Instead of heading for vacation or the beach, our rental and sales agents along with their respective renters and buyers alike are facing the heat and humidity of August happily searching out residences.Traditionally August tends to be a quieter month for the residential rental market, however this year Rego Realtors has experienced more interest for high-end properties.Primarily business executives upgrading and relocating to Bermuda have sought out properties $12,000/month and over.Ideally searching for residences appropriate for their family offering privacy, water views, ample parking and gardens or yard space in central parishes.The challenge for these high-end renters is the limited inventory with approximately 15 properties $12,000/month and over available currently in the market.Due to the limited high-end rental inventory, renters have expanded and modified their search criteria to include city apartments in Hamilton and Pembroke such as Rego Sotheby’s International Realty’s urban waterfront property on Pitts Bay Road at the newly constructed commercial and residential Waterloo House.The penthouse residential units start at $14,000/month for the two to three-bedroom duplex rental units set for occupancy October 1, 2013 with 2 of the 7 units under contract.Our agents attribute the increased activity to the recent influx of new families relocating to the Island from more new international companies setting-up operations locally and the increasing number of international businesses expanding their executive staff presence on-Island.Meanwhile, prospective tenants in the market for one- to -two bedroom residences have more choices.The market-wide inventory continues to increase in this sector as renters relocate to upgrade their residences or look to buy rather than continuing to rent given competitive home sale prices.Some units reflect price adjustments while others are further impacted by competing rental inventory.A perfect example of an opportunity to become a homeowner versus remaining a renter is with two-bedroom, two-bath Warwick condominium “Seacliffs” amidst expansive south shore views and swimming pool.It is priced at is $725,000.The offering includes 90% financing and for first-time homebuyers, no stamp duty fees apply.In this instance, a prospective buyer could have a mortgage payment almost on par with a monthly rental payment, yet the benefit of starting to build equity.Our agents are seeing majority of the condominium sales occurring up to $750,000 and the majority of stand-alone home sales for properties ranging up to $1,500,000.In 2013, the biggest boost in stand-alone homes sales has occurred so far in the $1,000,000 to $1,500,000 range.• For more information and assistance with all your real estate needs, please refer to this article and ask to speak to one of our Rego Realtors rental agents or sales associates at Rego Sotheby’s International Realty; contact telephone number 441.292.3921.