Real Estate Transaction Growth in Belize 2019 to 2021
While there is no nationwide MLS for Belize to track sales data, RE/MAX is the largest real estate company in Belize with 75 agents in 9 offices, and I am pleased to share the stats for RE/MAX Belize.
Total sales volume increased 8.7% from 2019 to 2020, followed by a staggering 167.7% from 2020 through just the first eight months (August) of 2021. (Based on current year-end projections, sales volume is projected to increase by 301.5% year-over-year from 2020 through 2021.)
From the beginning of 2020, at the start of the COVID pandemic, through August 2021, the total Belize real estate sales volume has increased by 190.94%.
For RE/MAX Belize, the market has seen $183 million of sold real estate since the beginning of the pandemic and has exceeded 2019 total sales volumes by 300% (299.6%).
Potential buyers are increasingly younger with the early ‘40s to early ‘50s being the sweet spot. Most buyers are from the US and Canada, and while numbers for Canadian buyers are down due to travel restrictions out of Canada, the growth in US buyers has more than made up for it. Among the top reasons for considering Belize for second homeownership:
- allows diversification outside the USA
- provides a safe secure alternative during societal unrest
- the only English speaking country in Central America
- close geographic proximity to the USA
- no capital gains tax, very low property taxes
- idyllic Caribbean climate
- world-class fishing, diving, snorkeling, and watersports
As John Turley Owner of RE/MAX Caribbean & Central America stated, second home ownership in Belize is like “going abroad with training wheels”. It’s a very safe and easy experience, and the number one comment from those who have done it is that they wish they had done so sooner.