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...

"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 expat who made the move to Bermuda, 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," explained one expat living in Bermuda.

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What is the average cost of housing in Bermuda?

If you live in Bermuda, newcomers to Bermuda would love to hear your answer to this question.

About the Author

Joshua Wood, LPC joined Expat Exchange in 2000 and serves as one of its Co-Presidents. He is also one of the Founders of Digital Nomad Exchange. Prior to Expat Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.

Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.