Luxury Real Estate

By Jim Walberg

From his blog: Caribbean real estate: Belize is One of THE Top Hotspots!

South Beach – Belize is perfectly positioned for the explosion happening with European investors in the Caribbean!

Article By Poyel Nelson: The headline on the International Living Magazine in December 2007 is straightforward: Belize: Buy Before the Europeans! (Remember my last posting about South Beach – Belize?) Amongst the financial crises triggered by the real-estate market woes in the United States, caution is advisable over such a bullish statement. So, what are the reasons for such a headline?

Direct flights from Europe to Belize City will be launched by late 2008. This is major news for Belize and its real estate market. Europeans, armed with their strong currency, will most likely start to travel to this English speaking country in greater numbers. Transit though the U.S. will no longer be required for European visitors. They will come for the classic Caribbean experience, the world class diving, the jungles and rainforests, the Mayan ruins, the waterfalls and rivers. And some will want to stay or retire here; hence real estate dollars are likely to follow close behind.

We could observe this effect of new flight routes on real-estate markets before. Wherever Ryanair (Ryaniar is a major European low-cost airline) has started flying, the Irish and the British have followed and real-estate markets have prospered. This is now called the “Ryanair effect.” Rumor has it that direct flights to Belize from Canada might also start soon. Real estate is all about timing and right now could be the time to focus in on this stunning country in the Caribbean. Property prices are still well below regional benchmarks. Let’s look at some of Belize’s characteristics to further elaborate whether the above proposed demand really is valid:

The Belize River flows through the middle of the country. With a Caribbean coastline, the Belize Barrier Reef and the Maya Mountains, there is a diverse countryside with plenty of outdoor recreation. The longest-living barrier reef in the Western Hemisphere, and the second-longest in the world, attracts divers from all around the world to Belize. This Central American country is a former British Colony also known as British Honduras and has adopted English as its native language. It is considered one of the most stable Caribbean governments with a Parliament as their ruling body. Retirees in Belize can apply for a special status that provides tax breaks on retirement income and extends easy import of household items and furnishings.

“Belize has the lowest population density in the Central American region, and one of the lowest in the world. There is room for many people in Belize. Adding to Belize’s attractions is the cultural and ethnic diversity. There appears to be almost no friction between the harmoniously blended cultures and races. Belize is home to a wide range of ethnicities, including Mennonites, Chinese, Mayan, Spanish, Lebanese and East Indian. Culture, economy and geography make Belize a desirable place to live. With this Caribbean country becoming more accessible through air travel, it seems to be positioned well for significant growth in its economy, in general travel and, eventually, its real-estate market.

Poyel Nelson certainly supports our interest in South Beach Belize. Remember, pre-construction prices are well below regional markets with lots starting at USD$99,950 to USD$6,913,000 for 36-unit boutique hotel/restaurants. This may be the project to act upon NOW. I will keep you posted as I continue my real-estate detective work in the Caribbean. Contact me anytime. Until next time…


Editor’s Note:
Jim Walberg and Ann Marie Nugent are the Brokers/Owners of The Bay Area Team, the most-successful team at Keller Williams Realty-Danville. They are also members of the global LuxuryRealEstate.com network. Jim is an experienced and wonderful blogger, as you can see by visiting his blog, Caribbean Islands Realty. There are many opportunities in this current market, despite the bad news we often hear. Keep your ears open for great news like this from real-estate experts like Jim. We welcome your blog entries and comments in the LuxuryRealEstate.com Blog.