Last year Belize appointed a new Tourism Minister who is committed to the development and promotion of 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 low cost and attractive real estate and has long been considered an affordable overseas destination for British and American tourists and retirees, never before has it sought to so fully embrace its cultural and ecological advantages and build on its reputation as a friendly and relaxed destination to directly target the wealthier tourism market.
Belize is of course already a tourism hotspot with travellers drawn to the beautiful cayes, the beaches, the barrier reef and the flora and fauna…but with the development of a luxury end tourist market place in Belize, the appeal of the country can only rise and rise.
International real estate investors are well aware of this fact and are buying up 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 over 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 stand the very best chance of making maximum profit.
Not only are real estate investors well aware of this fact, a growing number of American baby boomers are too and they are securing their retirement lot now while prices remain attractively low. They know that if they spend the next few years before they retire getting their ideal property built so that it will be fully completed and ready to move into when Belize is well under way with establishing itself as a sophisticated travel destination, they will be moving straight in to a more sophisticated country as a result.
In terms of what will drive residential property prices up in Belize, as more and more people travel to Belize so more and more people will understand the charm and appeal of the country and will wish to set up home or buy 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 afford to pay more for property and this will sustain price increases. Furthermore any increase in demand naturally pushes property prices up anyway – and in fact this trend has already started in the most attractive coastal resorts in Belize and just highlights the shape of things to come.
Therefore NOW is the time to buy real estate in Belize if an investor wants to get the most for his money whilst buying into the maximum period of growth potential.