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The interior design is pre-determined to comply with Hilton standards. Apart from location and property type, each condo’s interior design is identical, so that it's easier to market hotel rooms as a collective.

Bermudiana Beach Resort follows the same resilient building practices that have kept Bermuda safe from storms for over 400 years.

Using International Building Code masonry construction methods, the residences and hotel facilities are built with concrete foundations and floors and concrete block walls.

Roofs are constructed using resilient timber secured with hurricane clips, with traditional Bermuda profile roof sheathing glued and screwed to the roof assembly.

Since being built Bermuda has weathered several Atlantic storms and Bermudiana Beach Resort has performed without incident.

There will be one fully-accessible, 3-bedroom condo at Bermudiana Beach. Groundfloor Astwood #4, 1 Atlantic Crescent, has a lock-off that will allow two separate hotel rooms to become a fully-accessible 1 King Bedroom Grand Suite and a 1 King Bedroom Deluxe Suite. Astwood has been chosen owing to its proximity to the entrance, reception and amenities.

If a buyer wants a particular condominium to be made fully-accessible this can be considered subject to the above.

Prices start at $412,500 for studios, $459,000 for 1-bedroom, $614,000 for 2-bedrooms and $825,000 for 3-bedroom homes.

Prices will increase to full market value shortly after the hotel opens. The condos are priced below market value until then.

HOA fees will not be charged until the hotel opens.

Non-Bermudians may only buy property valued above a set minimum Annual Rental Value (ARV). The minimum ARV for houses is $126,000 and $25,800 for condominiums. The ARV is used to determine land tax and is not necessarily a reflection of market value.Houses with a qualifying ARV start at approximately $2,350,000 and condominiums at approximately $320,000. ARVs may be viewed on the Land Valuation Department’s website, www.landvaluation.gov.bm.

The effect of these guidelines means that only the highest valued properties are available to non-Bermudian buyers. Non-Bermudians must acquire an Acquisition License to buy a property in Bermuda. A Non-Bermudian is permitted to own up to two properties. A non-Bermudian is not permitted to acquire vacant land except in specific tourism developments.

Non-Bermudians who buy property are not able to rent it out for short-term or holiday rentals unless it's in a specific hotel tourism designated development. Non-Bermudians may be granted permission to rent their property on a longer term basis upon application to the Department of Immigration which is subject to a tax of 7.25%.

a. Stamp Duty

1. In Bermuda Stamp Duties are charged on a sliding scale: 2% on the first $100,000; 3% on the next $400,000 (up to $500,000); 4% on the next $500,000 (up to $1 million); 6% on the next $500,000 (up to $1.5 million); and 7% on everything above $1.5 million. (Thus, any property sale for more than $1,500,000 will incur stamp duty of $67 ,000 plus 7% of the value above $1,500,000.) This cost is then normally shared between the buyer and seller.
2. At Bermudiana Beach stamp duty is waived completely. Based on our Phase 1 price list this represents a saving to the buyer of between $5,000 and $20,000.

b. Other Tax Matters

1. Are there tax benefits if I buy at Bermudiana Beach?
   You will need to seek advice from a tax specialist with expertise in your own country’s laws to assist you with this.
2. Do I need a tax advisor to assess tax liability in my home country?
   Again, you should seek advice from a tax specialist.
3. Other taxes: 
   There are no other taxes on property.

c. Acquisition License Fee (for overseas buyers only)

1. Non-Bermudian buyers have to obtain an Acquisition License from the government to buy property in Bermuda. Applications are made through a local attorney of their choosing and at present cost 8% of the purchase price for a single home or 6% of the purchase price for a condo.
2. Because owner occupancy is limited to 90 days a year, the Acquisition
   License fee at Bermudiana Beach is waived. Based on current prices this
   represents a saving to the buyer of between $25,000 and $70,000.

At Bermudiana Beach your condo is real estate that you individually and wholly-own.

You own it by deeded title on a 999-year leasehold basis.

You own through what is known as Condominium Ownership –“Condominium” is a legal term used in the U.S and most Canadian provinces. In the US, the laws governing condominium development and ownership can vary from State to State. Nevertheless, it is universally understood to mean a development consisting of residential dwellings that are individually and wholly-owned.

Condominiums in Bermuda are typically owned as leasehold interests. At Bermudiana Beach the length of the lease is 999 years – “the leasehold equivalent of freehold”!

You will have to pay a monthly amount for maintenance, which covers the running of the general amenities (see points 4 and 5 below, plus a one-off payment that buys you ownership of the lease until you either sell it, or it expires.

Leasehold purchases generally occur in buildings that comprise more than one unit, such as blocks of condos/apartments. Alterations are limited in accordance with the head lease as well as other restrictions imposed by the landlord/owners committee. You will have some input on the condo rules and regulations as owners will be consulted via the AGM.

Leases can vary greatly in length. Most recent developments in Bermuda are sold with a 999-year lease.

As a leaseholder, you are in no way obligated to retain the lease. You can sell at any time.

As an overseas buyer you would normally need an Overseas Landholding License in order to buy a property in Bermuda.

As an overseas buyer you would normally need an Acquisition License (also known as a Landholding License) in order to buy a property in Bermuda.

But at Bermudiana Beach, owing to a specific Government legislation for Bermudiana Beach, this license fee is waived provided you put your condominium into the hotel rental program.

Based on the average price of the condos at Bermudiana Beach we estimate that this results in a saving to the buyer of approximately $50,000 compared to the purchase of a traditional condominium.

Section 3 of the Bermuda Immigration and Protection (Tourist Accommodation and Hotel Residences) Regulations 2010, allows owners the right to occupy tourism-designated property for a maximum period of 90 days in any given calendar year.

Bermudiana Beach’s condominiums are classified as hotel residences rather than as condominiums in a normal apartment building and therefore we have to comply with the above.

So, if you own at Bermudiana Beach, you, your family and your friends can use your condo for up to 90 days (3 months) each year.

You are limited to 30 day's usage in Bermudiana Beach's High Season (May through August).

Furthermore, you can't occupy your condo for more than 21 consecutive days in any calendar year.

Usage doesn't have to be on consecutive days and can be broken into as many vacations and short breaks as you like. 

The other 275 days, plus any days and weeks you don't use from your usage allocation, can be made available for rent through the rental program.

These controls are in place to maximise potential rental income for the owner and hotel management company alike.

The granting of a work permit is entirely separate from the issue of home ownership. You won’t be allowed automatic residence in Bermuda and renting out such property requires special permission from the Minister of Immigration.