Belize tourism is booming, and as a direct result, real estate sales are prospering. For the first half of 2019, the country had a 6 percent increase in overnight visitors over the same period of 2018. Additionally, Orchid Bay, as well as other areas, such as San Pedro and Placencia, are experiencing record home sales. Orchid Bay, alone, had a total of 18 homes go under contract between January and July this year.
There’s no doubt that Belize is one of the fastest-growing tropical vacation destinations in the world, offering visitors a mix of diverse cultures, eco-tourism, spectacular natural beauty, adventure, and ancient historical sites.
Corozal-Sarteneja Road Project
As tourism and real estate continue its upward trend, Belize is making a significant investment in its tourism product. The latest is the $50 million Corozal-Sarteneja Road Project, which also includes the construction of the Pueblo Nuevo and Laguna Seca bridges. Ground is expected to be broken on the project in mid-October 2019.
This latest development will significantly improve the transportation network in Northern Belize, and will positively impact the overall growth and prosperity of Belize.
Paving the Way to Orchid Bay
What does this mean for Orchid Bay residents and visitors? This is terrific news because it paves the road and installs bridges between Orchid Bay, Corozal, and Sarteneja, which gives residents and visitors quicker and easier access to get to the property and to travel within the country. The regional airport in Northern Belize will be just minutes away.
Belize Tourism Investments
The Sarteneja Road project is just one of several projects underway this year in Belize. In 2012, the government launched the National Sustainable Tourism Master Plan (NSTMP), which became the strategic guideline for tourism development in Belize up to 2030.
New developments in 2019 that fall under NSTMP include the Orange Walk Heritage Trail Project, which provides for the design and installation of signs at different historical areas in Northern Belize.
Another NSTMP project is the construction of a 50-person capacity, octagon-shaped shed at St. Herman’s Blue Hole National Park. Here, visitors will be able to enjoy caving, the lookout tower, swimming and bird watching, which is quickly becoming a popular niche in Belize.
Then there’s the NSTMP Boca del Rio project, which is the beachfront construction of a 10,000-square foot swimming area and reinforced seawall in San Pedro.
Additionally, construction has started this month on the new Caye Caulker Craft Market, which is part of Belize’s strategic plan to enhance its tourism product for the enjoyment of both visitors and Belizeans alike and also to promote Belize’s cultural appeal.
Real Estate: Why Now is a Great Time to Buy
Belize continues to show impressive growth as a top travel destination, and tourism improvements continue to be underway, especially in Corozal, the Northern region where Orchid Bay is located. This means that now might be the best time to buy real estate in the area, and it’s where many investors, retirees, and vacation homeowners are choosing to invest.
It also helps that Belize offers many incentives for home buyers, including low property taxes, no estate or capital gains taxes, 100% foreign ownership, and the country’s Qualified Retirement Program.
Why Buy at Orchid Bay?
Developed by Legacy Global Development, Orchid Bay is a gated community located on the Bay of Chetumal. It offers homeowners exquisite scenery, first-class amenities, and modern conveniences. And now, with the new Corozal-Sarteneja Road Project, residents will have quick and easy access to the best of Belize's offerings.
Orchid Bay’s master plan calls for a series of canals and basins for easy navigation around the community, first-world infrastructure, and 10 percent green space set aside. Buyers have many types of homes to choose from, including Beachfront Condominiums, Beach Villas, and Bungalows.
On-site amenities include the Tradewinds Beach Club and Restaurant, and will soon include a 7,700-square foot beach club with multiple swimming pools, a gym, restaurant, bar, lounging decks, and private beach access, which is currently in the planning stages. An on-site grocery store and medical clinic are also projected to open in the future.
Contact Orchid Bay today so you can learn more about the benefits of investing in Belize real estate, and why now is the best time to buy.