Increased Tourist Numbers is Spurring Investment in Belize Real Estate
In 1981, when Belize gained independence from Great Britain, the country was a little-known outpost of the former empire. Difficult to get to and seemingly quite isolated, Belize has risen over the past three decades to become one of the region’s most popular destinations for tourists, retirees, and foreign investors in real estate.
According to the Belize Tourism Board in their latest report published on April 11, 2017, tourism numbers have risen once again with more than 122,000 cruise visitors reported for the first quarter of 2017, an increase of 2.7% from 2016. Likewise, the number of tourists flying into Belize has increased thanks to new flights from Southwest Airlines connecting Denver and Ft. Lauderdale to Belize and WetJet connecting Toronto, Canada, to the country.
All of this increase in popularity has been driving demand for real estate in Belize. The government of Belize does not impose any restrictions on foreigners buying, selling, or renting property in the country, and property rights are strictly enforced by a judicial system inherited from the British. Far more affordable than comparable regions in the Caribbean and Central America, investors and retirees looking to purchase homes and lots can still get access to excellent locations directly on the beach or with deep water access to places like Chetumal Bay.
Areas like Corozal in the north of Belize are especially popular. Residents benefit from a thriving expat scene that organizes community events, and the cost of living is far lower than in popular tourist destinations like Ambergris Caye. Corozal is located just a few miles from the border town of Chetumal in Mexico where it’s easy to find world-class health care facilities and familiar low-cost retailers like Wal-Mart and Sam’s Club.
Corozal Town, the capital of the district, is still a small, friendly town of just 10,000 residents with a lovely central square, library, churches, a daily open-air farmer’s market, and plenty of small shops, restaurants, and sidewalk cafes. Corozal District is also located close to ancient Maya sites, beautiful nature parks, and popular destinations such as Belize City and Ambergris Caye. Corozal often feels like a throwback to an earlier age when everyone knew their neighbors and newcomers were instantly made to feel right at home.