Bermuda Real Estate Market Brief — 2025
Bermuda's real estate market in 2025 showcases a dynamic blend of robust demand, limited inventory, and transformative developments, particularly in the hospitality sector.
Residential Market: Sustained Demand Amid Tight Supply
The residential sector continues to experience strong demand, especially in central locations like the City of Hamilton. One-bedroom condos are particularly sought after, with rental rates ranging from $3,500 to $4,500 per month. However, overall housing inventory remains low, with only 216 residential properties listed for sale as of March 2025.
Larger family homes for Bermudians are selling swiftly, often through cash transactions. International buyers are showing increased interest in newly developed condominiums, particularly those available through resort developments and the Economic Investment Residential Certificate (EIRC) program.
Rental Market: High Demand and Limited Availability
The rental market is under significant pressure, with only 67 properties available island wide. This scarcity is driving up rental prices and making it challenging for tenants, especially those with pets, to find suitable accommodations.
Bermuda is expecting to see long-anticipated reforms to its landlord and tenant legislation, marking a significant step toward modernizing housing policy and easing rental market pressures. It is hoped that these changes will offer more security to both Landlords and Tenants and go some way to decrease the shortage of rental inventory.
The conversion of the Bermudiana Beach Resort in Warwick from a hotel project to 94 long-term rental units, has been released to the market and is expected to meet some of the demand.
Commercial Real Estate: Growth and Redevelopment
Developments like 33 Church Street are progressing to and expected completion this year. This is the first development in the City of Hamilton under Approved Hamilton Residential Scheme and is available for purchase by both local and international buyers with minimal restrictions.
The commercial property sector is poised for substantial growth, with projections indicating a 50% increase in the value of commercial listings by mid-2025. Key redevelopment projects, such as Brookfield Place and the Belvedere Building in Hamilton, are transforming older structures into modern Class A office spaces, reshaping the city's commercial landscape.
Elbow Beach Hotel: A Landmark Redevelopment
A significant highlight in Bermuda's recent real estate landscape is the acquisition of the historic Elbow Beach Hotel by The Loren Group. The group plans a comprehensive redevelopment of the 44-acre property, which has been closed since 2020. The project will feature a mix of luxury real estate, an expansion of The Loren Hotel, restaurants, and wellness facilities, aiming to rejuvenate the iconic resort and contribute to the local economy.
International Investment: Continued Confidence
Bermuda remains an attractive destination for high-net-worth international buyers, particularly from the U.S., Canada, and Europe. The EIRC program continues to facilitate international investment, allowing for the purchase of eligible properties. Luxury estates and resort condos are in high demand, reflecting Bermuda's appeal as a secure and desirable location.
Market Outlook: Strategic Growth Ahead
Bermuda’s real estate market in 2025 is defined by momentum, innovation, and resilience. From steady residential and rental demand to landmark developments like the Elbow Beach Hotel and major commercial transformations in Hamilton, the island is undergoing meaningful growth.
While low inventory and affordability continue to pose challenges—particularly in the rental sector—ongoing government reforms, legislative updates, and new residential incentives are helping to create a more balanced and accessible market.
International interest remains strong, with Bermuda continuing to attract high-net-worth buyers seeking luxury, security, and lifestyle. With the introduction of the Approved Hamilton Residential Scheme and the release of new long-term rental units, 2025 is shaping up to be a pivotal year of progress.
As Bermuda evolves, its appeal endures: a rare combination of natural beauty, close-knit community, and high-quality real estate opportunities.
