Real Estate Prices Dropping

The Ambergris Caye real estate market has been steady for many years. This tropical paradise is not only an ideal place to retire, but it also offers a variety of other attractions. In addition to the pristine beaches and turquoise water, Ambergris Caye is home to a diverse population. There are people of Spanish, Lebanese, Creole, Mestizo, and Chinese descent.

Ambergris Caye Real Estate is a popular destination for expats and retirees because of its year-round tropical climate, low cost of living, and active social life. It is also known for its crystal clear waters and its many activities for those who enjoy boating and other water sports. As a result, a number of people have decided to move to the island or relocate to it from other countries.

While there are still many undeveloped areas of the island, the local real estate market has become more developed. The town of San Pedro is the hub of the real estate market. People who move to the island usually do so for a job or retirement. If they aren’t working, they can easily spend their time on recreational activities such as surfing, snorkeling, and water skiing. Some residents even rent their condos out for the entire year.

Ambergris Caye Real Estate Prices Dropping

Real estate in Ambergris Caye is divided into three major sections. The north part of the island is largely undeveloped. However, new property developments are sprouting up along the Caribbean coastline. These new properties offer vacation rentals. They can also be a great investment.

When it comes to purchasing a home, buyers should consider the following:

Large luxury homes on Ambergris Caye are priced between US$1 million and millions of dollars. These larger properties typically offer private beach areas and high-end design. On the other hand, inland homes are valued at less than oceanfront properties.

One of the most popular regions for foreign homebuyers is the southern section of the island. There are schools on the southern section, as well. A two-bedroom condominium unit can be purchased for between US$350,000 and $700,000. A beachfront condominium is a great option for first-time buyers and seasoned investors. Most of the units have a high rental capacity and are relatively maintenance-free.

While the main city of San Pedro is the hub of the local real estate market, the south part of the island is starting to see an influx of development. New property developments are bringing more amenities to the area, including marinas. Additionally, a number of hotels are currently under construction. Several will open in the next few years.

As the island continues to grow, there are plenty of opportunities for investors. The most recent projects include a chain-based hotel, a golf course, and a boutique resort. Another large project will be the Four Seasons on Caye Chapel. For those interested in custom homes, there are 50 lots available.

With the rising popularity of the island, more people are choosing to relocate or retire. In fact, Ambergris Caye consistently ranks as one of the best retirement markets in the world.