Real estate development in Bermuda, and to that point anywhere in the world, typically involves various types of land that can be used for different purposes.
When it comes to land that is used for the development of family oriented homes, the end product can range from single homes to apartment complexes with retail spaces on the ground floor. There is no end to the variety of residential properties that are designed and built in this day and age.
Commercial buildings like shopping centers, malls, and standalone stores require specific planning permission to fulfill the desired outcome. Office buildings, which range from the small single unit to entire buildings have similar requirements to meet as regards local authorities and building controls.
Warehouses, distribution centers, industrial plants, factories, heavy manufacturing facilities, ranching, or forestry purposes, parks, sports complexes, golf courses, and other recreational developments all come under the commercial development category.
Each type of land comes with its own zoning, environmental considerations, and development potential, which developers need to account for when planning projects.
Why Buy or Invest in New New Real Estate Developments in Bermuda.
Bermuda is one of the wealthiest territories in the world, driven by its financial services, insurance, reinsurance, and tourism sectors. The economy is stable, making it an attractive market for investors seeking safety and consistency.
Bermuda has no capital gains tax, no wealth tax, and no inheritance tax, which makes it a tax-efficient place to invest compared to many other countries.
The Bermudian government has a strong commitment to maintaining a robust real estate market, offering incentives for investors, especially when purchasing off-plan property, to contribute to the development of residential and commercial property development.
Bermuda is known for its natural beauty—stunning beaches, mild climate, and cultural attractions. This makes it an attractive destination for both tourists and long-term residents.
Bermuda’s geographical constraints (it’s a small island) make land scarce, driving demand and competition for available real estate. This scarcity can lead to higher property values over time.
If you're considering high-end developments, such as gated communities and luxury resorts, Bermuda’s luxury real estate market offers properties in prime locations that attract wealthy individuals looking for exclusive properties.
There’s an increasing trend toward sustainable development in Bermuda, with an emphasis on green building practices and eco-friendly designs. Investing in eco-conscious developments may offer a competitive edge as demand for sustainable properties rises globally.
Bermuda’s attractive tax environment, stable economy, luxury appeal, and high demand for real estate from both locals and expatriates make it a favorable place for new real estate developments.
