A recent profitability report released by Amerblamb concludes that the Belize real estate market will be a slow burner in 2007. 

To quote the report:   “To us Belize is a dichotomy, on the one hand it has everything going for it - for example it’s stunningly beautiful, it’s a former British colony where English is still spoken and where the legal and political systems are still based on their British equivalents and are transparent, it is politically and economically stable, property prices are relatively cheap, the cost of living is low and transport links to North America are good.  But on the other hand Belize is not achieving its potential as a major tourism destination, its not managing to attract enough retires or wealthy expatriates despite various highly attractive tax sheltering incentives and as a result its property market isn’t nearly as exciting as it could be.  Maybe we’re being too hard on Belize, but really we had hoped for more and going in to 2007 Belize real estate profitability and the prospects for the entire property market are okay but less than thrilling. ” Click here to read full report.

We agree that the Government in Belize could be doing much more to promote tourism.  After all, the tourist trade generates over 80% of tax revenues for the country.  After a series of somewhat hasty tax rises over the past year, it seems that the Government is now beginning to take a more long sighted position.  The reversal of the 15% stamp duty tax back to 5% for example is a sign that things are moving again in the right direction. The positive effects of this reversal are beginning to be felt in the real estate market but are likely to filter through more strongly towards the end of 2007.  It is not only tourism that is driving the real estate market in Belize - a large number of investors are buying for future retirement.  Belize stands out in this regard as you don’t have to scrimp on amenities and infrastructure quality to get an affordable property, as can be the case elsewhere in the region. 

Related posts:

1. Is Belize ‘the next big thing’ in Caribbean real estate?