January 2017

Luxury Home Market UpdateBy Brian E. Madeiros, B.Sc., M.R.I.C.S.

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COLDWELL BANKER BERMUDA REALTYAtlantic House 11 Par-La-Ville Rd P.O. Box 1886 Hamilton Bermuda HM HX

441.292.1793

Each Office is Independently Owned And Operated. Coldwell Banker Bermuda Realty is a trade name of Bermuda Realty Company Limited

Coldwell Banker Caroline Bay was pleased to announce the o�cial opening of their o�ce and the Ritz Carlton Reserve Residences Sales Gallery at Caroline Bay, Bermuda on 17th January 2017. Mr John Hearns of The Ritz Carlton Hotel Company attended the ceremony along with government delegates. The resort developers announced the �rst phase of the luxury development, featuring a Ritz Carlton Reserve hotel, a superyacht marina and The Cove, a Ritz Carlton Reserve Residence. The Cove is 35 residences comprising 2 and 3 bedroom whole ownership condominiums and �ve stunningly designed and positioned penthouse properties. The residences will feature either plunge pools or outdoor kitchens for entertaining, and have extensive outdoor terraces. Owners will have the option of purchasing a berth at Caroline Bay Marina, Bermuda’s newest superyacht marina. Caroline Bay, Bermuda homeowners will enjoy exclusive privileges at the neighboring Ritz Carlton Reserve resort, an ultra-luxury resort and only the �fth Reserve hotel in the world.

Coldwell Banker is proud to have been appointed by the resort developers as the agents for Bermuda’s most spectacular waterfront luxury development and considers it a privilege to introduce this luxurious sanctuary to interested buyers. For your personal introduction to The Cove at Caroline Bay, Bermuda, contact a Coldwell Banker agent who will schedule a viewing appointment.

Global is the Difference

Ritz-Carlton Reserve Residencesat Caroline Bay, Bermuda

A New Era of Luxury Hospitality

January 2017

w w w . b e r m u d a r e a l t y . c o m

COLDWELL BANKER BERMUDA REALTYAtlantic House 11 Par-La-Ville Rd P.O. Box 1886 Hamilton Bermuda HM HX

441.292.1793

Each Office is Independently Owned And Operated. Coldwell Banker Bermuda Realty is a trade name of Bermuda Realty Company Limited

Market Update

Coldwell Banker. Global is the Difference.

Global is the Difference

For decades, Coldwell Banker has been designing bespoke marketing strategies for their Bermuda clients, which involve both local and international exposure initiatives. When conducting pre-listing due diligence, we recommend that sellers of luxury homes ask potential agents about their global market exposure. We don’t think it is good enough to respond to this question by only providing a list of initiatives, properties or whether they be media or web-based. We would suggest you quantify the actual impact as it relates to authentic market exposure and potential international buyers. Coldwell Banker’s web-based marketing strategy, which includes a multitude of online portals,

introduces your exceptional home to over 130 million unique visitors every month, culminating in close to 2 billion hits every year. Using print media, a well-placed advertisement will expose your luxury home to over 300,000 magazine subscribers in over 80 countries. Coldwell Banker has registered around 25 million views on their YouTube channel. If you are interested in exploring how our global marketing strategy can bene�t you please give your Coldwell Banker agent a call.

Discover what “Coldwell Banker – Global is the Di�erence” really means.

The latter part of 2016 ended on a high note as our Coldwell Banker agents reported a notable increase in the frequency of multiple o�ers and gazumping up to $1.8M. If a property is priced correctly and fully exposed to the market, sellers can expect to receive sales proceeds within 3 months. We are also pleased to report our agents have seen an increase in the volume of sales of luxury homes and our team has either sold or formalized sale and purchase agreements of four large luxury homes ranging in price from $2.9m to $7M in the last quarter of 2016. We anticipate that this demand will continue as we evolve into what will be a very exciting year for Bermuda. If you are interested in learning more about this segment of the market and wish to arrange a consultation, please contact us.