Real Estate in Bermuda

"The best way to find a place to live in Bermuda is to start by researching online. There are a variety of websites that list rental properties in Bermuda, such as Bermuda Rentals, Bermuda Real Estate, and Bermuda Property Listings. Additionally, you can search for rental properties on social media sites such as Facebook and Twitter. You can also contact local real estate agents who specialize in Bermuda rentals. Finally, you can look for rental postings in local newspapers and magazines," explained one expat living in Bermuda.

"I took a tour with a couple of real estate rental agents. They are frank and give you a good idea of the neighborhood and its constraints/positives," said one person in Bermuda.

"I rent a townhouse in a condo complex as do most expats. Prices in Bermuda (where there are limits on what type of housing expats may purchase and which also impose a hugely prohibitive tax on expat's house purchases!) are steep. For a 900 sq. foot, 2 bedroom apartment, I consider it a great deal at $3,000 a month. Electricity also runs at about $350 a month during summer, when you absolutely must run your air conditioning. Phone, cable and internet are also higher than you are probably used to. There are also a fair number of house-shares done by expats," explained one person living in Bermuda, Bermuda.

"Expat homes and apartments in Bermuda are typically modern and spacious, with large windows that let in plenty of natural light. Many of the homes and apartments have balconies or terraces that offer stunning views of the ocean or the lush green hills of the island. Expat homes and apartments are often equipped with modern amenities such as air conditioning, high-speed internet, and cable television. Many of the homes and apartments also have access to a shared pool or other recreational facilities," said one expat in Bermuda.

"Much, much higher than in Canada and, according to my American friends, also higher than most US places. However, we pay no income tax -- although there is a 5% payroll tax levied -- nor do we have sales tax. To purchase, the 'average' two-bedroom cottage sells for $950,000 and two-bedroom condo goes for $725,000. That's US $ and these are available only for purchase by Bermudians," said one person in Bermuda.

"The cost of housing in Bermuda is generally quite high, with the average price for a single-family home ranging from $500,000 to $2 million. Renting is also expensive, with the average cost of a one-bedroom apartment ranging from $1,500 to $3,000 per month," said one expat who made the move to Bermuda.

"When deciding whether to buy or rent a home in Bermuda, it is important to consider your lifestyle and financial situation. If you plan to stay in Bermuda for a long period of time, buying a home may be the best option as it will provide you with a stable and secure place to live. On the other hand, if you are only planning to stay in Bermuda for a short period of time, renting a home may be the more cost-effective option. Additionally, if you are not sure how long you will be staying in Bermuda, renting a home may be the best option as it will give you the flexibility to move when you need to," explained one person living in Bermuda.

"When buying property in Bermuda, it is important to understand the local laws and regulations. It is also important to research the local market and be aware of any potential risks associated with the property. It is also important to be aware of the taxes and fees associated with purchasing property in Bermuda, as well as any restrictions on foreign ownership. Additionally, it is important to have a clear understanding of the process of purchasing property in Bermuda, including the steps involved and the timeline for completion. Finally, it is important to work with a qualified real estate professional who is familiar with the local market and can provide guidance throughout the process," explained one person living in Bermuda.

"Yes, foreigners are allowed to own property in Bermuda. Non-Bermudians may purchase property in Bermuda with the approval of the Bermuda Government. The process involves submitting an application to the Minister of Home Affairs, who will review the application and make a decision based on the applicant's financial and personal circumstances. The application must include a detailed description of the property, the purchase price, and the applicant's financial information. Once approved, the applicant will be granted a permit to purchase the property," said one in Bermuda.

"Rental properties in Bermuda typically include a refrigerator, stove, oven, dishwasher, and washer and dryer. Depending on the property, other appliances such as a microwave, toaster, and coffee maker may also be included," explained one foreigner living in Bermuda.

"Expats looking for homes in Bermuda can search online for real estate listings, contact a local real estate agent, or look for rental listings in newspapers and other publications. They can also ask friends and colleagues for recommendations, or search for expat-specific housing resources. Additionally, expats can attend open houses and viewings to get a better sense of the local housing market," remarked one foreigner who made the move to Bermuda.