Builder hopes car giveaway will 'Spark' interest

Sanz Pearman, owner of Overnight Construction, will hand over the keys to brand-new $20,000 plus Chevrolet Sparks to the buyers of the condos in Sandys.

Mr Pearman said the giveaway was inspired by similar deals available on new homes in the US.

He added: “I was overseas and looking at other developers — a lot of people are doing this kind of thing now. It’s all about marketing.

“It’s never been done before here — if you can’t learn from the US, you might as well give up.”

Mr Pearman said the property market in Bermuda remained “ticklish”, and banks requiring large deposits on new homes had slowed demand.

But he said: “Since I advertised the car deal, the phones haven’t stopped. They’ve been ringing off the hook.”

Mr Pearman explained that the days of 95 or even 100 per cent mortgages had gone, with banks now looking at a 25 per deposit before considering a loan.

He said: “Young people coming back from college and getting a good job can make the payments no problem — but saving up a very large deposit is difficult unless they get help from their families.”

Mr Pearman is selling two three-bedroom townhouses at The Gardens, Beulah Lane — the second phase of a development at the site.

Prices start at $865,000 and buyers can opt for a furniture package instead of a car.

The condos, which have sea views, feature an open plan kitchen, dining and living area, with tile and wood flooring as well as built-in air conditioning and balconies.

The two homes are available for inspection today (Friday) from 4pm to 6pm, on Saturday from 11am to 2pm and Sunday from 1pm to 3pm.

For more information, call 535-0141 or log on to www.onc.com.