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Belize Real Estate To See Foreign Sales Surge In 2010
April 12, 2010Article by Ray Withers
Belize real estate will see a massive increase in sales to foreigners this year, international property investment consultancy Property Frontiers has announced. According to the firm the revival of Latin American economies, including Belize, and the revival of international tourism to the region, will combine with the massively reduced prices in Belize, and their previous track record of growth, to make the country a hotbed of foreign buying activity.
Director David Cox said:
“Although local agents claim only a slight fall in Belize real estate prices in 2008, the Coldwell Banker Index says the average price of four-bedroom houses in San Pedro, Ambergris Caye, was 50% lower in 2008 than in 2007. While this figure is not representative of all markets, it does give an indication as to the bargains available to foreign buyers.
“You also have to consider the fact that Belize real estate values grew by 15% per year inland, and by up to 30% in coastal locations. This track record of such strong growth will not be overlooked by serious investors.
“We are currently marketing some luxury 1 bedroom villas in an absolutely unbelievable location and with full rental management from just £72,400. In the same development, buyers can choose to buy the plot alone, and get half-an-acre for just £20,000.”
The development Cox is referring to is the Cayo District nature reserve, a luxury eco-boutique resort, set within a nature reserve in the Belizean rainforest, hence the mention of an “unbelievable location”. The resort is built around a 20 room boutique hotel, which those who build have their properties become part of, with full rental management benefits free. The hotel is also to have a range of leisure facilities for property owners to enjoy, including swimming pool and spa.
The resort has everything today’s ecologically conscious traveller and property buyer is looking for, including: natural springs to supply the water, solar electricity and an anaerobic bacteria based sewage system, it will be 100% carbon neutral and have minimal running costs. In fact, the resorts eco-friendliness is of such high quality that it has been awarded the “excellent” kite mark from whatgreenhome.com.
The property is undoubtedly spectacular, which makes the low prices all the more incredible in terms of value for money. Any investor knows, the lower the price the more potential there is for growth, and by that measure, the Cayo District nature reserve development is an investment that many people will see the potential in — shame there are only 12 units available.
For more information contact Property Frontiers on +44 (0) 1865 202700.