How to own a piece of the rock will be the question posed at the Bank of Bermuda's seminar held at the Fairmont Hamilton Princess next week.

The event, which is being staged in the Harbourview Ballroom on Tuesday, April 15, will show Bermudians how they can get into the real estate market, with speakers including bankers, real estate agents, mortgage advisers and lawyers on hand to offer advice.

Frederica Forth, senior business development manager at the Bank of Bermuda, Susan Thompson, agency manager at Coldwell Banker Bermuda Realty, Rego Sotheby's International Realty's vice-president of sales and professional development Mary-Claire Havas, Property Group Ltd.'s managing director Cris Valdes-Dapena, and Francesca Fox, an attorney at Conyers Dill & Pearman, will be telling everyone from first-time buyers to those simply looking for a good investment how they can make their dreams become a reality.

Among the topics up for discussion are traditional versus condo living, the difference between leasehold and freehold properties, the available inventory in the market, what buyers are looking for, how to be a confident buyer, and how to finance the purchase. The main thing is about changing people's perception of the cost of property in Bermuda, according to Ms Forth.

"The average price of property in Bermuda is $1.5 million, but that is not the cost of every home," she said.

"In fact there is some low-cost housing available at $450,000 and condominiums at less than $700,000.

"Some people think that owning a piece of the rock is beyond their reach, so this is really just to educate them that there are properties out there that cost less than that.

"There are creative ways we can assist them in owning that property they want and show them how they can shift their way of thinking — if they truly want to own a piece of the rock they really can." There are a number of ways in which this can be achieved according to Ms Forth, ranging from family or friends coming together to reduce the cost of buying a property, renting the property out to pay the mortgage and 100-percent financing for first-timers.

The bank, which has hosted several seminars on investing in properties both on the Island and overseas, with 250 people turning up to the previous one in 2006, will focus on financing the purchase of the property and how the process can be made easier, as well as how it fits in with the overall scheme of buying real estate, from getting a mortgage approved to house hunting and even moving in, according to Ms Forth.

"We have had several of these workshops over the last few years, which have proved popular — we believe in educating Bermudians and keeping the community abreast of what is happening and about what we have to offer," she said. "For example, it seems like Bermudians are getting into the condo market more than they have over the past few years.

"It is just a matter of telling them what is available and what these condos have to offer. It is about making them comfortable when they come to purchase real estate."

Information booths will be manned at the event from 5.30 p.m. to 6 p.m. and the seminar will follow between 6 p.m. and 8 p.m., with parking available at The Waterfront, 90 Pitts Bay Road from 5 p.m. to 8.30 p.m. To book a place at the seminar, contact 299-6224 by Friday, April 11.