The Government is working hard to address the housing crisis in Bermuda by undertaking projects to update and develop 37 new affordable housing units at Chelsea, Battery Road and Middle Town.

In addition to these works, Zane DeSilva, the minister, announced that five priority locations have been selected for housing development in 2027 on sites already owned by the Government.

That is light at the end of the tunnel for the more than 350 Bermudians who are on the Bermuda Housing Corporation’s waitlist, not to mention the elderly who are on the waiting list for the Bermuda Housing Trust residences dedicated to senior living.

Some families and senior citizens have been on these waiting lists for a lengthy period. Their living conditions at present are most likely overcrowded, not conducive for youngsters to do homework, lack privacy and encourage depression and a cauldron of other negative outcomes.

The Bermudiana Residences in Warwick were built on a privately owned 13-acre plot that was premium land for tourism but unfortunately came at a price because it desecrated green space and woodlands. Butterfield Bank was to provide financing of $80 million for a 100-room hotel and $70 million to build 125 affordable homes. The hotel never got built, the affordable homes were not affordable. Close to two decades later, with flip flopping plans, it has cost the taxpayer almost $100 million.

This has now become part of the $3.5 billion debt that our island is in. Thankfully, the Government received $750 million from corporate income tax on a tiny portion of our exempted companies in the 2025-26 fiscal year and it has promised that it will apply a good chunk towards the debt. I wish the Government would instead tax all international business 3 per cent CIT and not introduce personal income tax, but I digress.

A caring government ensures that its people are sheltered, have food, have access to healthcare and that young people are provided a functioning education system that prepares them for a bright career future. It is only reasonable that these very basic necessities be provided.

I really do hope that the Government will allow the Bermudiana Residences to be placed as an asset in the hands of the Bermuda Housing Corporation for the purpose of low-cost housing. Serious consideration for all the studio apartments should be given to the seniors on its waiting list, followed by the most vulnerable.

Regarding the housing minister’s proposal for prefab homes, well, I must say it took some convincing by my friend and MP Christopher Famous to make me reconsider.

Like many Bermudians, when I travel, people ask about our beaches, the hurricanes and the Bermuda Triangle. I feel proud about our traditional building methods and strict codes and answer that we survive very well when it comes to hurricanes.

I noted to Mr Famous the cost of maintenance exceeding the cost of building the Dr Cann Park and that this was why I had little faith in prefab. Mr Famous referenced the prefab development in my area near Elliott School which used different prefab materials than Dr Cann Park.

Now I must say that these condos always look smart, well kept and I concede that I have never seen them get mashed up by hurricanes. So I compromise and agree that maybe prefab homes can possibly be a good solution to our immediate housing crisis, but it would come with some concessions. However, I am 100 per cent against using containers for housing.

Mr De Silva has advised that 262 prefab homes are to be constructed over the next 18 months. So, No 1, I think it would make sense that the construction be a prototype development and not to be repeated unless it proves worthy over time.

Secondly, freezing rent increases from bottom up across the island for a period of at least two years. This measure is criticised by realtors and developers for potentially reducing investment in the private rental sector. Well, that is exactly what needs to happen. Our real estate is overpriced owing to lack of land, the deep pockets of the international workers, the local property elite who invest in property with no capital gains tax implications and greedy realtors.

Third, implement stricter restrictions on foreigners buying residential homes in our tiny island. Other much larger countries have done so. For example, since 2023, foreigners have been banned from buying real estate in Canada. This policy was recently extended until the end of this year. Switzerland has strict quotas and regulations. In Thailand 51 per cent of the total floor area of condominium residences must be owned by Thai nationals.

Several nations and territories in the Pacific region have implemented, or proposed, restrictions or outright bans on foreign ownership of residential property to curb skyrocketing prices and protect local housing affordability such as New Zealand, Australia and the Philippines.

Australia implemented a two-year ban on foreign investors and temporary residents buying existing residential properties from April 1 to March 31, 2027.

Allowing foreigners to buy residential properties in Bermuda starting at $3 million needs to go! The threshold should be raised to at least $6 million.

As things stand, the only Bermudians who can afford a house are those couples that earn more than $100,000 a year each. That means more than 75 per cent of our people have no hope of ever owning their own home.

Going back to my opening comments, the Government is implementing worthwhile measures to build new affordable housing, with the majority expected to come online in the next few months.

I would implore the Minister of Housing to utilise the Bermudiana Residences for those Bermudians on the BHC waiting list. I hope that the proposed 37 new housing units are completed professionally and within budget.

It is further hoped that a prototype development for prefab homes is established and tested against our weather conditions for a minimum of three years before carrying out further developments on the remaining 30 government-owned sites across the island.

• Cheryl Pooley is a former Progressive Labour Party candidate