During years and times past, Belize has always been considered a great place to vacation, from the U.S., Canada, Europe and the world. After all, english speaking country, U.S. dollar, lots of sunshine and beaches. Not only are there awesome resorts, but since the boom of AirBnB, and other sites, tones of rental homes purchased and owned by Expats, who visited a few weeks a year, and gained rental income the rest of the year.
It just seemed the thing to do as an Expat “Investor”.
Well, as I have watched the Placencia peninsula over the past eight years or so, I have seen a change. Some may say it’s the “8 year cycle”, time to move on by many Expats who are putting their houses on the market. If you have seen the Realty Sign’s go up, and “SOLD” signs quickly follow, there were just as many people coming down to buy homes, then ones selling here to move elsewhere.
One very interesting thing I have watched, is many of those homes that were owned as investment rentals by “absentee owners”, and owners who just came down 2-4 weeks per year, are now being purchased by North Americans that are selling homes up North, packing everything, and moving here full time. Established houses in the Maya Beach and North locations are being purchased and moved into permanently.
This “trend” appears to be continuing, and we are quickly running out of established homes for sale.
When I came down to the peninsula some 9 years ago looking for a building lot on the sea, between Placencia Village and Plantation, I had a list of over 35 buildable lots to choose from on the beach. As of today, just in Maya Beach, there are only two available, for now for sale. Drive up or down the peninsula, and you will see almost every lot has a “under contact or SOLD” sign on it. Many are already being built on.
And I suspect many of these are being built by new homeowners, to live in.
I also suspect that days ahead will be occupied by the resorts upgrading and preparing for the comeback of the tourist industry, in many cases replacing the AirBnB’s and such. Although the Condo’s, especially on the Placencia Peninsula have not been a major influence, or in buyers “scopes” very often, they may soon become an important part of the vacation rental pool.
All I can say, is that over the past six years or so, I have watched the Maya Beach Community change from a “part time” neighborhood, to a full-time residential neighborhood. Everybody and I mean everybody knows everybody. The new “kids on the block” to the “old timers”. And as far as “new kids”, that’s another interesting trend. The average age of couples and singles moving here has changed, fro the 60+ down to the late 40’s-early 50’s. They all say they are “looking for something better”, and as those of us that already moved here know,
Belize Cane Be That Place.
Of course, I will say, this is all my opinion, based on my observation. Of course, looking “over the shoulder” of one of the busiest Realtors on the Placencia peninsula influenced me a bit, I do keep my eyes and ears open from time to time.
Cheers my friends,