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Belize Property to Resume Growth H2 2010
November 30, 2009Article by Ray Withers
Belize property prices could return to growth as early as the second half of 2010, international property investment consultancy Property Frontiers have announced. The firm believes that confidence, and buyer expectations are currently the biggest hindrances to growth in many markets, Belize included, and that growth will return when a proper balance between sellers and buyers’ expectations can be restored.
Sourcing manager Ben Jeffries said:
“This is the traditional time after a downturn where, firstly there are droves of people and funds that are buying or looking to buy for the sole reason that there are bargains to be found; that will only buy below market value, and then there are the rest, buying for other reasons but who still feel that they should not be paying full price either.
Once the developers and vendors are comfortable enough in the recovery to start removing offers and firming up on their prices, we will see a period of stabilisation, followed by the beginnings of a return to healthy growth in Belize property prices.”
Since the advent of the budget airline, the Caribbean destination of Belize, with its tropical rainforests, abundance of Mayan ruins and the second largest coral reef in the world has grown into a massively popular tourist destination.
During the last few years, those destinations where tourists went, property investors and lifestyle buyers followed, and so Belize property
“After the finger burning credit crunch, it will be some years before overseas property investment becomes so popular in mainstream Britain, and Belize can return to having some semblance of a normal, healthy property market, averaging 10% average growth from 2011-2015,” said Ray Withers, Property Frontiers director.
Property Frontiers are currently marketing an excellent development in Belize. Half acre land plots in a tropical rainforest nature reserve from £20,000. The plots come with the option to build a 1 2 or 3 bedroom villa, priced from £72,400. Those who build receive free rental management as part of the 20 suite eco boutique hotel being built as the centrepiece of the resort.
The Cayo District Nature Reserve is a gated ecological community combining environmentally friendly self sufficient homes, an eco boutique hotel with leisure facilities and spa, wildlife reserve, conservation centre and organic gardens.
With natural springs to supply the water, solar electricity and anaerobic bacteria based sewage systems; the resort will be 100% carbon neutral and have minimal running costs. It is not surprising then, that the reserve has been awarded an “excellent” kite mark from whatgreenhome.com.
For more information contact Property Frontiers on +44 (0) 1865 202700.