Government has admitted it failed to consult properly over its controversial crackdown on property sales to foreigners which realtors say will only hurt Bermudians.

Now non-Bermudians are only able to buy homes which have an annual rental values above $126,000 and are being sold by non-Bermudians.

Condominiums can also be bought by non-Bermudians but only from other non-Bermudians.

Realtors said the new policy would mean foreigners would have a bigger market to sell their homes while Bermudians could only entertain offers from their compatriots.

Chief Immigration Officer Martin Brewer said yesterday: ?There was considerable consultation within Government.

?However, we acknowledge there has not been the degree of consultation outside of Government for which some members of the community might have hoped.?

He further explained the policy. He said new condos in designated developments which are already approved for sale to non-Bermudians can still be sold by the developers to non-Bermudians. The minimum ARV for condominium units is $28,800.

He added: ?New top end properties, other than units in designated condominium developments, with ARVs over $126,000 are, presumably, houses owned by Bermudians.

?If that is the case, such properties cannot be sold to non-Bermudians.?