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An Analysis of the Belize Property Market 30-Jun-2017

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 Belize is a small Central American country that has been popular overseas property destination for many decades now. Expats and retirees from North America and Europe have sought to buy property in Belize online for years now.

This tiny nation is a tourist haven, with a beautiful natural landscape and an open and diverse culture. English is the official language in Belize and the culture here is distinctly Western.

 It was since the early 2000s that the true potential of Belize as an overseas property destination was recognized. This was also the time the nation became well known as a famous tourist spot.

Since then, property prices have boomed in Belize, going up by double digits every year. Sure, the markets here fell to a great extent following the global economic crisis of 2008, but have largely recovered since then. Prices have risen steadily in recent years with fast rising demand from overseas investors.

 Belize has a lot going for it. It has been covered breathlessly by the Western media. The New York Times has been one of the biggest advocates Belize, and has encouraged several people to buy property in Belize online through glossy news reports.

 Famous Hollywood celebrity Leonardo Dicaprio plans to build an eco-resort in Belize on Blackadore Caye, which is a former pirate hideout located to the West of Ambergris Caye.  

Apart from DiCaprio, many Hollywood stars have purchased properties in Belize such as Beyonce, Harrison Ford and Slash. World famous professional athletes such as NBA star Kareem Abdul-Jabbar have looked for real estate opportunities here.

Other celebrities who have bought properties here include critically acclaimed director, Francis Ford Coppola, who has built two eco-friendly resorts here. The Lead Singer of the Heavy Metal group Twister Sister, Dee Snyder, has bought a property in the picturesque region of Placencia Peninsula in Belize.

You can make a lot of money if you were to sell your property in Belize fast because of the massive overseas interest in the country. The most popular places to buy holiday homes in Belize are Placencia Peninsula, Xtan Ha on North Amerbris Caye and Mahogany Bay on Southern Ambergris Caye.

Michel Chebat, a real estate lawyer in Belize City says, “Ambergris Caye and southern Belize — Placencia — continue to be the popular areas” for foreigners looking for holiday homes here.

What also helps is the Belize is well connected by flight with many cities in the United States such as Los Angeles and Houston as well as to Panama City, Panama. Because of the excellent connectivity from Los Angeles, many foreign tourists from as far as Southeast Asia have been able to make their way to Belize. Air Canada has also started flights from Toronto to Belize.

 There are many top real estate developers who are closely involved with the property market in Belize such as Sotheby’s International Realty and Christie’s International Real Estate. An average condo here costs between $350,000 and $450,000, which is very reasonable indeed.