Well it seems that the number of rentals were up 18% last year over 2008 but the average price per unit went down 15% . Bad news for landlords as property maintenance fees etc. continue to rise.
Fewer properties were rented at over $9000 per month and properties remained on the market longer.
Coldwell Banker Bermuda Realty reported that based on 2009 figures, the average price for 1, 2 and 3 bedroom properties was as follows:
1BR @ $2,378
2BR @ $3,576
3BR @$5,514
Obviously prices vary according to location and amenities based on supply and demand. Looking on the various websites at present there seems to be a lot of inventory out there - particularly in studios and 1 bedrooms which are usually very hard to come by at a reasonable price.
To read more about the rental market in the Coldwell Banker January Newsletter in its entirety click here
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