Archive for the ‘Belize in the news’ Category
Is Belize ‘the next big thing’ in Caribbean real estate?
Saturday, February 10th, 2007Belize is managing to combine the opportunity for investors to participate in both a rapidly growing tourism market and an emerging second home retirement destination. Although more affordable than other Caribbean destinations, this is not at the expense of local amenities and services – something that sets it apart from more speculative offerings elsewhere. Certain regions could be described as a ‘mezzo market – a term coined by International Living to describe markets that are not quite emerging; not quite developed. The risk/reward profile is perhaps more comfortable than purely speculative real estate markets elsewhere in Central America.
As you might expect, continued growth in tourism, environmental preservation and infrastructure improvement are important factors in the future success of the real estate market in Belize. Indications are good. The country has a progressive Tourism ministry that has been successful in putting Belize firmly on the map as a tourism destination. As the 2005 Moon Handbook puts it, ˜Belize is the only country within the Caribbean to experience consistent increases with respect to overall tourist arrivals since 1998.” Places like Ambergris Caye are key magnets for tourism and this reach is expanding into the luxury end of tourism, a trend helped by a number of celebrity real estate purchases in the country. We will shortly be reviewing tourism data for 2006 which will help put the trends into context.
San Pedro Sun – San Pedro Street Project A Reality
Sunday, February 4th, 2007The road conditions on Ambergris Caye are improving starting with two major sections in downtown San Pedro.
http://www.sanpedrosun.net/07-051.html
San Pedro Town, a beautiful piece of paradise situated in the Caribbean is blooming with beauty and charm. Nevertheless, the rainy season leaves the streets filled with potholes and mud, while during the dry season the air is thick with dust. However, those issues will be a problem of the past.
On January 29th, 2007, the San Pedro Town Council called an urgent town meeting. The purpose: to discuss the street rehabilitation projects and the details pertaining to their visit with Prime Minister Said Musa and Financial Secretary Carla Barnett, which took place on January 25th, 2007 at the Prime Minister’s office. Although attendance was minimal, the head table had good news for the community; both the Southern Road and Barrier Reef Drive will soon be restored and both will be cobble stoned.
Sitting at the head table were Mayor of San Pedro Town Elsa Paz, Belize Rural South Area Representative Honorable Manuel Heredia Jr., and councilors.
Barrier Reef Drive
The Barrier Reef Drive Rehabilitation Project is scheduled to commence this weekend, perhaps as soon as Thursday, commented San Pedro Mayor Elsa Paz to a group of concerned citizens. The project, which will carry a $1.7 million price tag, will be carried out by Medina’s Construction Company Limited, the same company that was hired for the Coconut Drive Rehabilitation Project and the building of the San Pedro Bridge.
The Barrier Reef Rehabilitation Project will include cobble stoning of all of Front Street, as well as the side streets that have yet to be cobble stoned. It will include drainage and a pedestrian walk, same as the one found on Pescador Drive. The monies collected from Property, Trade and Liquor taxes will be used to fund this projec.
However, the money collected from these taxes will not be enough. We are selling some acres of land that belong to the San Pedro Town Council (SPTC) in order to help us fund both these projects, commented Honorable Heredia, Jr. The properties that Honorable Heredia spoke of are 500 acres of land between Journey’s End Resort and Buena Vista in North Ambergris Caye. However, some of this land was sold in 2005 when the Pescador Drive Project needed extra funding. Read the rest of this entry »
