BER · beta · 35% coverage
Bermuda
Bermuda enters the atlas as a case-study market centred on the Bacardi on the Rocks estate in Smith's Parish. ValueAtlas has built a peer-property, sale-history, cap-rate and policy dashboard around the Astra High Model 6 analysis, with a NO BUY verdict at the $5.85M ask.
Key figures
- 2025 average home (closed)
- $1.00M
- 2011–2025 closed CAGR
- -1.27%
- 2024 registered sales
- 204
- Verdict at $5.85M ask
- NO BUY
Signals the model weights highest in Smith's Parish, Bermuda
- Non-Bermudian licence fee, progressive conveyance duty and ARV-driven land tax
- Official tourism arrivals, registered transaction counts and stamp-duty outturns
- Work-permit policy, EIRC investment flows and residency-rule changes
- Canadian-US tax asymmetry and its effect on high-net-worth demand
Closed sales · brokerage year-end averages of registered closings
What Bermuda property actually closed at, 2010 to 2025
Bermuda publishes no register of closed sale prices and no house-price index. The prices below are the year-end averages that Coldwell Banker Bermuda and Rego Sotheby’s printed for sales already recorded in Government registry data, with every source attached. The general-market record runs from $1.20M in 2011 to $1.00M in 2025 — -1.26% a year over 14 years, and -18.7% against the 2015 peak of $1.23M.
- 2025 average home
- $1.00M
- 2011–2025 CAGR
- -1.26%
- 2024 registered sales
- 300
- -33.3% vs 450 balanced
- Vs 2001 peak volume
- -53.8%
- 650 sales that year
Printed general-market average, reported rows only
- 2011$1.20M
- 2012$1.10M
- 2013$1.10M
- 2014$1.10M
- 2015$1.23M
- 2016$1.21M
- 2021$1.02M
- 2025$1.00M
Live price band on the $5.85M subject ask
11 September 2026 entry → 11 September 2036 exit, Astra’s own dated horizon.
Midpoint of the printed record and Astra's own cases. Measured record CAGR -1.26%; Astra base +2.0%.
bear
$4.48M
-2.63% / yr · -23.4% total
base
$6.07M
+0.37% / yr · +3.7% total
bull
$7.39M
+2.37% / yr · +26.4% total
These are unweighted stress cases, not probabilities. None of them clears a 7% compounded hurdle, which is why the case study carries a NO BUY verdict at the ask.
Every printed price point
| Year | Segment | Average close | Basis | Source |
|---|---|---|---|---|
| 2025 | Mainstream | $1.00M | reported | Coldwell Banker Bermuda (Susan Thompson), Royal Gazette, May 2025"Bermuda's residential real estate market continues to hover around an average home price of $1 million." Single-family sweet spot $1.05M–$2.5M; condos $500K–$850K+. |
| 2021 | Condominium (entry) | $322,000 | reported | Rego SIR, Bermuda Real Estate Market 2021 ReviewCondominiums under ARV $25,800, +30% on 2020. |
| 2021 | Land | $1.00M | reported | Rego SIR, Bermuda Real Estate Market 2021 ReviewLifted above $1M from $331,000 in 2020 by the Riddell's Bay estate lots — a one-off mix shift, not a market-wide trebling. |
| 2021 | Luxury | $6.00M | reported | Rego SIR, Bermuda Real Estate Market 2021 ReviewLuxury residential average in the strongest year on record for the segment — the same $6M level printed for 2012. Nine years, no luxury appreciation. |
| 2021 | Mainstream | $1.02M | reported | Rego SIR, Bermuda Real Estate Market 2021 ReviewNon-luxury residential average sale price, +17% on 2020 — the pandemic-era peak of the mainstream market. |
| 2020 | Condominium (entry) | $248,000 | derived | Derived from Rego SIR 2021 review (+30% to $322,000) |
| 2020 | Land | $331,000 | reported | Rego SIR, Bermuda Real Estate Market 2021 Review |
| 2020 | Mainstream | $874,000 | derived | Derived from Rego SIR 2021 review (+17% to $1,023,000)Rego SIR printed the 2021 average and the year-over-year change; the 2020 level is the arithmetic implication, not a separately printed figure. |
| 2017 | Condominium | $650,000 | reported | Coldwell Banker Bermuda Realty, Sales Market Update Jan 2018"The average price of condominiums sold in 2017 continued to decrease to around $650,000." Condominiums were 26% of closed sales and about 40% of buyers paid cash. |
| 2016 | Condominium | $681,000 | reported | Coldwell Banker Bermuda Realty, Jan 2017 market update |
| 2016 | Land | $366,000 | reported | Coldwell Banker Bermuda Realty, Jan 2017 market update |
| 2016 | Single-family | $1.21M | reported | Coldwell Banker Bermuda Realty, Jan 2017 market updateFull-year average of sold single-family dwellings registered in Government records. |
| 2015 | Condominium | $590,000 | reported | Coldwell Banker Bermuda Realty, Jul 2015 sales update |
| 2015 | Single-family | $1.23M | reported | Coldwell Banker Bermuda Realty, Jul 2015 sales updateAverage of single-family homes sold and registered in Government records; single-family was 28% of sales. |
| 2014 | Mainstream | $1.10M | reported | Coldwell Banker Bermuda Realty 2014 Market Report (Jan 2015)Same $1.1M island-wide average, on registered sales; single-family rose to 40% of transactions from 26% in 2013, and Warwick led the parish table. |
| 2013 | Mainstream | $1.10M | reported | Coldwell Banker Bermuda Realty 2014 Market Report (Jan 2015)"Average property prices have maintained consistency when compared over the last two years with the average hovering around $1,100,000." Pembroke and Paget led 2013. |
| 2012 | Condominium | $650,000 | reported | Coldwell Banker Bermuda Realty, Sales Market Update Jul 2013Island-wide calendar-2012 condominium average, which the firm called comparable to 2003–04 prices. |
| 2012 | Condominium (entry) | $387,000 | reported | Rego SIR 2012 figures, Royal Gazette (Jan 2013)Condominiums under $32,400 ARV, down from about $670,000 in 2008 — a 42% peak-to-trough fall in the entry segment. |
| 2012 | Land | $500,000 | reported | Coldwell Banker Bermuda Realty, Sales Market Update Jul 2013Island-wide 2012 land average, described as close to 2004 levels. |
| 2012 | Luxury | $6.00M | reported | Rego SIR 2012 figures, Royal Gazette (Jan 2013)Luxury average rose from about $5M in 2008 to about $6M in 2012, median $4.1M to $4.8M — on seven closed luxury sales to non-Bermudians, against 17 in 2008. Price held; liquidity did not. |
| 2012 | Single-family | $1.10M | reported | Rego SIR 2012 figures, Royal Gazette (Jan 2013)Homes under $153,000 ARV: average about $1.1M, median about $940,000, against $1.25M average and $1.15M median in 2008. The cycle low. |
| 2011 | Condominium | $473,000 | reported | Rego SIR 2011 figures, Royal Gazette (Jan 2012)Condominiums under $32,400 ARV, down 16% on 2010 on just 18 recorded sales. |
| 2011 | Single-family | $1.20M | reported | Rego SIR 2011 figures, Royal Gazette (Jan 2012)Homes under $153,000 ARV: "just under $1.2 million", down 6% on 2010, on 66 recorded sales — a 38% volume collapse. |
| 2010 | Condominium | $563,000 | derived | Rego SIR 2011 figures, Royal Gazette (Jan 2012)Implied by the printed 2011 average of $473,000 and the printed 16% year-over-year fall. |
| 2010 | Single-family | $1.27M | derived | Rego SIR 2011 figures, Royal Gazette (Jan 2012)Rego SIR printed the 2011 average for homes under $153,000 ARV as "just under $1.2 million" after a 6% fall from 2010; the 2010 level is the arithmetic implication of that printed change, not a separately printed figure. |
Registered transaction counts
| Year | Recorded | Firm estimate | Source |
|---|---|---|---|
| 2010 | — | 292 | Coldwell Banker Bermuda Realty, Jun 2011 update |
| 2012 | — | 200 | Coldwell Banker Bermuda Realty, Sales Market Update Jul 2013 |
| 2015 | — | 300 | Coldwell Banker Bermuda Realty, Jul 2016 update |
| 2016 | 218 | 300 | Coldwell Banker Bermuda Realty, Jan 2017 update |
| 2019 | — | 200 | Coldwell Banker Bermuda Realty, Jan 2020 update |
| 2024 | 204 | 300 | Coldwell Banker Bermuda, Royal Gazette, May 2025 |
What this data cannot tell you
- Bermuda publishes no register of closed sale prices and no house-price index. Every price on this page is a brokerage year-end average of registered closings, not a government statistic.
- Averages are unweighted and mix-sensitive: the 2021 land average trebled purely because the Riddell's Bay estate lots closed that year, and 2014's single-family share jumped from 26% to 40% of sales.
- Registry lag runs six months to two years, so a year's recorded count is always below the eventual total. Where a firm printed both, this page shows both.
- Coverage is uneven. 2018, 2019, 2022, 2023 and 2024 have printed volumes or commentary but no printed island-wide average sale price, so those years carry no price point here.
- Segment definitions changed: Rego SIR reported by ARV band (under $153,000 ARV homes, under $32,400 ARV condos) while Coldwell Banker reported by property type. They are not perfectly splice-able.
- Only mainstream and single-family rows feed the growth rate below. Luxury has two printed points nine years apart and cannot support a trend.
Sources
- Royal Gazette · "Properties taking one year or longer to sell as prices tumble" (Jan 2012)
- Royal Gazette · "Realtor: average condo price falls to around $387,000" (Jan 2013)
- Coldwell Banker Bermuda Realty · Sales Market Update, Jul 2013 (2012 averages)
- Coldwell Banker Bermuda Realty · 2014 Market Report (2013–14 averages, parish mix)
- Coldwell Banker Bermuda Realty · Jan 2017 market update (2016 averages, registry lag)
- Coldwell Banker Bermuda Realty · Sales Market Update, Jan 2018 (2017 condo average)
- Coldwell Banker Bermuda Realty · Jan 2020 update (2019 volumes, 470+ days on market)
- Rego SIR · Bermuda Real Estate Market 2021 Review
- Royal Gazette · "Cost of average Bermuda home is $1m" (May 2025)
Full Bermuda sale-history page · Price history and forecast band · Price-per-square-foot dashboard