Nate Womack
CA DRE# 01369153
+501-633-0880
925-954-5040 (US)
nate@nateinbelize.com
CA DRE# 01369153
+501-633-0880
925-954-5040 (US)
nate@nateinbelize.com
Nate's Neighborhood Notes
January 2022
New Bridge for San Pedro is a GO!
It was announced back in August, that construction on the new bridge that connects the town of San Pedro to the northern part of the island, would begin by the end of 2021. There were updates to the project in early December with the same time commitment, but with "Belize Time", you never know when something may begin OR be completed. Well, it has begun! The new bridge is going to be constructed, just west of the existing bridge and will connect in what is now part of the Sagebrush Church parking lot. Initially, it was said that the after the new bridge was completed, the existing bridge would be repaired, but now it looks like it is going to be dismantled and then another new one built.
Back in July, the town council announced that there would be new toll fees for the bridge and those fees are now being enforced.
For more details, click here.
It was announced back in August, that construction on the new bridge that connects the town of San Pedro to the northern part of the island, would begin by the end of 2021. There were updates to the project in early December with the same time commitment, but with "Belize Time", you never know when something may begin OR be completed. Well, it has begun! The new bridge is going to be constructed, just west of the existing bridge and will connect in what is now part of the Sagebrush Church parking lot. Initially, it was said that the after the new bridge was completed, the existing bridge would be repaired, but now it looks like it is going to be dismantled and then another new one built.
Back in July, the town council announced that there would be new toll fees for the bridge and those fees are now being enforced.
For more details, click here.
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Real Estate in 2022
While no one can predict what will happen to real estate in 2022, particularly on an island in the caribbean, there are factors that happened in 2021 that might help in your decision making in regards to purchasing something here in 2022.
Sales Activity
Sales activity increased greatly in 2022. Much like the US but maybe not for the same reasons. Covid stopped the world when it came to real estate transactions. Since most of the buyers in Belize come from the US and Canada. The political climate, the want for a change, and maybe a chance to live more in the moment rather than waiting for retirement influenced many in making a decision to buy and even sell in 2021.
More Access to Belize
When I mean access, I mean flights! There are currently 11 international carriers that came into Belize in 2021 (see map below). Two new carriers (Alaska and Frontier) now make it easier for those on the west coast and Florida. More flights should also mean lower cost flights, which mean more people should be able to access all of what Belize has to offer. Cruise lines also make a part of this as they again started to arrive in August of 2021.
New Developments and More to Come
Particularly on Ambergris Caye, the developments that opened last year, seem to have had great success in early and continuing sales. A few of those developments have already had price increases from their initial offerings. Others are adding buildings/new phases due to the demand. Some developments will be completed in 2022, which will add more opportunities to investors.
Visitors are Back
While nothing is official, it looks like "high season" is off to a great start. I must say, with the exception of the additional traffic, it was great to see the crowds returning to San Pedro the last couple of weeks. It's a great boost to the economy and a relief for many workers that count on tourism dollars for their families. While this is great for San Pedro and Ambergris Caye, I'm not sure how busy other parts of the country are doing, when it comes to increased visitors. I was shocked to hear that Placencia doesn't seem to be that busy, but I do real estate sales are occurring.
Secret Beach Area Continues Growth
If you haven't been there in a while, you will notice quite a few more homes existing or under construction in the Secret Beach area (including Grand Belizean Estates). There have been some changes to the commercial properties and the addition of the Secret Beach Water Park Bar & Grille,
a property that has changed the landscape and will add much needed diverse activities when it fully opens in early 2022.
Belize in Social Media
With appearances from Simone Biles (she has made several in 2021), Bill Gates, and just recently, Kanye West (to name a few), Belize continues to be a more desired destination amongst celebrities. Also, I have noticed that with the new developments opening up more influencers are showing off what Belize has to offer on social media. In particular, I remembered seeing much of that when Alaia, an autograph collection by Marriott, opened just south of town in May. It was a bit strange to see models and tripods setting up at check-in, but I did actually witness it myself.
So for 2022, hold on to your hats! Inventory is significantly lower than this time last year. If you are thinking of buying or selling, you should be working with someone here that knows the market and can give you options when needed. I would be happy to help! There will be new developments and buying opportunities that will be available in 2022! If you are interested, you should be getting ready now. I can help you, if you need some direction because the opportunities may not last long.
Happy New Year!
While no one can predict what will happen to real estate in 2022, particularly on an island in the caribbean, there are factors that happened in 2021 that might help in your decision making in regards to purchasing something here in 2022.
Sales Activity
Sales activity increased greatly in 2022. Much like the US but maybe not for the same reasons. Covid stopped the world when it came to real estate transactions. Since most of the buyers in Belize come from the US and Canada. The political climate, the want for a change, and maybe a chance to live more in the moment rather than waiting for retirement influenced many in making a decision to buy and even sell in 2021.
More Access to Belize
When I mean access, I mean flights! There are currently 11 international carriers that came into Belize in 2021 (see map below). Two new carriers (Alaska and Frontier) now make it easier for those on the west coast and Florida. More flights should also mean lower cost flights, which mean more people should be able to access all of what Belize has to offer. Cruise lines also make a part of this as they again started to arrive in August of 2021.
New Developments and More to Come
Particularly on Ambergris Caye, the developments that opened last year, seem to have had great success in early and continuing sales. A few of those developments have already had price increases from their initial offerings. Others are adding buildings/new phases due to the demand. Some developments will be completed in 2022, which will add more opportunities to investors.
Visitors are Back
While nothing is official, it looks like "high season" is off to a great start. I must say, with the exception of the additional traffic, it was great to see the crowds returning to San Pedro the last couple of weeks. It's a great boost to the economy and a relief for many workers that count on tourism dollars for their families. While this is great for San Pedro and Ambergris Caye, I'm not sure how busy other parts of the country are doing, when it comes to increased visitors. I was shocked to hear that Placencia doesn't seem to be that busy, but I do real estate sales are occurring.
Secret Beach Area Continues Growth
If you haven't been there in a while, you will notice quite a few more homes existing or under construction in the Secret Beach area (including Grand Belizean Estates). There have been some changes to the commercial properties and the addition of the Secret Beach Water Park Bar & Grille,
a property that has changed the landscape and will add much needed diverse activities when it fully opens in early 2022.
Belize in Social Media
With appearances from Simone Biles (she has made several in 2021), Bill Gates, and just recently, Kanye West (to name a few), Belize continues to be a more desired destination amongst celebrities. Also, I have noticed that with the new developments opening up more influencers are showing off what Belize has to offer on social media. In particular, I remembered seeing much of that when Alaia, an autograph collection by Marriott, opened just south of town in May. It was a bit strange to see models and tripods setting up at check-in, but I did actually witness it myself.
So for 2022, hold on to your hats! Inventory is significantly lower than this time last year. If you are thinking of buying or selling, you should be working with someone here that knows the market and can give you options when needed. I would be happy to help! There will be new developments and buying opportunities that will be available in 2022! If you are interested, you should be getting ready now. I can help you, if you need some direction because the opportunities may not last long.
Happy New Year!
Macal River
Margie and Kenny's on Coconut Dr.
New Restaurants/Bars Open Before Year's End of 2021
With Covid-19 on the decline and commercial real estate sales increasing, many new restaurants/bars opened or re-opened under new management/ownership, by the end of the year.
Here are just a few: Corona del Mar (new ownership), Margie and Kenny's (worker's from Seahorse Sports Lounge), Rehab/Jaguars (new ownership), The Ol' Tackle Box, The Thirsty Tarpon, The Cork & Cooperage, and The Island's Jungle Restaurant & Bar (former Camo Cantina on Sea Grape Dr.). There are many that are not mentioned so be sure and look around on your visit to see and experience what's new in San Pedro.
With Covid-19 on the decline and commercial real estate sales increasing, many new restaurants/bars opened or re-opened under new management/ownership, by the end of the year.
Here are just a few: Corona del Mar (new ownership), Margie and Kenny's (worker's from Seahorse Sports Lounge), Rehab/Jaguars (new ownership), The Ol' Tackle Box, The Thirsty Tarpon, The Cork & Cooperage, and The Island's Jungle Restaurant & Bar (former Camo Cantina on Sea Grape Dr.). There are many that are not mentioned so be sure and look around on your visit to see and experience what's new in San Pedro.
Corona Del Mar (new owner)
Rehab (Jaguars to open when government allows, new owners)
The Ol' Tackle Box.(formerly The Melt, but originally The Tackle Box)
The Thristy Tarpon (formerly Cholos).
Photo taken 1-02-2022
