Caribbean gem

Country: Belize

13 February 2008

Commonly referred to as Mother Nature's best-kept secret, the thought of owning property in Belize is proving increasingly more appealing.

Tourism, which is vital to the economy, is growing at a rapid rate. Yet like some other emerging nations like Cape Verde, Belize may soon open up air traffic in order to cater for direct flights from Europe and Canada. Belize international airport has already been expanded, indicating that plans are already in place to introduce long-haul flights. The harbour in Belize City is also being extended to facilitate the arrival of even more cruise ship visitors.

Growing tourism levels should result in greater demand for property in Belize to buy and rent. Consequently, there are number of new residential developments being constructed across the country. This in turn is driving annual property prices upwards by around 15%, according to property agency SomePlace Else.

SomePlace Else recently completed construction work on Bella Maya - winner of the prestigious Homes Overseas Gold Award 2007 - that is located in Placencia. Set upon six acres of landscaped beach and lagoon-front land, with over 450 feet of private Caribbean beachfront on the Placencia Peninsula, the resort consists of 60 apartments, a restaurant, bar, infinity pool, tour centre and 24 hour reception. Nine apartments remain for sale, with prices starting from £209,000.

Speaking to Homes Overseas on-line, Ben Mason of Some Place Else, said: "Belize has an awful lot going for it, as it is a wonderful destination. It has plenty of white sandy beaches, Mayan ruins, caves, jungles, and the second largest barrier reef in the world.

"The country's legal system is based on British law and English is the official language. The people are friendly and the economy is stable. Tourism is growing and will continue to get larger, which should impact positively on property prices in Belize over the years to come."

Editor’s comment:
Now is an exciting time to buy property in Belize. Not only because the prospects for capital growth look good, but also due to the fact that the Belize dollar is pegged to the US dollar at a fixed rate of $2 to $1. This means that Brits can get more property for their money, due to a weak dollar against the sterling.

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