New regulations limiting the number of Bermudians selling condominiums to non-Bermudians have been discussed in the House of Assembly.

Only a series of specified units will be eligible to be held or bought by non-Bermudians, according to the Bermuda Immigration and Protection (Designation of Eligible Condominium Units) Regulations 2007.

Labour and Immigration Minister Derrick Burgess told the House the move was necessary because 37 percent of the Island's residential properties were owned by non-Bermudians.

"That's a lot. I don't think anywhere in the world you would find that," said Mr. Burgess.

Shadow Labour and Immigration Minister Trevor Moniz warned the move would lead to a devaluing of properties owned by Bermudians, and a rise in the value of condominiums owned by non-Bermudians.

Regulations on the issuing of licences over letting properties were also discussed under the Bermuda Immigration and Protection (Rental and Use) Regulations 2007.

The new law states the Minister may not issue a permit to a non-Bermudian to rent out a unit unless the person who is to rent the land is Bermudian or is ordinarily resident on the Island.

Non-Bermudians who own the unit jointly with their Bermudian spouse will be exempt from this rule — prompting an accusation from Opposition United Bermuda Party MP John Barritt that the legislation is discriminatory.

Another regulation discussed was the Bermuda Immigration and Protection (Land Holding Charges) Regulations 2007, which states that non-Bermudian land-owners will have to pay fees of up to 22 percent the value of their land.

Mr. Moniz said he did not object to the legislation because he understood such a policy already existed.

Draft regulations on all three pieces of legislation were moved on Friday without any objection.