On their own, a group of HAR members organized a trade mission trip to the country of Belize last June. HAR International advisory group members on the trip included Susan Annoura and family, Pius Dawson and wife, Theresa Hill, Jane Byrd and family, and Ed Eakin. HAR member Josephine Barnes, and Dave McKamie from the MetroTex Association joined the group.
Why Belize?
NAR appointed HAR as the ambassador association to Belize in 2018, and with some great developer connections, several of us decided it was time to go and learn about all the real estate opportunities in Belize and build relationships with local real estate agents there. The population for the entire country is around 350,000 with less than 100 real estate agents. Did you know that English is the first language in Belize?
We flew into Belize International Airport and then flew on a smaller plane south to Placencia to start our adventure! Our itinerary during a few busy days included the annual Lobsterfest celebration, touring several large property developments, ziplining, cave rafting, a chocolate factory tour, shopping and a dinner at Rumfish.
Real estate meetings started with breakfast on the beach with our friend Boris Mannsfeld of Boris Mannsfeld and Associates, a longtime broker in Placencia. Boris has been splitting his time between Placencia and Denver for the last 25 years. He was happy to share information about the incredible growth that has been happening the last few years in Belize, especially in Placencia. We also talked about the process of buying and selling real estate. After breakfast, we toured properties with one of Boris’s associates until the battery died on our vehicle and we had to hitch a ride in the back of a pickup truck to the hotel. As Susan Annoura was jumping into the back of the truck, she commented, “We never get to ride in the back of a truck in Texas!”
Our next stop was all about experiencing the local culture in downtown Placencia for their annual Lobsterfest. The local residents put up tents with their artwork, crafts and, of course, lobsters. As we all walked down the boardwalk, some of us enjoyed more than one lobster, music and a few landsharks!
After plenty of sun and laughs, we all headed back to our hotel to rest up before dinner.
Friday night was an “All White Party” with Itz’ana Belize Resort and Residences developer Bryant McClain and few of their property owners. Upon arrival at Itz’ana, Shaylene Todd – Sales Manager, met us at their great house to share the story of Placencia’s premier development. As we toured their amazing beach front villas, our group had a great opportunity to pose for a picture to show off our attire for the night next to the pool.
While I had previously shared with the group we would be having a spectacular dinner, I believe it was the best seven course dinner most of us have ever experienced. The chef’s many creations with lobster were amazing!
The next day, we headed north to Ambergris Caye to meet Rachel Jensen with ECI Development and tour their new Marriott project on Exotic Caye. While most of us knew Rachel and her project on Ambergris Caye from her numerous visits to Texas, it was our first time to stand on the actual site where they were beginning construction. The location is awesome and within walking distance to just about everything!
Next up was Lobsterfest yet again, this time in downtown Ambergris. More music, artists with their crafts and unlimited lobsters. Macarena Rose of Keller Williams and Belize’s most famous CIPS met up with everyone as we invited her to come with us the next morning for our next property tour.
On Sunday morning, I was excited to share another project with the group that I have been working on this year with Bryant McClain – MARGARITAVILLE!
We all jumped on a boat for a 30-minute ride down to see Jimmy Buffett’s newest resort and residences. It was a great tour and I look forward to seeing it when complete.
After our tour, Bryant set up lunch with a couple of the bigger brokers on the island. We had a good time learning about life as a real estate agent on Ambergris and building relationships with the local agents.
Our next two days included more fun adventures: snorkeling with Nerf sharks, fishing, BBQ-ing on the beach, sailing at sundown, meetings with brokers and touring another Marriott development.
Belize is currently one the hottest investments in the Caribbean. The good news is that buying property in Belize appears to pose a very low risk. Even better, Belize does not impose capital gains taxes or income taxes from property or other forms of income. One might feel confident buying Belize real estate because the government is stable, there are no currency fluctuations and expatriates have no concerns about who owns property once it’s purchased. A major incentive to live and invest here seems to revolve around 100% foreign ownership of land and company asset laws in favor of ex-patriots.
A great time was had by all in Belize and we hope to return soon! (The opinions expressed in this article are the author’s and should not be construed as investment advice.)
