.

Fractional Units for Sale

Presently there is no central register or website. Some are being sold by hotels, others by realtors.

Garages at homes or condos or apartments

Whether buying or renting, an apartment of any size or house with a garage is essential for a car or moped or scooter. Those without one should be avoided because vehicles not stored in them just do not stand up to Bermuda's salt-laden air, constant winter gales and periodic hurricanes. Do not leave your vehicle outside at night without being garaged. Even rust-proofing is only partly effective for garaged vehicles.

Gardening

For home owners who do not wish to do this themselves, they can employ a gardener from $30 an hour or a gardening contractor which will quote for year-round maintenance.

Generators

Especially after Hurricane Fabian on September 5, 2003, when virtually all Bermuda homes were without electricity for periods ranging from days to three weeks, portable generators are an absolute "must" for all who own homes and many who rent homes or apartments. There is a very high Bermuda Government Customs Duty rate on them, exceeding 30%. If bought locally, they can retail for over $2,000. If bought and imported privately, from places such as Home Depot (enter "generators" in the search prompt) in Florida or New York, they will still cost more than $950 after transportation delivery and Customs duty. As most homes in Bermuda are of limited acreage (one third or less) and are close together, the noise of a generator can be very stressful, so should be plugged in only during the day.

Granting permission to reside in Bermuda

But not be employed, for which a separate Work Permit is required by any non-Bermudian.

Home insurance

Homes and Ageing problems

More than 90% of all Bermuda private homes do not yet have all these features, yet about 15% of all Bermuda residents are seniors, some very frail and liable to fall.

Household Income

Statistics

Houseboat homes or rentals

Not for everyone and with some disadvantages, but for those who like to live on boats, the pros outweigh the cons. It is a viable alternative to the huge cost of buying or renting land-based housing in Bermuda. But space is at a premium at places such as the marina in Dockyard, where a waiting list has been created. Other places include Ely's Harbor, Mangrove Bay, Jew's Bay, St. David's and St. George's Harbor. The cost of a mooring and what comes with it can be crucial. Costs from from $85,000 for a 10' by 35' Vagabond but expect to pay at least $160,000 if you want guests to sleep over. Users require strict compliance with local marine and environmental laws.

Illegal apartments

Especially for non-Bermudians on a Work Permit, they should be avoided like the plague as a potential source of trouble and expense. An illegal apartment is one that has not passed the tests of the Bermuda Plan 1992 Planning statement and has one or more of the following faults:

Joint tenants or tenants-in-common

When property - houses and/or condominiums and/or land - is passed on by a parent or parents to their children or relatives, they become owners and/or co-owners. There are two kinds of co-ownership, one known as "joint tenancy" and the other as "tenants in common." There are significant differences between the two. In a joint tenancy, each co-owner has an unspecified share which cannot be sold separately. Generally, when a co-owner dies his/her share goes to other co-owners regardless of the stipulations of any will. In a tenancy in common, see http://homeguides.sfgate.com/tenants-common-legal-rights-6824.html, each owner has a specific share, for example 25% each in a family of four children, or 50% each with two children, or by arrangement each co-owner can hold an agreed proportion of the property. This form of co-ownership also enables all the parties concerned to transfer their shares during their lifetime if they wish, without any legal requirement to notify any other party beforehand and bequeath their shares entirely as they wish in their will, a process which will ensure their shares continue to be protected. This means that on the death of any of the co-owners in a tenancy-in-common, their shares do not pass to other co-owners (as it does in a joint tenancy) but to a spouse or another or others designated in a will.

When a will does not specify that co-ownership of a property goes to specific individuals in joint tenancy or as tenants in common, a lawyer may suggest a Declaration of Trust be signed, to record the respective shares. If the property is sold in the future the amount of equity distributed to each owner will reflect the terms of the Declaration of Trust. A lawyer should be consulted for more details, terms and conditions, changing from joint tenants to tenants in common, etc. and inform clients of any problems.

Land Title Registration

In December 2011, it was announced that finally, after planning for this since 1999, Bermuda is to change from deeds-based property transactions to a parcel-based land registration system, under landmark Land Title Registration Act 2011. But a major concern was about that law is that it allows government to take over land if it was not registered within three years. But Attorney General Senator Kim Wilson said that the law was not intended to dispossess people of their land. If a bona fide owner could demonstrate after the deadline their claim then they would be the owner of the land. And if the land has been developed by then, the owner would be entitled to compensation. The Bermuda Government had been considering a land title registration legislation to simplify the process of buying, selling and mortgaging land The Department of Land, Buildings and Surveys will introduce a system of land title registration. It will provide a definitive record of ownership and other rights and interests in land such as mortgages and rights of way. There will be a functioning Land Title Registration Office. A new IT system will record the information as well as provide comprehensive details of all land Government holds. Work continues on the online mapping access giving access on address, location and other data layers. Surveyors would be working major mapping projects this year including a new area survey which will produce new larger scale aerial photos of the whole island. In time the new aerial map will be publicly available to the whole community to be used as the basis of decision-making, planning and project work across the island.

Environment Minister Marc Bean has promised easier property sales arising from this. All of Government’s land holdings are now entered into the Land Register. The latter now has the authority to register privately held land. The Government foresees significant benefits accruing to the public as a result of the implementation of a Land Title Registry. Such a system should provide for the guarantee of legal ownership of land and the simplification of conveyance transactions. Currently, property transactions can take months to complete, and at significant expense. Once a parcel of land is registered, the register will become the definitive record of title and subsequent transactions can be carried out in a fraction of the time and at a fraction of the cost. Property would have to be registered by the owner following a “triggering event,” such as the conveyance on sale or otherwise, the granting of a lease for more than five years or the creation of a new mortgage. The Ministry estimates that all private lands would be added to the register after around ten years. Mr Bean said the register will reportedly rely heavily on the Government’s Geospatial Information System, marking parcels of land on high-resolution aerial photographs. In order to ensure that Government has the most current and most accurate mapping data, the Department of Land Surveys and Registration, of which the Land Title Registry is a part, will soon procure a new set of aerial photographs. These photographs will be analysed and digitised to enable us to carefully identify each parcel of land. Once in place, the land registry would help to protect the rights of property owners who historically may have been taken advantage of. The Minister noted: “Many of our elder generation have experienced the injustices of their family land being adversely possessed by what some might describe as unscrupulous professionals, and even at times by their own family members. Many of us can tell a tale of land being swindled from their family. Many of us still feel the pain of this theft. It is the intent of this bill to bring an end to this sorry practice.”

Lawns

Homes with lawns of their own are fortunate in one way, but keep their homeowners or renters busy in another. In drought conditions, which can be frequent in the summer months, it is not advisable to use chemicals to control weeds or even pest and diseases unless the plants are well irrigated and then only in the cool of the day. A "good" lawn should be virtually weed-free, of good colour with little or no thatch and of one grass type. Selecting the right grass type for the specific area will save future headaches with less maintenance problems to deal with. Mixed type lawns can be troublesome not only from a patchwork appearance but also with weed control as chemical control for one type of grass may adversely affect another type. Common Bermuda grass seed is sown at a rate of two to three pounds per thousand square feet, sow in two directions to obtain a more equal coverage. St. Augustine plugs are planted at four inches to six inches apart and are best installed in spring. As temperatures rise, they will, when maintained properly, in-fill quickly. Warm season grasses are St. Augustine and variety Floratem, a chinch bug resistant strain; Bermuda grasses and their hybrids and Zoysia. St. Augustine grass is not always advisable as it is subject to attack by chinch bug which will devastate a lawn in a short period of time given the right conditions. Many homeowners prefer to let landscaping companies handle their lawn mowing and maintenance.

Leases

If you lease instead of own an apartment or condominium or home, note carefully that you will not rent by the month but will lease for a specific, mutually-agreed time. Leases are legal and breakage of a lease should not be attempted without risk of a severe penalty. If an employer, not a professional newcomer employee, signs a lease, great care should be taken by the employee not to put the employer at risk. The employee will still be liable to the employer for payment of utilities, conduct and care and interior maintenance of the leased property.

Littering of residential premises

The Waste and Litter Control Act 1987and its penalties may apply, but only if the litter from yours or another person's rented or leased or owned apartment or condominium or house is visible from a public place, for example, from a main road or estate road, park, etc. This type of litter should always be reported first to the Bermuda Government's Department of Works and Engineering for investigation.

Mortgages and mortgage rates

The Book of Mortgages at the Registrar General's Office will have details of all conveyances where mortgages are involved and all re-conveyances satisfying the mortgage. Bermuda banks are now willing to lend approved buyers up to 80 percent of the appraised value of a house. With an average mortgage of 20 years, persons who are loaned $400,000 for an average-priced $500,000 house will pay a variable rate from 7.25 percent plus fees. A household would need to earn at least $7,000 a month to qualify.

Organizations that provide mortgages include banks; Bermuda Savings & Loan, possibly some local (Bermudian) insurance companies; some law firm's trust departments. Some will lend to non-Bermudians. Terms range from 5-20 years.

Planning Applications

Bermuda largely follows the UK system, which has its flaws. Technically, a neighbor can object to an owner or new owner's application to Planning for amendments, upgrades, improvements and renovations. Anyone contemplating buying a house that has been noted or described by a realtor or neighbors as needing fixing up or extended or improved or in any modified in a way that needs Planning approval and wanting to make any such alterations now or in the future should make a special point of first asking the selling agent for details and also neighbours of that property if they are likely to object. In theory, if not in practice too, a house clearly in need of an extension or other modification should have had planning permission in principle granted, after an appropriate plan has been submitted. It may reduce the prospective value of a house if this has not been done. A potential seller should also compare the asking price with an competent and reasonably timely market-price evaluation by a qualified surveyor. You are advised not to buy the house if a planning application is likely to be rejected. It's been claimed, but this is arguable, that no purchaser is likely to pay to have plans drawn up and neither would he be able to submit them, until after he is the owner and the old owner has received his payment. Any objections a new owner may or may not make to plans a new owner of a house may produce in the future would be the business of the neighbor or neighbors entirely, after considering whether there would be any point under the planning and zoning laws.

Real estate links

The website of any realtor in Bermuda will be shown here gladly as a free courtesy active link if it will reciprocate with a link back to Bermuda Online at www.bermuda-online.org.

Real Estate by Parish map

Rents and Rent Control

Some non-Bermudian newcomers receive a housing allowance from their employers. It can pay all or some of the rental costs. Utilities are always extra. Newcomers are advised not to pay any more than 28% of their salary on accommodation if they do not receive a partially compensatory housing allowance.

In February 2011 the average price of a one-bedroom property $2,389, a two-bedroom $3,551 and a three-bedroom $5,403. Location and scenery are among the most significant factors.

Non-Bermudian property owners are prohibited from buying 'investment' property or property intended primarily to earn rental income. While they may be given permission by the Immigration Department to rent under certain circumstances, this permission cannot be taken for granted and is generally not given for periods in excess of one year. (A tax of 10% is paid to the government on rental income earned by non-Bermudians).

Under the Rent Increases (Domestic Premises) Control Amendment Act 2009, approved by MPs in December 2009 the annual rental value (ARV) ceiling band for rent control purposes from $24,600 to $27,000. The Act seeks to stabilize the percentage of premises that are rent-controlled. Tenants without the benefit of protection may be exposed to landlord undesirable practices and abuse, such as speculative rent gouging, inordinate rent increases, rent profiteering and unjust eviction.. Rent control has been in place in Bermuda since the late 1970s and is enforced by the Rent Commission. About 16,800 premises on the Island fall under the $27,000 ceiling, making them potentially subject to rent control. In theory, anyone in a rent-controlled property who felt they were paying too much could go to the Rent Commission. If someone has been paying too much rent for an amount of time, they can get reimbursed. In 2000 the ceiling for rent control was an ARV of just $9,900. In 2009 putting into effect the upper level of ARV to $27,000 is nearly a 300 percent increase. In the early 2000s, all homes and apartments (flats) with an annual rental value (ARV) of less than $16,000 were subject to rent control. This applied anew since August, 2000 with the Rent Increases (Domestic Premises) Control Amendment Act 2000. It updated the Rent Increases Domestic Premises) Control Act 1978. Before then, only homes built before 1983 and with an ARV of less than $9,900 were subject to the controls. The legislation increased the number of rental units affected by rent control from 3,600 to 13,300 or 48 percent of Bermuda's residential units.

Landlords and tenants should be aware that a court action may result if the landlord of a rent-controlled property (house or apartment) shows a cynical disregard for the rights of a tenant. A common example of this is physical removal of the tenant or his possessions to re-let at a higher rent. Landlords should know that an order of a court is always required before a tenant may be lawfully dispossessed.

Security Precautions

With drug addition rife and burglary and other ant0social crimes common, Bermuda is not a low-risk area.

Selling Taxes

The vendor is typically responsible for paying 50% of the stamp duties (see below) on a conveyance.

Sellers of properties in Bermuda need to produce title deeds going back at least 20 years. Title deeds must be kept in a safe place known to the owner at all times. Those who have a mortgage should expect the mortgage holder to retain possession until it is satisfied. Possession of a deed is required to mortgage or sell a property.

Stamp Duties

The Stamp Duties Amendment Act 2008, a revenue-raising act, changes the various rates of stamp duty payable on the conveyance or transfer of property and land on the Island. It will need to be clarified whether the seller or buyer pays these or if they agree to split the cost. The new tiered rate structure from April 1 2008 is:

Most first-time home purchasers seek properties - condos only usually - valued at less than $1 million. Home buyers in this segment of the housing market will have the full benefit of the reduction in the rate from 2.5 per cent to two percent in the lowest tier. For properties that sell for more than $1 million the rate of stamp tax will be higher.

Subdividing

For Bermudians, the potential for subdivision will be governed by the zoning of the area. Non-Bermudians may not subdivide unless the portion subdivided is sold to a Bermudian and the portion retained has a qualifying ARV.

Surveyors

Only licensed surveyors are licensed under the Professional Surveyors Registration Act 1997. In March 2002, 21 were registered.

Time share units

There are some, mostly at The St. George's Club. Prospective owners should make sure they know what the local laws and regulations are.

Utilities

These are not included when renting apartments, condos or single family dwellings and are triple or more the rates in most US cities. Get an account with the Bermuda Telephone Company (BTC) and local electric and gas suppliers. With air conditioning, electricity alone for a three bedroom house can easily cost US$ 450 a month. (One way to save on this if facilities permit is to get a system known as Geo-Exchange from Bermuda Energy Conservation Ltd). Home buyers should get it in writing as part of their purchase contract that the electricity wiring is modern, up to code standards and with a reliable electrical map of the wiring available to the homeowner. Bermuda homes may be very attractive to look at, but it will be expensive and prolonged if they need extensive rewiring to meet current code standards. A contract for such services is recommended. Bermuda limestone or concrete block walls have to be ripped open with jack hammers and plaster ceilings also cut into and exposed, with holes all over the place and dust and debris, at many times the cost of new electrical wiring in homes in the USA or Canada or United Kingdom.

Note the lack of central heating in most Bermuda homes and apartments. Some Bermuda winter days and nights can be quite damp and chilly for non Bermudians accustomed to having seasonal central heating. Some homes have a fireplace, while others may have a ductless split heat pump system with reverse cycle heat during the winter and air conditioning during the summer. If not, electric heaters and separate air conditioning units for winter and summer comfort levels are available commercially.

Vacant possession

Always best, when selling a home. Tenants who will continue in an apartment cannot be counted as vacant possession and could cause complications.

Water

Zoning Areas

Residential properties are typically zoned either Residential 1 or Residential 2. Residential 1 is higher density than Residential 2. Local realtors can be more specific. The current Bermuda Plan shows the present zoning for every part of the island.

Bermuda homes, condominiums, apartments and fractional units for sale or rent

Types, costs, taxes, affecting citizens and non-Bermudians

Introduction

Best places to retire overseas

Land Evaluation and Land Taxes (real estate or property taxes)

Assessment Numbers of houses and apartments and their impact on parking of motor vehicles

Bermudian Buyers who have a non-Bermudian spouse need a license

Buying and Operating a Bermudian home compared to in the USA

Compared to, in USA

Local breakdown

Administration of Estates Act 1974

Appraisal fees

Architecture, cess pits, sewage and water supply

Bermuda Immigration and Protection Amendment Act 2007

Bermuda Residential Building Code

Boundaries

Burglaries

Citizenship

Closing Costs

Commercial real estate

Condominiums available to overseas nationals

Conveyance, re-conveyance

Development potential

Electricity

Executors of Bermudian estates

Expatriate land registry coming

Fractional Units for Sale

Garages at homes or condos or apartments

Gardening

Generators

Granting permission to reside in Bermuda

Home insurance

Homes and Ageing problems

Household Income

Statistics

Houseboat homes or rentals

Illegal apartments

Joint tenants or tenants-in-common

Land Title Registration

Lawns

Leases

Littering of residential premises

Mortgages and mortgage rates

Planning Applications

Real estate links

Real Estate by Parish map

Rents and Rent Control

Security Precautions

Selling Taxes

Stamp Duties

Subdividing

Surveyors

Time share units

Utilities

Vacant possession

Water

Zoning Areas

125+ files on other aspects of Bermuda