Hashtag: #BermudaRealEstate
‘Building Up Instead Of Out’ To Conserve Space
“To conserve as much green space as possible, we will be building up instead of out,” the Fairmont Southampton developers said, explaining that while “some of the proposed buildings will be six storeys, none will be higher than the nine-story hotel itself.” A document titled “The Bigger Picture” highlights the goals... Read more of this article
Fairmont Southampton SDO Available To View
The Ministry of Home Affairs advised that the Fairmont Southampton Special Development Order [SDO] submission has been received and is available for viewing online. The submission summary states, “Proposed Maximum 261 Unit Tourism/Residential Development Comprising up to 114 Tourism and 147 Residential Units Contained Within Buildings of 2 to... Read more of this article
Petition Calls To Revoke Vacation Rental Fee
An online petition has been launched calling for the revocation of the 2023 vacation rental licensing fee legislation. The petition says, “There is a prevailing notion that Bermuda vacation rental hosting is a lucrative business. The fact is, for the majority it is not. It is comprised primarily of older property owners who are attempting to defray... Read more of this article
Brookfield Announce Plans For Office Building
Brookfield announced plans to build a “state-of-the art Class A commercial office building with supporting ground floor retail” on Front Street in Hamilton, and said the “project is anticipated to create over a hundred jobs” with construction “expected to commence in 2024, with completion targeted by year end 2025.” A... Read more of this article
‘Keys To The Rock’ Launches Season 2
Keys to the Rock [K2TR], a Bermuda real estate podcast hosted by industry professionals Daniel Woods and Ben Rego, is aiming to “educate the Bermuda public about all things real estate,” with the premiere of season two recently released. A spokesperson said, “Keys to the Rock is Bermuda’s only real estate podcast, hosted by industry professionals... Read more of this article
Audio: Minister On Watlington House Demolition
Noting he has “been lectured, criticized, and condemned” for “ordering the demolishing of a slave master’s house,” Minister of Public Works Lt/Col David Burch said that of all the entities that said it should be saved, “not one of them offer up 2 cents to restore the building.” Speaking during the Motion to... Read more of this article
Minister Updates On BHC Housing Plans
Over the 2023/24 fiscal year “barring any unforeseen circumstances,” through the Bermuda Housing Corporation [BHC], the Government will see the refurbishment of 48 affordable rental units and 42 new units added to the BHC rental stock, Minister of Public Works David Burch said. “Over the next twelve months it is projected there will... Read more of this article
CURB & BNT On Watlington House Demolition
[Updated] CURB said they are “dismayed to learn that, once again, a building of historical importance is demolished” while the Bermuda National Trust [BNT] said they are ”saddened by the loss of this important piece of Bermuda’s cultural heritage.” CURB A spokesperson said, “CURB is dismayed to learn that, once again,... Read more of this article
Expand ‘Approved Residential Scheme’ To City
Noting that we must ensure that there is more housing given the “need to grow our working population,” Premier David Burt said the “Government will advance a bill that will amend the Economic Development Act to expand the eligibility for Approved Residential Schemes from solely the Economic Empowerment Zones to the entire City of Hamilton.” The... Read more of this article
Govt’s Mortgage Programme To Enter Phase 2
Starting on April 1st 2023, the Government will be transitioning into phase 2 of the Mortgage Guarantee Programme “where public officers with mortgages at other institutions will be eligible to transfer them over and participate in the programme,” Premier David Burt said, adding that they will also “be removing the age restriction... Read more of this article
Cabinet Approves Morgan’s Point Project
[Updated] The Cabinet has approved the completion of Morgan’s Point, with 101 residential units planned for phase one along with an amenity village with restaurants, shops, a boardwalk and more, with the Premier saying that “initial cost estimates for this first phase are $130 million.” Premier Burt tweeted the images below, saying: “Exciting... Read more of this article
‘Bermuda-Style’ House For Sale For $48 Million
A house billed as ‘Bermuda-style’ house in Florida returned to the market, with a price tag of $48 million after selling for $30.7 million in 2021. The Palm Beach Daily News website said, “An ocean-to-lake estate near Palm Beach has returned to the market with a price tag of $48 million after selling for $30.7 million in 2021. “The... Read more of this article
Over 12.5% Of Land In City Used For Parking
“Over 12.5% of land within the City is dedicated to parking facilities of various forms” and “the current volume and spread of parking facilities is to the detriment of the pedestrian environment and we believe that a better balance could be achieved.” This is according to the recently released City of Hamilton Plan 2023 Consultative... Read more of this article
Robert Richardson Earns RICS Membership
Robert Richardson has successfully earned membership with the globally recognized Royal Institution of Chartered Surveyors [RICS] as a Chartered Quantity Surveyor. The qualification is a significant milestone in Mr. Richardson’s 15 year career in construction project management and cost management, and he noted that it “demonstrates his commitment... Read more of this article
15% Vacancy Rate At City Ground Floor Level
The City of Hamilton “has a vacancy rate of 15% at ground floor level” and “we predict that this figure is likely to increase as the full and long-term impacts of the pandemic are felt. ” This is according to the recently released City of Hamilton Plan 2023 Consultative Draft which said, “Our research has found that the... Read more of this article
Minister Updates On BHC Housing Initiatives
“We will not cease in our efforts to address the housing needs of Bermudians through the provision of affordable and appropriate housing initiatives,” Minister of Public Works Lt/Col David Burch said today [Dec 9] in the House of Assembly. The Minister said, “Through the Bermuda Housing Corporation [BHC] I am pleased to share the following... Read more of this article
