Bermuda · buyer profile
Bermuda publishes no net-worth series and no count of high-net-worth residents. What it does publish is a household income distribution by parish, a workforce composition by nationality, and cumulative investment-certificate flows. This page uses those, labels every proxy, and marks the parish outlook as what it is: a ValueAtlas judgement, not an official statistic.
The demand base
Narrowing at the top, widening at the permit level. Bermuda's resident affluent base is not visibly growing; its imported, permit-holding, rent-paying professional base is.
households at $350K+ income, island-wide (2016 Census, out of 28,192)
change in median household income, 2010 → 2016
work-permit-type job holders, 2022 → 2023
That split is the whole investment story. Demand growth is arriving as tenants on time-limited permits, not as buyers who can absorb a 12.5% licence fee. It is consistent with the flat price path used in the Bacardi on the Rocks verdict, not with a re-rating.
Every row below is quoted from the cited publication. Where Bermuda publishes nothing direct, the closest official series is shown and labelled a proxy.
| Indicator | From | To | Change | Basis |
|---|---|---|---|---|
Resident population No census has been published since 2016, so there is no current official population count. Source | 2010 Census 64,237 | 2016 Census 63,779 | -0.7% | Official |
Median annual household gross income Households in the top band ($144,000 and over) fell 4 percentage points, from 34% to 30%. Source | 2010 $103,657 | 2016 $93,713 | -9.6% | Official |
Filled jobs (all sectors) Employment Survey. The recent jobs recovery is real but small in absolute terms. Source | 2022 31,914 | 2023 32,866 | +3.0% | Official |
Non-Bermudian job holders The imported-labour share of the workforce rose 2 percentage points in one year. Source | 2022 9,684 (30%) | 2023 10,515 (32%) | +8.6% | Official |
Work-permit-type holders ("other non-Bermudians") Closest official proxy for the permit-holding tenant pool. Not a count of HNW individuals. Source | 2022 7,311 | 2023 8,127 | +11.2% | Proxy |
International Business Activity jobs The sector that generates most high-income housing demand on the island. Source | 2022 4,694 | 2023 4,927 | +5.0% | Official |
Financial & Insurance Activities jobs Effectively flat. Reinsurance headcount is not expanding on-island. Source | 2022 1,935 | 2023 1,938 | +0.2% | Official |
EIRC cumulative qualifying investment Government-reported cumulative total ($425M at Jun 2023). No annual certificate count is published. Source | Jul 2022 $349.6M | Dec 2025 $600M+ | +71.6% | Official |
Median gross annual income, main job Labour Force Survey. Shown for context: the local median earner is far below the luxury market. Source | — — | Nov 2022 $65,725 | — | Official |
Coverage gap. There is no official Bermuda series for resident net worth, no census after 2016, and no published annual count of EIRC or PRC certificates issued. Any figure claiming to count Bermuda's HNW population is an estimate by whoever published it.
4,927 International Business Activity jobs in 2023, up 5% on 2022. Financial and Insurance Activities headcount was effectively flat at 1,938. These are the households that can carry a seven-figure home — and their number is stable, not compounding.
SourceNon-Bermudian job holders rose from 9,684 to 10,515 in a single year, with permit-type holders up 11%. Permits are renewable but finite, which is why this cohort overwhelmingly rents rather than paying an irrecoverable licence fee.
SourceCumulative qualifying investment passed $600M by December 2025, from $349.6M in July 2022. This is the one genuinely growing channel of buyer-side capital — but the government reports dollars, not people, so throughput is unobservable.
SourceTenure, rent and dwelling counts: 2016 Population and Housing Census, Tables 5, 13.5. Source
Household counts, income medians and dwelling counts are quoted from the 2016 Census. The forecast column is not. Bermuda publishes no parish-level wealth series after 2016, so the YoY figures are ValueAtlas scenario judgements for 2026–2031, anchored to the same +2% nominal base case used in the Bermuda case study.
| Parish | Median hh income | $350K+ hh | Share | $750K+ hh | Owner / rented | 3+ bath units | Modelled YoY |
|---|---|---|---|---|---|---|---|
Paget Highest median household income and the largest $750K+ household count on the island. Minutes from Hamilton, deep expatriate rental market, almost no developable land left. | $111,908 | 289 | 10.9% | 74 | 1,212 / 1,132 | 361 | +3.1% |
Smith's The largest stock of three-plus bathroom homes of any parish and the second-highest median income. Home of the subject listing. Estate-scale lots, low turnover. | $110,133 | 247 | 9.6% | 63 | 1,302 / 1,160 | 399 | +2.9% |
Hamilton Parish Tucker's Point / Castle Harbour resort residences give it the clearest institutional luxury cluster, but delivery depends on hotel investment that is not yet built. | $99,435 | 153 | 6.3% | 43 | 1,172 / 1,108 | 277 | +2.4% |
Warwick Broad, deep mid-to-upper market with south-shore beach frontage. Gains population share (+1pt 2010–2016) but the affluent tail is thinner than Paget or Smith's. | $94,787 | 201 | 5.0% | 36 | 1,931 / 1,886 | 374 | +2.0% |
Southampton Resort-led. Upside is real if hotel and branded-residence pipelines complete, which is exactly the catalyst risk the Astra assessment refuses to pre-credit. | $91,163 | 138 | 4.6% | 21 | 1,312 / 1,396 | 300 | +1.8% |
Pembroke Largest parish and the island's rental engine — 2,726 units rented for cash, more than any other parish. Volume, not price: the lowest median income of the central parishes. | $85,075 | 227 | 4.4% | 58 | 2,069 / 2,726 | 378 | +1.6% |
Devonshire Central, green and family-oriented, but limited waterfront and only 217 large homes. Owner-occupier parish rather than an HNW destination. | $92,943 | 126 | 4.2% | 28 | 1,502 / 1,375 | 217 | +1.3% |
St. George's Lost population share (−1pt) and has the second-lowest affluent count. Any re-rating is contingent on the St. George's hotel and airport-adjacent development actually delivering. | $84,247 | 84 | 3.4% | 23 | 1,236 / 996 | 178 | +0.9% |
Sandys Fewest affluent households (66) and only 14 in the top band, plus the largest population-share loss. Commute distance to Hamilton is the binding constraint. | $86,122 | 66 | 2.2% | 14 | 1,531 / 1,227 | 221 | +0.6% |
| Island total | $93,713 | 1531 | 5.4% | 360 | 13,267 / 13,006 | 2,705 | — |
Even the top-ranked parish is modelled at roughly 3% annual growth in its affluent household base. That is demand drifting, not demand inflecting — and it is why nothing on this page changes the case-study conclusion.
Immigration, work-permit and tax levers, with a scenario-adjusted 2036 price and the BUY / NO BUY verdict.
Legal steps, licence fees, closing costs and the due diligence a Bermuda acquisition actually requires.
Full model output for individual sub-markets, including Marina Vallarta.