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Diverse Range Of Buyers In Belize
February 24, 2010Article by Ray Withers
The range of different buyers of property in Belize is more diverse than ever before an international property investment consultancy has stated. According to Property Frontiers there is an almost equal mix of investors and lifestyle buyers, and not mainly from the UK but from Eastern Europe, Scandinavia, Asia and even other parts of Latin America.
David Cox, director of the firm says that there is more diversity now than he has ever seen, he said:
“During the last boom, property in Belize became one of the favourites among the hardcore private investors. Then, during the last few months, the only type of buyers we were seeing was lifestyle buyers. Now, as investors return to the market, the fact that the crunch has made Belize a hotspot for off plan bargains is making it one of the favourites.”
However, Cox said that the fact that the properties in Belize his firm is perfect for investors and lifestyle buyers can’t be ruled out as one of the reasons why they are seeing such a diverse range of buyers.
Property Frontiers is currently marketing the Cayo District reserve, which is gated self-sufficient community built around a central boutique hotel. On sale are half-acre land-plots from £20k, with the option to build a luxury villa at the cost price of £72k for a 1 bedroom unit — 2 and 3 bedroom units are also available, priced from £84,150 and £95,950 respectively. Those who decide to build on their plots receive free rental management as an extension of the boutique hotel.
The development is the perfect lifestyle choice; as a secluded, get-away-from-it-all bolthole. But it is also perfect to capitalise on the green phenomenon, both in terms of rental yields from green tourists, and from capital appreciation from green buyers. Another arm to its all-round perfectness is the fact that, while it is amidst the glory of nature, it is also just 15 minutes from town of San Ignacio and 25 minutes from the capital.
During the last boom property in Belize grew rapidly in price as it became one of the world’s top investment hotspots. This unfortunately led to other areas taking over Belize as the favourite because they offered lower prices.
Demand dropped off significantly in the second half of 2008, though it didn’t die off altogether as it did in many places. None the less it did drop-off sufficiently enough to cause developers to offer their properties at discounted prices — discounted by 30% in the case of the Cayo District reserve.