Reminder Issued On Land Review Submissions
Minister of National Security Wayne Perinchief reminded the public to send in their views to landreview@gov.bm.
“We’ve received fifteen submissions from the public which have been useful to the working group. Having promised that they would be finished their task by 31st August I am reminding the public to ensure that their voice is heard and to submit their views,” Minister Perinchief said.
The Minister set up the working group to review areas of land policy, in particular the questions:
- Does the state of the market presently support the creation of three bands of annual rental value (ARV) as a guide to land holding policy and the sale/purchase of land, differentiated by nationality or status?
- Can the fee of 18% for the purchase by PRC holders be reduced to stimulate this sector of the real estate market?
- Can the moratorium on the acquisition of land by PRC holders be relaxed to permit the purchase of condominiums that are not Government owned and not within a certain ARV bracket?
- Can the policy on the acquisition of land by non-Bermudians be stated more clearly to eliminate differences in interpretation between relevant stakeholders?
Mr. Perinchief concluded: “We are very interested in hearing from the public on these important issues and I look forward to the receiving the recommendations of the working group.”
