Central American Real Estate: Ambergris Caye vs. The Competition
When deciding on a new country in which to purchase a second home, or even to retire overseas, you’ve got a lot of great options for Central American real estate. While places like Costa Rica and Guatemala have their charms, there’s something to be said about the pros of joining the growing expat community of Ambergris Caye, Belize. The prices of real estate in Belize, while growing, are still significantly lower than those in other areas in the eastern Caribbean and in Mexico. To top it off, property taxes are very low, there aren’t any capital gains or estate taxes, and transactions can be quite easy to complete.
Ambergris Caye real estate is ranked as one of the top retirement , investment, and real estate markets in the world, and for good reason. An investment in a property here would be a great decision, seeing as how the market is booming. At one time, homes along the eastern coast of the island were selling for as little as $10,000 to $15,000 USD. But now that the island is gaining more attention from expats from the United States and Canada, property prices in that same area are reaching the $400,000 range and higher. Anyone who buys a property on this island is likely to have the pleasure of watching the value appreciate as Belize continues to develop. This 24-mile island has a lot to offer, and people are starting to take notice.
Most of the real estate on Ambergris Caye are priced in U.S. dollars, as the second-home and retired expat community is growing so rapidly. The barrier reef that runs off the east coast of the island is the second largest in the world and draws people in from all over to snorkel, scuba dive, and go fishing. If that’s not enough to set this charming little island apart from the competition, consider the fact that the official language of Belize is English, so you can get around just fine if that’s the only language you know.
Most of the population of Ambergris Caye lives in San Pedro, the island’s only town. There are about 22,000 people living on the island, which allows for the area to be small enough to be charming, but big enough that you won’t feel isolated. There are plenty of people to meet! Property values in San Pedro can fall into a slightly lower range, since they are not beach front – but these properties are appreciating in value as well, bringing a more affluent consumer base into town.
Ambergris Caye was rated as the TripAdvisor #1 Island in the world in 2013 and 2014. It was named a top overseas retirement destination by U.S. News & World Report in 2016, and it was featured in the Huffington Post’s Top 5 Overseas Property Markets for 2016. This all plays into the testament that, as far as real estate investments go, Ambergris Caye real estate investment is a prime destination. Consider also that if you’re looking to buy a property to use for a summer home, or second home, and want to rent the place out while you’re away, you’re looking at an overnight rental market. With Ambergris Caye being such a popular tourist destination, it’s not uncommon to rent rooms out for $400 per night.
When considering all of your Central American real estate options, there’s one more important point that you shouldn’t miss. With the conveniently close location Belize offers to the United States, airfare is not only affordable…but more airports are starting to offer direct flights. Currently, you can find direct flights out of Los Angeles, Houston, Dallas, Denver, Atlanta, Charlotte, Chicago, Miami, and Newark. There are even direct flights out of Toronto, if you’re coming from Canada. As the economy grows, and more people begin to experience and explore Ambergris Caye real estate, it’s likely even more airports will begin offering direct flights into this country. This opens up even more opportunity for real estate investments.
With all that Belize and Ambergris Caye have to offer, it’s no wonder the country is growing so rapidly in popularity compared to other Central American real estate markets. The amount of development expected to take place there over future years will have positive effects on the economy and, therefore, on those of us looking to take up residency, either for a second home, vacation home, or a beautiful place to retire overseas. With the market headed in the right direction, Ambergris Caye real estate market couldn’t be a better place to invest compared to the rest of the Central American real estate market.
Header image credit – https://pixabay.com/en/belize-san-pedro-tropical-caye-1971341/
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