ILS start-ups fuel demand for office space on Bermuda

Bermuda’s real estate market growth is being partially fuelled by insurance-linked security (ILS) start-ups arriving on the island, according to the latest real estate report from realtors Coldwell Banker Bermuda Realty.

The report said that there was a general movement to quality office space, with the majority of demand being in the western part of Hamilton/Pembroke.

The report also said that the bene­fit of the approaching America’s Cup has been tangible in Bermuda, particularly tied to an increased disposable income and exposure of Bermuda for longer term growth.

However, the real estate agent added that: “Demonstrations and political unrest throughout the 2016 calendar year have caused some potential purchasers (both Bermudian and Non Bermudians) to reconsider their desire to make such a huge ­financial investment in Bermuda.”