Say Belize, please, for bargains on Caribbean luxury

Miami /
Nov.November 22, 2015 03:00 PM

Belize is an under-the-radar bargain in the market for Caribbean real estate, according to a new report by an affiliate of Christie’s International Real Estate.

Christie’s affiliate Sancas Realty suggests in its report that Belize has the potential to become a leading destination for wealthy buyers of luxury villas and beachfront homes.

The report detailed several lures of luxury homes in Belize.

For starters, the fixed exchange rate of the Belizean dollar against the U.S. dollar is two-to-one. Gil Castillo, president of Sancas Realty, said in the report, “American buyers can be assured that their investment in Belize real estate will continue to appreciate on pace with the U.S. dollar.”

Luxury homes in Belize have an average price under $1 million. Starting prices for luxury homes in markets worldwide average $2 million, according to Christie’s, which relies on local standards to define properties as luxury homes.

Infrastructure upgrades and low property taxes in Belize also have supported the development of luxury homes there.

Major air carriers have added flights to Belize from hub cities including Panama City, Panama, as well as Los Angeles and Houston.

Sancas Realty also reported that foreign nationals already account for 95 percent or more of the luxury-home purchases in Belize in beachfront locations. [Mansion Global] — Mike Seemuth  


Related Articles

arrow_forward_ios
Todd Michael Glaser and Nelson Gonzalez with 31 La Gorce Circle (Sonya Revell, Nelson Gonzalez)
Glaser, partners buy non-waterfront La Gorce teardown for $8M
Glaser, partners buy non-waterfront La Gorce teardown for $8M
Christian Slater with 3618 Saint Gaudens Road (Getty Images, 1oak Studios)
Christian Slater sells Coconut Grove home after three-way bidding war
Christian Slater sells Coconut Grove home after three-way bidding war
From left: Sandra Fiorenzo and Heinrich Von Hanau with 1003 and 1004 Links Estates Drive
Heinrich Von Hanau sells two Links Estates lots for $13M
Heinrich Von Hanau sells two Links Estates lots for $13M
(Photo Illustration by The Real Deal with Getty Images)
Want more South Florida land? Buy out your neighbors
Want more South Florida land? Buy out your neighbors
A photo illustration of 12203 Tillinghast Circle in Palm Beach Gardens (top) and 6300 North Bay Road in Miami Beach (Getty Images, Old Palm Golf Club, Coldwell Banker)
Flipping crazy: South Florida’s top resi flips of the year so far, ranked
Flipping crazy: South Florida’s top resi flips of the year so far, ranked
Ken Griffin in the center, with Brickell (right) and Palm Beach (below)
Ken Griffin’s Citadel comes to Brickell — and supercharges the market
Ken Griffin’s Citadel comes to Brickell — and supercharges the market
Companies principal Alan Macken with Koya Bay
Macken scores $16.5M construction loan for Koya Bay townhome development in North Miami Beach
Macken scores $16.5M construction loan for Koya Bay townhome development in North Miami Beach
Austin Rosen and 6417 Pine Tree Drive Circle (Zillow, Getty)
Hit repeat: Music exec Austin Rosen buys next-door waterfront Miami Beach home for $12.5M
Hit repeat: Music exec Austin Rosen buys next-door waterfront Miami Beach home for $12.5M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...