Find out what’s happening in the property investment arena both in the UK and internationally
Property in Belize to Be Popular with Brits this Winter
June 18, 2010Article by Ray Withers
Property in Belize could see its first serious activity from British buyers as early as the third quarter of this year, international property investment consultancy Property Frontiers has announced. The firm believes that Belize will be one of a number of locations to benefit from the winter rush caused by the combination of reduced property prices, the economic recovery and the cold British weather.
Director of the firm David Cox said:
“Belize has a real chance of seeing some strong activity from British buyers this winter. Belize property prices in areas that are popular with foreigners have fallen by between 40 and 50% according to realtors on the ground. Thus, property in Belize is now among the cheapest in the growth hotspot of Latin America.
But the real strengths lie in the environment and value for money. In Belize you can currently buy a luxury 1 bedroom villa in a new boutique development within a tropical rainforest nature reserve setting for just £72,000. That price also buys you rental management and servicing as part of the eco-boutique hotel.
As for the environment, English is the first language of Belize, so all property contracts are in English. This is because it is a former British colony, which also gives it an established judicial infrastructure and a first rate healthcare system. Things like that are going to prove very important with the new savvier wave of overseas property buyers.”
Cox was referring to the Cayo District Nature Reserve development, which is set literally in a rainforest, but is also just 15 minutes from town of San Ignacio and 25 minutes from the capital. The package does seem incredible and the price is a prime example of the value for money that can currently be found on property in Belize; a 1 bedroom luxury villa in such a resort would have cost twice that even in the middle of 2008, and still does in most of Latin America.
We also mustn’t forget the fact that Belize offers one of the largest coral reefs in the world, making it a hit with scuba divers and marine nature lovers, as well as some impressive Mayan ruins which will be increasingly popular in the run up to 2012.
All in all Belize has a very impressive package to offer foreign and especially English speaking buyers, which is why prices grew so rapidly during the boom. Now that clock has been zeroed it will almost certainly see increasing popularity as buyer numbers increase.
For more information contact Property Frontiers on +44 (0) 1865 202700.