Timing is the most important thing as far as real estate investments are concerned, but figuring out where the best opportunity will be and when to get onboard can be incredibly tricky even for experienced investors. Belize has been getting some attention over the past few years, and it remains a hot proposition even in the wake of a global pandemic. Belize’s tourism industry bounced back successfully from the pandemic thanks to its sensible approach to public health, and the following year looks like it could be a solid year for investment. Here are the trends to keep in mind.
An Unsaturated Market
Belize’s real estate market is rarely saturated, and that’s the case for 2021 as well. Whether you’re looking at beachfront property, a vacation rental inland, or something commercial in a major city hub, you don’t have to look far to find properties that are worth your time. And since there’s plenty of properties on the market, pricing is generous.
High Consumer Demand
Despite the investment levels not yet reaching the saturation point yet, there remains a lot of consumer demand in Belize. The winter months remain a booming season for the tourism industry. That’s perennially true on islands like Caye Caulker and Ambergris Caye, but it’s increasingly the case in smaller fishing villages and the inland region of the Cayo District as well. Much of this demand is also driven by expats from America and Europe who are either settling into existing communities or developing their own throughout the country.
Generous Terms From the Belize Government
One of the reasons why people are moving to Belize is that they offer the generous Qualified Retirement Program. This system allows easy residency, duty exemptions, and tax exemptions for people who meet the relatively easy qualifications. This can be especially useful if you want a property you can split between personal use and renting. But even if you aren’t looking for residency, Belize is a tax haven with favorable exchange rates with the US dollar and lax restrictions on foreigners owning property.
Options For Stable Investment
One of the biggest advantages of investing in Belize real estate is just how many options you have available. Seasonal tourism rentals are very popular, but many people are finding success by investing in land with the promise of development in the future. Commercial, residential, and undeveloped properties all show promise, but finding success means understanding exactly what’s happening in the market. An agency like Hesed Realty has local agents who can work with you to find an investment that fits your needs.