Last summer’s rule change which saw an increase in the annual rental value of properties open to purchase by foreigners could have unintended consequences, a foreign homeowner has warned.Canadian Larry Marsland, who owns a home in Hamilton Parish, found his options restricted when the ARV threshold for foreign ownership was increased from $155,000 to $176,000.In a letter to the Editor in today’s newspaper, Mr Marsland explains that his home became unavailable for sale to foreigners because its ARV is just below the new threshold.“In our own case, although we have been foreign owners since 1974, we can no longer seek another foreign buyer, nor can we leave the property to our family, because our ARV now falls very slightly below the new threshold. After having invested here in good faith, we should have been grandfathered,” writes Mr Marsland.He adds that the changes have made it “more likely” that his family will move on and the Island will lose out on their contributions to the economy.In June, Government reverted to a policy which allowed sales to foreigners as long as the property was above a certain ARV threshold.Previously, Government had restricted Bermudians from selling their homes to nonBermudians.National Security Minister Wayne Perinchief did not respond to our request for comment by presstime last night.l See full letter on Page 4