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Bermuda · peer set

Bermuda luxury property, measured per square foot.

Price per square foot is the first comparison, not a footnote. These advertised ratios show where Bacardi sits against Astra’s Bermuda luxury peer set, followed by rent, duty, licence fees and legal position. They are asking-price ratios, not verified closed-sale evidence.

The square-foot benchmark

Bacardi on the Rocks
$1,068/sq ft
$5.85M ask · 5,478 advertised sq ft
Walsingham
$779/sq ft
Bacardi asks 37.2% more per advertised sq ft
Glebe House
$915/sq ft
Bacardi asks 16.8% more per advertised sq ft
Area sensitivity
$1,256/sq ft
If measured area is 15% below the advertised total

Every peer, ranked by price per square foot

The default ranking puts the most comparable valuation metric first. All-in cost then adds progressive conveyance duty, the category-specific land-holding charge and your legal-fee setting. Tap any row for its area and legal qualifications.

Bermuda conveyancing is customarily quoted as a percentage of price and is negotiable. Astra's model used roughly 0.5% for the sale side; move the slider to test your own quote.

Legal position. ARV $138,000, above the $126,000 restricted-person floor, so a non-Bermudian may apply for a licence to acquire. 12.5% land-holding charge. Letting the cottage needs Ministerial permission.

Land-holding charge. Non-Bermudian · residential valuation unit — 12.5%. Any restricted person other than a spouse, child or parent of a Bermudian, or a permanent resident, acquiring a residential valuation unit that is not a condominium: 12.5% after expiry of the statutory period (8% during it).

Price basis. Asking price on the listing sheet supplied by the vendor's agent.

Rent basis. Astra's avoided-rent assumption for an equivalent luxury house. Not an asking rent for this property.

Source · Vendor listing sheet (PDF, supplied)

What the peer set actually says

The subject carries a visible PSF premium

Bacardi asks $1,068 per advertised square foot, 37.2% above Walsingham at $779 and 16.8% above Glebe House at $915. The premium is not validated by a matched closed sale.

The 12.5% charge is the real price

On the subject, the land-holding charge alone is $731,250 — more than the entire duty bill, and unrecoverable on resale. The Paget hotel at $5.00M carries $0 on hotel-inventory election. Same money, $731,250 difference in dead cost.

Renting the better house is cheaper

A superior five-bed on 1.325 acres with a dock and tennis court is asking $25,000 a month, with no licence, no duty and no charge. That is $300,000 a year against $7.00M of capital committed before the first repair bill.

None of this contradicts the appreciation work — it corroborates it. The peer set says the same thing the transacted price record and the Astra assessment say: this is a desirable house at a price the surrounding evidence does not support, and the statutory entry cost makes the gap wider rather than narrower. Eligibility is the one point in the subject's favour: at an ARV of $138,000 it clears the $126,000 restricted-person floor, which several of these peers may not.

What this comparison cannot tell you

  • Asking prices are asks. Bermuda has no public sold-price register, so none of these figures is evidence of what a buyer paid.
  • Walsingham is a reduced ask, which is information about the ceiling of the market, not about its clearing level.
  • Shoreby House's USD figure is converted from a Canadian-dollar listing page and moves with the exchange rate.
  • ARV is published per valuation unit but is not printed on listings. Only the subject's ARV ($138,000) is known here, so restricted-person eligibility for the peers is marked unverified.
  • Only two rents in this set are printed anywhere: the $25,000 Soundwinds ask and the $18,000 Astra assumption. Neither is a market median.
  • Land-holding-charge categories are read off the Schedule to the 2007 Regulations. A licence application is decided case by case; confirm with Bermuda counsel.

Sources

The verdict on this house →Transacted price record →Purchase checklist →