Boris Mannsfeld & Associates Winter 2015 Real Estate Newsletter
Learn the latest real estate news from Leverage Partner Boris Mannsfeld & Associates, who recently released their Winter 2015 real estate newsletter, with real estate opportunities and tourism information covering the Placencia, Belize area.
View the full Winter 2015 Real Estate Newsletter.
Real Estate Update
What’s the market outlook for Belize? Belize is becoming and experiencing a 9.2% increase in overnight tourists from 2013 to 2014. There is also a solid demand increase in the real estate markets especially in Placencia. The more popular Belize gets the more people visit and the more people end up buying a piece of paradise before prices get too high or the good values get sold. Good deals are still there and new ones pop up on occasion yet they sell rather quickly.
The supply of available beach lots has taken a dramatic drop due to a continuous high demand from buyers. Prices, as expected, have also increased across the board and especially with beach lots. Last year lot prices were commonly below $200,000 yet now prices normally above with some lots recently selling at $245,000 and even higher. Recent sales for beach lots in one development are now at $500,000 per lot!
Belize continues to amaze its visitors and it shows. Word is out and spreading rather quickly. Belize was featured on Good Morning America, as one of the three “must visit locations” for 2015, where Placencia was specifically mentioned. Scuba diving magazine described Belize as the “Central American paradise” which earned a 2014 Top 100 Readers Choice Award from their customers.
Placencia has also seen the ground breaking of several significant new high-end boutique hotel / resort projects. Two such projects were originally planned years ago and are now both simultaneously moving forward showing clear evidence that tourism and real estate demand are expanding along the peninsula.
The month with the most overnight visitors continues to be March, which had 38,712 visitors, which was an 8.1% increase over 2013. The month with the largest percentage change was April, with a 23% increase over 2013.