City living is calling out for more residents – The Royal Gazette | Bermuda News, Business, Sports, Events, & Community

Log In

Reset Password
BERMUDA | RSS PODCAST

City living is calling out for more residents

First Prev 1 2 3 4 5 Next Last

Records held by Coldwell Banker Bermuda Realty show that 20 condos have sold island-wide so far in 2021 with approximately 50 per cent of these sales in city or fringe city developments, clearly illustrating that the market has a strong appetite for city living.

Purpose-built residential developments within the City of Hamilton, or fringe city areas, make up approximately 150 residences in total.

Bermuda Realty Agency manager Susan Thompson said that one development which real estate agents have been actively showing is Rosemont City Place.

Of the 13 residences within this development, five of these homes are now spoken for, with the most recent sale in June. Another is currently under contract.

The remaining two-bedroom and three-bedroom residences within this fringe-city development have list prices starting at $985,000 and all benefit from between 1,440 square feet to 2,080 square feet of internal living space.

Most of the residences have sitting tenants hence are providing owners with very robust income streams.

Ms Thompson said: “Our rental team has observed that three-bedroom rentals $5,000-$8,000 are in high demand.

“We recently listed a property for $7,000 and had multiple offers at, and over, the asking price within days of the listing. This is the price bracket where we absolutely need more inventory.”

Top sales and rental agent Adam Birch said: “As an agent, my rental inventory tends to fluctuate around 15 listings at any given time, sometimes spiking to 20 and rarely, if ever, below 10.

“At this moment I have about five rental listings. New listings are being rented fairly quickly across the board and I need new inventory to satisfy the current demand from qualified tenants.”

Rosemont City Place: being actively shown by Coldwell banker Bermuda Realty
Susan Thompson, Coldwell Banker Bermuda Realty Agency manager
Adam Birch, Coldwell Banker Bermuda Realty’s #1 sales and rental agent for 2021
Rosemont City Place: being actively shown by Coldwell banker Bermuda Realty
Rosemont City Place: being actively shown by Coldwell banker Bermuda Realty

You must be Registered or to post comment or to vote.

Published November 29, 2021 at 7:59 am (Updated November 29, 2021 at 7:51 am)

City living is calling out for more residents

What you
Need to
Know
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon