Land-holding charges for non-Bermudians on residential units will go up from 22 percent to 25 percent as part of an amendment to the Immigration and Protection Act.

Junior Housing Minister Walter Roban, who read draft regulations in the House of Assembly on Friday night, said the corresponding figure for condos and tourist accommodation would also increase from 15 percent to 18 percent.

Mr. Roban said residential units had been fixed at 22 percent since 1996; and that condos had been reduced to 15 percent from 20 percent in 1992.

Shadow Finance Minister Bob Richards said property buyers had still felt the pinch in that period because of skyrocketing prices.

Meanwhile, another amendment to the act announced by Mr. Roban will offer a tax relief to hoteliers who invest in development.

For tourist accommodation, on the first disposition from the developer, the land-holding charges will be cut from 15 percent to ten percent.

Mr. Roban said: "It's this Government's aim to improve all tourism product by introducing tax incentives to hoteliers who improve their product by development."