Navigating foreign real estate trends can be a little tricky. Here’s a brief breakdown on how market trends in Belize are collected, and the key factors experts use to analyze the current market atmosphere.
Unlike the United States, Belize does not have an official third-party organization that keeps official records of real estate sales and trends. Instead, established developers, investors and property agents become industry experts, evaluating the long- and short-term trends in local real estate markets. With more than 20 years of experience on Ambergris Caye, ECI Development has a unique understanding of current and historical market behavior, providing a big-picture representation for interested investors.
Foreign property owners and investors can find comfort in common ground when it comes to purchasing property in Belize. Real estate transactions are negotiated and paid in US dollars, and real estate contracts are written in English, the official language of Belize. Belize is also a T-8 tax haven, and there are no restrictions on foreign ownership. Add in the relaxed Caribbean lifestyle and developers on Ambergris Caye are independently coming to the same conclusion: There is steady growth in the local real estate market with no sign of slowing down.
Now, top experts around the country are adding one more significant indicator of growth to the list: Increased presence of major international hotel brands in Belize. The recent emergence of Belize as a top tourist and business destination has drawn experienced, top-level brands to the pristine beaches and communities across the country, including ECI’s Belize Marriott® Residences Ambergris Caye Resort, arriving oceanfront in 2020.
In perfect harmony with growing real estate and tourism demand, several major airlines have recently announced increased seasonal route options and additional flights to Belize from across Canada and mainland USA.
Local developers and agents agree with ECI’s market analysis, recognizing the value of major hotel branding.
“When the big brands started planting their flags, it is a major validation,” says local real estate agent and investor William Narod.” The brands have given people the confidence that they needed and it’s no longer a question of if Belize will develop and appreciate, now it’s simply a question of how fast.”
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The Belize Marriott Residences Ambergris Caye Resort are not owned, developed or sold by Marriott Worldwide Corporation or its affiliates (“Marriott”). Grand Baymen Villas, LLC and Exotic Caye Beach Resort Limited use the Marriott marks under a license from Marriott, which has not confirmed the accuracy of any of the statements or representations made herein.