While the general global economic climate has impacted Belize along with the rest of the world, the country maintains strengths relative to its peer countries in Central America. CNN Money called Belize “one of the six hottest markets” for second home purchases globally. As may be expected, the United States is a leading factor in that boom, and the figures are expected to grow. While approximately 10 percent of British live as expatriates, only 2 percent of Americans live abroad, leaving substantial room for growth. (Source: CNN Money.com)
Robb Report Nov 2017 just featured Belize as one of the 10 most lucrative places to invest.
In addition, throughout Central America only Costa Rica has as much real estate related search traffic as Belize. (Source: revealrealestate.com)
As the global economy improves, (GDP grew already 2.9% in 2015) Belize and The Balam Escape share a number of advantages that will help the housing market, including:
- Low cost of land allows us to pass those savings to consumers
- Relative close proximity to the US will mean less travel time and travel money for second home buyers
- Extensive construction materials on site (timber, adobe, etc.) reduces costs, allowing price per square foot to be considerably lower than in neighboring countries
- New construction materials and techniques will not only make the homes cheaper to build but to maintain as well
- The government has approved a fiscal incentives package for the project which allows for the importation of all construction materials, supplies, and furnishings 100% import duty free
- The density in Belize allows ample room for growth without the supply-demand pressures that force retail prices up in other, more developed countries.