Last year Belize appointed a new Minister of Tourism who is committed to developing and promoting Belize as a luxury market for private tourism; this fact is the number one force driving massive real estate investment in Belize right now.
While Belize has long been associated with attractive, low-cost real estate and has long been considered an affordable overseas destination for British and American tourists and retirees, never before has it sought to take full advantage of its cultural and ecological advantages. and build on its reputation as a friendly and relaxed destination to directly target the wealthier tourism market.
Of course, Belize is already a tourist hotspot with travelers drawn to the beautiful cays, beaches, barrier reef, and flora and fauna… but with the development of a luxury tourism market in Belize, the allure of the country can just get up and get up.
International real estate investors are well aware of this fact and are purchasing land and property in Belize to position themselves ahead of the projected upward swing in real estate prices.
Those who are taking advantage of Belize’s policy of actively attracting investment today will benefit in the medium term when the country’s plans for the development and promotion of the tourism market are fulfilled. In other words, those who buy now have the best chance of making the most profit.
Real estate investors are not only well aware of this fact, but a growing number of American baby boomers are too and are securing their retirement lot now while prices remain attractive. They know that if they spend the next few years before retirement building their ideal property so that it is completely finished and ready to move into when Belize is well on its way to establishing itself as a sophisticated travel destination, they will move right into a more sophisticated country as a result.
In terms of what will drive residential property prices in Belize, as more and more people travel to Belize, more and more people will understand the charm and allure of the country and will want to settle in or purchase a Belize vacation home. This increase in demand for real estate in Belize will come from an increasingly wealthy section of society if the plans of the Minister of Tourism for Belize come to fruition and these people will be able to pay more for property and this will sustain price increases. Furthermore, any increase in demand naturally drives property prices up anyway and indeed this trend has already started in Belize’s most attractive coastal resorts and only highlights the shape of things to come.
Therefore, NOW is the time to buy Belize real estate if an investor wants to get the most for their money while buying at the peak period of growth potential.
