Why NOW is the time to buy real estate in Belize
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, laid-back destination to directly target the richer tourist market.
Of course, Belize is already a tourist hotspot with travelers drawn to the beautiful cays, beaches, barrier reef, and wildlife…but with the development of a luxury tourism market in Belize, the lure of country can just get up and get up.
International real estate investors are well aware of this fact and are buying land and property in Belize to position themselves ahead of the projected upward swing in property prices.
Those who are currently taking advantage of Belize’s policy of actively attracting investment 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.
Not only are real estate investors 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 several years before retirement building their ideal property so that it is fully finished and ready to move in when Belize is well on its way to establishing itself as a sophisticated travel destination, they will be moving straight 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 appeal of the country and will want to settle in or purchase a vacation home in Belize. This increase in demand for real estate in Belize will come from an increasingly wealthy section of society if the Tourism Minister’s plans for Belize come to fruition and these people will be able to pay more for property and this will sustain price increases. Also, any surge in demand naturally drives up property prices anyway, and in fact, this trend has already started in Belize’s most attractive seaside 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 in the peak period of growth potential.
