belize property bargains amass from developers relieved the worst is over
News Posted On: 16 October 2009
Belize property prices became falsely inflated because of the high volume of speculative investors purchasing property in the country, now they have dropped and returning buyers are finding some good bargains in the country it has been claimed.
Liam Bailey, director of Write About Property has said that the Island's low living costs, and perfect Caribbean location outside the hurricane belt, as well as English being the first language made it very popular with speculative overseas investors forcing prices up far too quickly to be sustained.
"Belize property prices grew far more quickly than the other countries in the region, even the countries that were also popular with foreign investors. This is because Belize became the most popular in the region, mostly because English is the first language on the island, because living costs are among the lowest in the region and because of its bright economic future -- not to mention its Caribbean climate tucked safely away outside the hurricane belt," he said.
Bailey also mentioned the fact that Belizean waters hold the largest coral reef in the southern hemisphere, and also has among the largest concentration of Mayan ruins and sites to explore.
"Such massive price inflation was great at the time, especially because everyone thought the internet would ensure a constant supply of foreign buyers. Everyone was very shocked to find out how wrong they had been; the rapid disappearance of foreign buyers saw property sales on the island, especially in the luxury and off plan sectors plummet. The foreign buyers that are now returning are finding discounts from developers a lot more willing to make deals than before," Bailey concluded.
"Don't be afraid to haggle, I have heard stories of people getting penthouse suites with sea-views for the price of a mid-level apartment with no-view to speak of," he added.
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