Bank of Bermuda HSBC and three of the Island?s largest realties met with prospective home-owners at a special seminar in Hamilton last night.

The aim of the seminar, entitled ?How to own a piece of the rock ? traditional living versus condo living? was to change people?s mindset about owning a condominium and seeing it as the first step into the market.

Frederica Forth, Senior Sales and Service Manger for the Bank of Bermuda HSBC, said traditional homes in Bermuda are expensive and with an average price of about $1.2 million, condominiums were not only cheaper, but it was one way for Bermudians to get their foot in the door.

?The equity and property accumulates quite quickly and in a year or two they could build up sufficient equity to buy a traditional home if that?s the way they want to go,? she said.

But the seminar was not just aimed at time-owners, but also retirees, widows and widowers living alone.

?It?s safer, low maintenance and this might be something they would want to consider,? she said.

Ms Forth said she believed condominiums could alleviate the housing crisis in Bermuda.

?You have the seniors who are living in the big homes who can free those homes up by going into the condominium market including freehold properties which will be available on the market soon,? she said.

She added with the limited amount of land available to build traditional homes, condominiums also solved this problem.

Representatives from Coldwell Banker Bermuda Realty, Property Group and Rego Realtors manned display booths and answered questions concerning ownership, maintenance fees and costs.

Photographs and information about various condominiums currently available on the market were also displayed and attracted the most attention.