There are 1,764 condominiums in Bermuda, not 17,764 as reported in yesterday's newspaper.

Government faces pressure to take the political plunge by easing curbs on selling condominiums to foreigners.

The controversial calls from housing experts come amid mounting concern at the great condos' glut.

One developer making the plea is Mr. Charles Newman, who oversees the giant Boaz Island complex in Sandys.

These properties come cheaper than those traditionally up for grabs to tourists.

Housing Minister the Hon. Quinton Edness has disclosed Government is probing the problem.

And a report -- complete with recommendations -- is being prepared by the Chamber of Commerce.

"We are looking at doing something to ease the problem, but nothing concrete has been planned,'' said Mr. Edness.

"We have discussed one or two ideas, but I can't reveal what they were.'' Some experts, however, have appealed to Government to tread very warily.

They said Bermudians' needs should always come first -- and condos could be the long-term answer.

Chairman of the Chamber of Commerce's real estate's division Mr. Thomas Moss strongly backed policy changes.

But argued throwing the door open to tourists is not the cure.

"We definitely, though, need some kind of review,'' he stressed.

Bermuda has reaped a bitter harvest from the late-1980s' home-building frenzy when the economy boomed.

Developers were caught out when the housing market nose-dived during the worst recession since the Second World War.

Latest figures show as many as 371 of the 17,764 condos are vacant.

The flight of expatriates following a clampdown on work permits has been blamed in part.

But, in addition, Bermudians reeling from an end to the good times were wary of splashing out.

However tempting, the prospect of a first rung on the homeowning ladder appeared a little pricey.

Condo building has now all but come to a crunching halt -- with several projects on hold.

Even during the boom years, Government severely restricted the number of condos available to non-Bermudians.

Each condo must have a Government-set minimum annual rental value of $15,300.

It means only the extremely well-heeled tourist can enter the market.

British businessman Lord White of Hull, who married long-time girlfriend Victoria Tucket in Bermuda last summer, recently plumped for exclusive St.

James Court at Flatts.

With a jacuzzi in every unit, $300 towel rails, illuminated closets, and a breathtaking water view, the condos are deemed among the best in Bermuda.

Non-Bermudian buyers are now limited to just 13 developments scattered around the Island. This amounts to about 460 condos.

One man urging Government to ring the changes is Mr. Newman, the developer of Boaz Island -- Bermuda's largest housing development.

Homes there are available just to Bermudians.

But managing director of Boaz Island Development Ltd. Mr. Newman said non-Bermudians constantly besieged him.

He declared: "Every day we get inquiries from tourists genuinely interested in purchasing here.

"I believe we have a good market out there which could be tapped.'' The ambitious Boaz Island project was launched in 1989, with the aim of building 108 two-storey townhomes.

Four six-storey apartment complexes with an extra 66 suites were also planned at the 12-acre site.

Construction has now ground to a standstill, with only 90 two-storey condos built.

Roughly 30 of them -- including those overlooking the sea -- have been snapped up.

Ten are unsold, and 54 remain homes to the Canadian forces.

That is until December 31 when the remainder of the forces will have left them.

Then, Government has declared, the condos will be put on to the market -- adding significantly to the over-supply.

First, however, a prickly problem needs to be sorted out.

Canada's Government forked out more than $11 million to the West End Development Corporation for a 32-year lease of the properties.

But with the Canadian base at Daniel's Head closing on May 1, Wedco will have to repay a hefty portion of the sum.

Bermuda and Canada have been locked in talks for months over compensation.

Mr. Newman is keeping his fingers crossed the matter will be resolved before the end of the year.

He hopes to get the condos on the market as soon as possible, believing they will be an attractive proposition.

And he is also hoping Government will heed the plea to relax restrictions on selling to non-Bermudians.

It is not a call to open the floodgates -- more allow in a modest trickle.

Said Mr. Newman: "I am adamant about it. I would definitely support selling a certain percentage to non-Bermudians.

"I feel there is a market out there, especially for condos in our price range.'' Prices start at $275,000 for a three-bedroom two bathroom townhouse.

Mr. Newman believed the condos' glut would solve itself naturally in three or four years.

With the economy mending, there were plenty of signs would-be homebuyers felt they had more money to spend.

But Mr. Newman was sure the process could be dramatically speeded up if tourists were allowed to play their part.

"I reckon the condominium market could be absorbed in two or three years. It would stimulate the economy.'' Mr. Bill Old, office manager at Somers Realty, agreed.

A partial lifting of the restrictions on non-Bermudians would pay dividends, he said.

"I have had some interest from tourists,'' he said.

Mr. Old explained developers had got hit after being drawn into the condo building craze of the late 1980s.

"They got caught in the slow-down.'' Mrs. Jean Pimm, owner of Coral Properties and agent of St. James Court, voiced caution, however.

She pointed out Bermuda's population was expected to jump eight percent by the year 2,000, with rising numbers of old folk.

This would increase demands on the housing stock.

And condominiums could be an answer to many Bermudians' dreams.

Mrs. Pimm said condos not only appealed to first-time buyers -- but also elderly folk who wanted to avoid the hassle of maintenance.

Condo maintenance fees -- from $150 to $500 -- cover landscaping, painting, and property insurance.

Added Mrs. Pimm: "We have to be very careful. We have only so much land in Bermuda, and have to have a delicate balance between foreign ownership and how much land we retain for Bermudians.'' Mr. Edness, while giving nothing away, said Government had toyed with various ideas to solve the problem.

"It is something we are aware of,'' he said.

Mr. Edness believed the reduction of up to 5,000 work permits over the years had worsened the dilemma.

He also underlined a sad irony.

While Bermuda brimmed with condos, another statistic had also risen.

That of those at their wits' end, trying to scavenge a living from social security.

BOAZ ISLAND -- Mr. Charles Newman, the developer of Boaz Island, said non-Bermudians constantly besieged him wanting to buy the west end condos.