The Belize Real Estate Boom Continues
When I first moved to Belize, almost a year ago, I wrote a short article titled Booming in Belize. It was apparent to me right off the bat that things were “booming” all across this great country – the Belize real estate boom in particular. While it was immediately apparent, and indeed true, I didn’t actually grasp just how true it was.
When you move to Central America or any region of the world for that matter, you will inevitably become a participant in a new and different economy than the one you are used to. That means the foundations of the U.S. economy that have supported financial dealings for your whole life will, for the most part, be replaced by another set of values, circumstances, and realities. This can be jarring for some. Part of the reason Belize is doing so well right now is because of the accessibility that expats and other foreigners have to participate in the economy there.
Belize’s economy is actually one of the strongest in the region, and it can be extremely eye-opening to someone who has not participated in other economies outside the U.S. or other western nations.
The Belize real estate market in particular (residential construction and new home sales) is often a good selection of economic indicators to reveal how a national economy is doing. Homes for sale in Belize are some of the highest quality, expat-friendly accommodations available in Central America and the Caribbean. The Belize real estate market is competitive and growing, yielding advantages for both sellers and buyers. And buying real estate in Belize is a straight forward process.
But for most people, it’s usually best to visit a place before you decide to move there. The best way to conduct your due diligence when deciding where to purchase real estate is to make at least one visit to see how you are welcomed, how you like the area, the climate, and the people. This is partly why Belize is so focused on the tourism sector of its economy – it brings in not only tourism-related revenue but also Belize real estate investments.
With government incentives for retirees, business owners, and investors; having English as the official language; and the Belize Dollar pegged at a 2:1 ratio with the U.S. Dollar, there is a long list of reasons why people like you are choosing to move here.
In fact, the first half of this calendar year has been one of the most record-breaking periods for the tourism sector in Belize. Tourism is the biggest and fastest-growing industry countrywide. January through June of this year brought more than a 16 % increase in stayover visitors to Belize, making it one of the fastest-growing destinations in the Caribbean. Each of those six months saw double-digit increases in the percentage of arrivals when compared with the same month just one year prior. Around 70% of tourist arrivals are from the United States.
Belize Tourism Board commented on the increasing visitation, saying: “The tourism industry in Belize continues to achieve impressive results and will work towards maintaining this increasing trend throughout 2016.”
I will continue to cover this hotbed of opportunity that is growing in Belize. All you need to know is that now is the best time to visit or start your investment.
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