Belize is distinctly Caribbean. The beaches are soft and the palm trees move in the gentle breeze. And the aquamarine waters are so clear you can see the coral below. The “Mother Nature’s Best Kept Secret” of Belize is a true naturalist’s paradise. The tiny country of Belize real estate offers a lot of diversity within its borders. It is the dive and snorkeling capital in the western hemisphere, and also has incredible old-growth rain forests and rushing rivers. There are also intricate cave systems, ancient Mayan pyramids, and majestic mountains. It is also the only democracy in Central America that speaks English and offers a comprehensive tax incentive program for property investors.
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It’s Time To Select Belize Real Estate
Belize is a popular tourist destination right now, which bodes well for investors who get a foothold. The only country in Central America to have seen steady increases in tourist arrivals, even after the 9/11 attacks, is Belize. Between 2003 and 2004, cruise visits to Belize increased by more than 50%. Commentators predict that this small tropical paradise will soon be Cancun and Costa Maya. The market for Belize property will boom as tourism growth rates outpace other regions in the region. Real estate dollars tend to follow leisure and tourist dollars.
Belize real estate is a relatively unknown market. It’s a small country so it has been largely unnoticed. However, the word is spreading and you can make a claim. As the early risks were taken, the opportunities are now evident. The demographics are poised for growth, as baby boomers turn 50 at a rate between three and four million per year.
A Unique Combination Of Affordable Properties
Time Magazine reported recently that “Many of the 76 Million American Boomers are more likely to retire to a foreign country than their parents because they have traveled more and have higher hopes for retirement. They also tend to be more active, adventurous, and more optimistic.” The Baby Boomers are now looking beyond Florida and the south to Mexico, Belize, and Costa Rica. Belize is unique because it offers a unique combination of affordable properties and top-notch amenities, not to mention the best retiree benefits package in Central America.
What Do Real Estate Investors Buy?
While the vacant property is a significant part of Belize’s real estate sales, there has been a rise in the number of turnkey products available for sale in recent years. Condominium units in Ambergris Caye are a prime example of this trend. A 24-month increase in sales and construction has been evident and continues to accelerate. The real estate market is changing as end users become more sophisticated and demand a better standard of real estate. We are seeing an increase in brand offerings, franchise products in different areas; amenity-based products; products that are ecologically sound (“ecosell”), and technology-supported real estate which ensures full connectivity to the internet.
Turnkey products in Belize are more appealing than raw land parcels because they offer rental income and the possibility of living in a condo unit. They also enjoy the rich cultural heritage. Real estate investors also find Belize more affordable than condos and turnkey homes in North America, Canada, and Europe. Turnkey products in tourist areas are particularly well connected to tourism.
One Of The Strongest Emerging Markets To Invest In
Belize is a stable democracy with steady increases in tourist arrivals from 1998 to present a strong emerging market for investors. It also boasts miles of sandy beaches, the largest barrier reef in the Western hemisphere, and a currency pegged at the US dollar. Real estate investors are attracted to Belize’s potential capital appreciation by the “New Caribbean”. Foreign investment is not prohibited in Belize. Belize, a member country of the British Commonwealth has a legal system that is based on British law. It is also the only Central American country with English as its official language. Belize also has no inheritance or capital gains taxes, and an expanding private offshore banking sector. You can see the future of Belize with little imagination.
