Belize is known for the retirement market and second homes for retired personnel. It is a small country with just 3,20,000 residents. The major customers for this market are retired Canadians and Americans who are ready to relocate to Belize. The popular areas seeing the most attraction from customers are Ambergris Caye and southern Belize — Placencia. A typical ocean front house in Ambergris Caye having anywhere between two to four bedrooms costs $1million, making it the most expensive locality in Belize in terms of real estate prices. Also, a typical oceanfront condominium in Ambergris Caye costs around half a million. Placencia real estate is also getting attention from the foreign buyers; Placencia is a beautiful curved peninsula in the Caribbean sea, South Belize. The prices in South Belize are almost 40% less than that in Ambergris Caye.
Another developing area for second home buyers is Hopkins. Some foreign buyers also prefer to build the home for themselves. The cost of building a home in South Belize is approximate $100 to $175 per square foot, depending upon the material hardwoods, flooring, and tiles etc. used.
The target audience for buying property in Belize, or relocating to Belize are people from the United States and Canada. British buyers are also common as Belize is a former British colony with the first language of the country being English. Lately, Italian and Russian buyers have also started showing interest in properties in Belize. It is advised for foreign buyers to hire a lawyer for acquiring land or property in Belize, as one would not be entirely familiar with Belize laws and Belize law office rules.
There has been an approximately 30% growth in real estate sales in coastal regions as compared to a growth of 15% in the areas inland. More and more people are investing in real estate in Belize area hence 2017 would result to be a successful year for real estate sales. A number of airlines have increased the frequency of direct flights to Belize from various cities including Houston, Panama city, Los Angeles, Chicago, Dallas, Charlotte, Atlanta, Newark, and Miami just to name a few. All these cities have daily flights going to and fro Belize.
Belize is a mother nature’s gift to the ecosystem. There is a combination of many natural factors, such as climate, the topography, and the Caribbean flavor to the place makes it a worthful destination for a second home. A major factor attracting real estate buyers to Ambergris Caye is the barrier reef. It provides luxury facilities such as diving and water sports, bird watching, nature trailing and access to the beauty of the national park. The Placencia peninsula is situated near the river Sitee. It is comparatively remote and hence a bit cheaper. Corozal town is situated on the Mexico border in North Belize. Corozal town will also attract more and more foreign investors in coming times. Belize sits on the Mayan civilization and the Maya ruins pose a breathtaking site in the well preserved Caracol, Lamanai, and Xunantunich archaeological sites.
There are many attractive spots in Belize, some of which are:
- San Ignacio town having Maya ruins of Cahal Pach which hosts a number of adventure tours
- Caye Caulker, a small limestone coral island in the Carribean sea
- Toledo town of Punta Gurda boasts the beauty of Toledo cave networks
- The white sand beaches of Palencia village are also a popular destination
- Over 100,000 acres of marvelous pine covers are located in Cayo district
- Dangriga is situated at the North Stann Creek river. It is the cultural center of Garifuna people.
Belize is an English-speaking Caribbean country and is a dreamland for those wanting to invest in second homes. It attracts the upscale clientele and people from across the world are taking notice of the properties available for sale in the country. Currently, the prices are considerably lower than the Mexico and eastern Carribean, but the prices are bound to appreciate as Belize continuous to develop at the current rate or more. There are larger quality infrastructure and real estate developments happening, also the country is a home to a diverse landscape. All these factors play an eminent role in attracting investors to the budding real estate sector of Belize!