Real Estate in Bermuda

How do I find a place to live in Bermuda?

We asked expats how they chose their neighborhood and found a place to live. They answered:

"By word of mouth - Good reasonably prices apartments for rental do exist, but they never make it as far as the newspaper adverts. Tell everyone you know that you are looking for a place to rent. Keep your ear to the ground to find out who is due to move off the island - and ask if their apartment might be coming up for rent. Don't be too concerned about the neighborhood - there aren't any really bad places... even those areas with "a reputation" are far safer than anywhere in a European City," said another expat 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," remarked another member in Bermuda.

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What is a typical expat home or apartment like in Bermuda?

"One bedroom apartment, attached to landlord's house. This is a typical set-up in Bermuda. In the past it was difficult to obtain a mortgage in Bermuda, they were not available for more than a 5 or 10 year period. So, to fund the building of a house, people built self contained apartments on to the side, to generate rental income," explained one person living in Bermuda, 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," said another expat in Bermuda.

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What is the average cost of housing in Bermuda?

If you are thinking about moving to Bermuda, cost of living in probably a key consideration. Expats commented about the cost of housing:

"Rent is expensive in Bermuda. But as the lifestyle is so much more focused on being outdoors I chose to rent a tiny one bedroom place - I only really use it to sleep anyway," said another person 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," remarked another foreigner who made the move to Bermuda.

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