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Economic Growth This Year Makes Belize Property A Favourite With Investors
September 18, 2009Article by Ray Withers
Belize is set to be one of the few property markets in the world to actually benefit from the international downturn.Economic growth averaged 4% between 1999 and 2007 but slipped back to 2.8% in 2008 as the international downturn set in. the biggest external revenue inflows came from the massively growing tourism industry.
During these years, the low prices made Belize property very popular with overseas buyers, as the holiday makers turned into holiday home buyers, and the economic growth made it a favourite with investors.However, Belize property prices grew so rapidly and other economies showed equal economic growth, that Belize started to lose out to these other countries, including, Brazil and Argentina.
Now that both Brazil and Argentina are forecast to fall into recession this year by the IMF, while Belize is to remain stable with a 1% growth, property investors are coming back to Belize in searched of any bargains that may have been left as effects of the downturn.
What they are finding is that Belize property prices have shown remarkable resilience to the effects of the downturn. However, the contraction of sales has led to some land banks becoming available at some pretty impressive prices, as developers attempt to liquidate some assets in order to weather the storm.
One such opportunity is currently being offered by UK property investment consultancy Property Frontiers.The company is currently marketing 0.5 acre plots in the Cayo District’s Belize Reserve for £20,000. 1, 2 and 3 bedroom villas are also available.
The Belize Reserve is located in the lush tropical rainforest of the Cayo district on the western side of Belize, just 15 minutes from town of San Ignacio and 25 minutes from the capital.The reserve itself is a gated ecological community combining environmentally friendly self sufficient homes, a boutique eco hotel, wildlife reserve, conservation centre and organic gardens.
The site will consist of 14 village communities of around 20 properties each surrounding the small boutique hotel complex with its excellent facilities. Construction is underway with the on-site hotel due to complete by the middle of next year. Owners can then choose from three stunning designs of property to be constructed for them at cost price.When the hotel is completed next year it will also have leisure facilities, including: a pool, spa, restaurants, shops and more.
With natural springs to supply the water, solar electricity and anaerobic bacteria based sewage system; this development is to be 100% carbon neutral. So much so that whatgreenhome.com has awarded it an “excellent” kite mark.