BEAUTY AND PURPOSE

THE FIRST SETTLERS ARRIVED IN BERMUDA on the Plough in 1612; they faced harsh storms from the Western Atlantic and found that wooden houses were neither stable nor durable. It took until the end of the 17th century before the settlers turned to the Bermuda stone for its robust and resilient properties. They initially thought it was too soft to be an effective building material, but it has clearly stood the test of time!

The lack of fresh water on the island needed a level of ingenuity by the settlers; this directly influenced the distinctive roofs, constructed with stone slates, and repeated limewash coats to give an almost sculptural effect. The limewash cleansed the rainwater, and the steps slowed it before the “glides” directed it into barrel- vaulted or dome tanks. These tanks were partially sunk to take advantage of the cooling properties of the bedrock. Today, the tanks are generally hidden and located directly beneath the property. Various styles influenced the architecture, including Georgian, High Victorian, and Edwardian, with the availability and development of building materials from overseas. This resulted in the distinctive Bermuda architectural style instantly recognisable around the world, with the myriad of white pitched roofs and bright coloured rendered walls. This provides the richness and variety whilst maintaining a level of coherence across the Island.

Wil Onions and Val Bouchard were instrumental in shaping the classical residential style across the island since their return to Bermuda in the mid-1930s; 20 years later, they were joined by John McCulloch and formed the start of OBM Architects. The practice quickly became a leading architectural practice on the island of Bermuda, where it has been for over 80 years, embedding sustainability principles and delivering high-quality designs in the classical Bermuda style or using a contemporary adaptation.

Bermuda’s style and building fabric have been a direct response to the high winds and hot, humid environment; and they provide a robust platform to resist climate change. Renewable technologies have subsequently developed, and Bermuda has seen an increase in solar panels that now adorn the white roofs and are integrated into design solutions and encompassed within the building code, demonstrating the flexibility and relevance of the architecture today.

How To Buy Property In Bermuda

Make sure you work with an experienced real estate agent who is knowledgeable and can provide access to all the properties on the market. Once you have chosen an agent, you can rely on them to be able to fulfil all your needs and help you narrow down your search.

Non-Bermudians purchasing property in Bermuda must apply for a licence through a local attorney. Financial and personal references are required as part of the application process, which may take four months from the date of the contract. Additional fees range from 0 percent or 6.5 percent within a hotel development, 8 percent for a condominium, and 12.5 percent for a residential home.

Condominiums and houses outside of the hotel tourism properties must have a minimum ARV (annual rental value) that qualifies them to be purchased by a non-Bermudian. This policy protects the affordable housing that can only be bought by Bermudians. Per regulations that took effect in March 2021, leasehold condominiums are no longer available to overseas buyers unless they have a Residential Certificate or the condo is in a government-approved resort development. If an overseas buyer wants a leasehold condominium outside a resort development, he or she must invest $2.5 million to trigger the process, apply for appropriate certificates, and wait five years to purchase.

If you’re finding it hard to say goodbye when your trip has ended, you’re in luck: Bermuda’s market is seen as an opportunity for buyers. Older properties in need of renovation provide an opportunity for industrious buyers, whilst the newer developments are turnkey, with modern finishes and top-notch amenities. With greater opportunities and developments available, it’s an exciting time for vacation home buyers to make Bermuda the location for a second or vacation home.

You’ll find an array of investment options to suit your needs and many enticements to living here, including no income tax, no wealth tax, no capital gains tax or other direct taxes — not to mention the enhanced quality of life and vibrant culture that make the island a convenient, sophisticated haven.