Real Estate and Bermuda lifestyle

In times of stress people seek sanctuary. Currently in the U.K. millions of pounds are being spent by people from cities who are seeking refuge and places of safety and security by buying homes in attractive rural locations.( As Bermuda has fared well during the pandemic and as we continue to market the island as a beautiful sanctuary and safe place to be I feel we are well placed to market our struggling real estate market. These are drastic times, and we need drastic measures. Open up the market to everyone. For now. Not forever. But for right now, open it up. Allow Bermudians to sell their homes to anyone. Allow them to realise their equity. There can be one caveat. That the property must be offered to Bermudians first. If no Bermudians want to buy it after say 2 months then it can go onto the open market. If it’s bought on the open market then when that person wishes to sell it on then it to has to be offered to Bermudians first. Again, if Bermudians don’t want it then it can go into the open market. It could provide Bermudians large sums of money to use as they wish. No Bermudians loose out as it will always be open to them first. It can be stopped at any time. People who come have no right to work but could set us a new business if permission is given as per the usual rules. They will spend here. They will allow Bermudians access to their equity. If people can buy freely they will be more inclined to start a business if they have invested in property here. If they buy, they would have residential certificates that allow them to live and not work, but can start a business. They must sell to a local first. I think the first people who buy will be people already here on permits. But it would develop into visitors from overseas. It can be retired once there’s enough uptake. Should another pandemic come, we can again close down our borders and again ride it out. Market our island as a safe, beautiful sanctuary to live and invest in property. It’s time to be bold. You have a product that should be treated as the previous resource it is. We have all the attributes. We just need some stimulus and we need it right now. . Rather than take us down new and untested avenues, instead take what we have, what we know we’re blessed with and market that. Thank you for listening. My back ground is in design (fashion designer for couture houses in London) ) and have gone in to design and develop luxuary homes in the U.K. I live here in Bermuda and am currently developing a property here to try the market.