Posted: Wednesday, February 19, 2020. 11:31 am CST.
By BBN Staff: The Belize real estate market isn’t just hot; it’s sizzling. A big reason for this phenomenon? Tourists find the nation so remarkable, they’re investing in Belize real estate at an astonishing rate.
While tourists often lament the end of idyllic year-end vacations, Belize tourism folks can’t wait to see a new year roll around because it gives them opportunities to collect statistics that prove that Belize is the new Costa Rica. During 2019 alone, the Belize Tourism Board counted over a million first-time tourists. And things just keep getting better.
The 2.8-percent increase in tourism between 2018 and 2019 was an astonishing 503,177 overnight visitors. Why were Tourism Board members so ecstatic? Because in 2012, their National Sustainable Tourism Master Plan projected 556,000 overnighters by 2030 and as of now, it appears this deadline will come and go before 2030.
In response to this increase in visitors, the nation’s hospitality industry has gone all out to attract newcomers, but credit also goes to Mother Nature whose abundant gifts fill the nation from the Belize Barrier Reef to lush jungles, rainforests, and beaches. Tourists dream of living in this lush paradise and airlines have increased flights to accommodate people eager to see what all of the excitement is about.
It’s one thing to see an uptick in tourism. It’s another to realize that visitors falling in love with Belize would return home thinking collectively, “This would be an awesome place to move or retire”! Thanks, in part, to Belize’s Qualified Retired Program (QRP) which spurred purchases by retirees and expats. 2020 is expected to experience a new market trend slated to attract more retirees than ever before.
What’s driving the interest of this market segment? Affordable real estate. The Caribbean. Jungles and rainforests. Cultural sites like Maya ruins and a diverse population, but one of the biggest trends Belize is experiencing is “property sharing.” Also known as fractional ownership, folks eager to move to Belize who can’t afford that beachfront property alone are adopting this co-op method of home ownership.
Given all of the positive news about Belize real estate sales, you need a professional on your side to help you with everything from browsing properties to getting the financing. With the Placencia peninsula market currently at its hottest, that resource is Boris Mannsfeld & Associates (BMA), the premier real estate agency in Placencia.
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