Belize Property Market Update

For investors interested in the availability of property and potential in Central America this is our Belize property market update featuring discourse on the significance of the discovery of oil in Belize and the recent announcement that two major resort property development projects have been given the green light to begin construction.

After almost half a century of failed oil exploration in Belize by some of the largest and most experienced names in the oil industry it came down to the luck of the Irish to find oil in Belize that is as low in sulphur as the prized oil from fields in Western Texas and today Belize is exporting up to 3,000 barrels of black gold to America every day.

Irish backers supported Belize Natural Energy’s oil exploration efforts and the company joined forces with CHX Energy from Denver - together these two relatively small companies succeeded where Texas oil barons had failed; what a sweet story of success! 

But what does all this mean for Belize and the property market in particular?

Well, it has certainly put Belize on the map!  And the fact that the government immediately slapped high speculative taxation on any foreign company attempting to profit from its country’s natural resources means that it has raised a few eyebrows particularly in oil hungry America where the majority of tourism and second or retirement home interest comes from! 

However the government has genuine reasons to tax oil so strictly – it wants to prevent the nation from being exploited, it wants to see revenue from the production of oil made available to benefit the citizens of Belize and improve the infrastructure in Belize and finally it wants to protect the unique bio-diversity and wealth of stunning flora and fauna that Belize was mainly famous for before the discovery of oil.

If the government lives up to its aims it will prove that Belize is a mature and conscientious nation, it will also enhance the living conditions of Belizeans and improve the general economic position of Belize and it will hopefully preserve the ecologically stunning natural environment in Belize and further enhance Belize as a nation in which to invest in our opinion. 

It seems that we are not alone in our opinion either, since the discovery of oil and the government’s vociferous commitment to protect the natural beauty and environment of Belize in a bid to encourage intelligent and sustainable investment and interest in tourism and real estate projects, the Belize National Environmental Appraisal Committee has been happy to give the green light to two significant resort projects backed mainly by US investors. 

The Ara Macao Resort and Marina in Placencia from Chicago-based ioVest Development LLC and Ara Macao Holdings LP and the Camino Del Rio Community from TAREIG, LLC, a Maryland based property development company are both significant additions to the broad range of investment property potential in Belize…

The mixed use communities and resorts are being constructed to carefully preserve the stunning natural environment in which they are located which is how they were given governmental approval for construction to begin, and the quality of the condominiums and villa homes that will be offered for sale within the exclusive resorts suggests that a more wealthy clientele is now being attracted to holiday, retire and live in Belize which raises the financial stakes for investors.

Both the Ara Macao Resort and Marina and the Camino Del Rio Community are deluxe residential communities with extensive and impressive facilities from golf courses and nature trails to onsite diving, and because both will include an array of natural features such as the planned rainforest nature preserve for Scarlet Macaws and protected coral reef within swimming distance from the beach at the Ara Macao Resort they are already attracting a great deal of interest from overseas buyers as well as holiday companies seeking to secure units for rental to their clients.

In raising its profile for the right reasons it seems that Belize is becoming even more in demand from second home hunters and holiday makers which naturally provides a property investor with a broader and potentially more affluent client base to target.  Therefore it looks as if Belize is emerging well and developing an investment property climate ripe for exploration.

Special Reports: Property News for Belize

Belize Real Estate Buying Guide
The real estate purchase process in Belize is relatively straightforward although sourcing suitable investment land or property can be tricky

Belize Investment Real Estate Guide
A look at why Belize is the next big thing in terms of investment real estate opportunity in the Caribbean

Belize: A Guide for Real Estate Investors
Real estate in Belize is so popular with property investors because Belize offers so many financial incentives and natural attractions.