It’s not unusual for people to visit Belize and fall in love with the country. Sometimes they decide it’s the ideal place to retire.
Among the many wonderful places to visit and live in the nation, people find the Cayo District to be one of the most desirable. This makes it a prime location for real estate opportunities as well as a great place to live.
Here are some essentials that you should know about the Cayo District.
Basic Information About the Cayo District
If there is any place in the world that offers the wonders of nature alongside the amenities of modern living, it’s the Cayo District.
The district itself is home to the nation’s capital city, Belmopan. While still considered a small city when compared to the world’s major metropolitan areas, it’s the site of consistent population growth.
Once considered primarily the home to government employees, a number of immigrants have settled in the city and the surrounding area.
With Belmopan and the surrounding area accounting for roughly 20,000 residents, the Cayo District is home to slightly over 75,000 people.
With around 2,000 miles of territory, it’s possible to enjoy plenty of privacy in relatively undeveloped areas or enjoy the market’s entertainment and other benefits found in the various cities and towns.
People who speak English and/or Spanish will find communicating in the District to be simple. Many residents speak both languages, which is great for tourists.
There’s also a sprinkling of other languages used throughout the District. That includes the use of some Mayan phrases that have found their way into the local vernacular.
What’s the Weather Like?
Compared to a number of places around the world, the weather in the Cayo District tends to be consistent.
People who visit or choose to settle there can expect the summers to be somewhat short. During the summer season, the temperature will be higher, although it rarely exceeds 98°F.
Those who are used to humidity will feel at home during this season. While there is sunshine throughout the season, it’s not unusual for at least part of the day to be overcast.
During the remainder of the year, the temperature rarely dips below the average of 59°F. The winter months tend to bring more rain than the summer ones, but there are still plenty of clear days.
In terms of the humidity, it’s still present. You will notice that it tends to be less humid outside of the summer months.
What Are the Major Population Centers?
Along with Belmopan, there are a few other population centers of note. One of them is San Ignacio Town.
As the district capital, San Ignacio Town is also something of a hub for government employees. Like Belmopan, you can find plenty of open-air markets, shopping opportunities, and the benefits of modern living.
There are a number of smaller towns that also provide homes and plenty of amenities to their citizens.
A few that attract attention from tourists and home seekers alike include More Tomorrow, Georgeville, San Jose Succotz, and Spanish Lookout.
You may also want to look for residential and commercial opportunities in villages like St. Margaret, Bullet Tree Falls, and Blackman Eddy.
Things to See And Do in the Cayo District
Comfortable living in the cities, towns, and villages is only the beginning for the Cayo District. There’s also plenty of nature and history to enjoy.
Within the district, you have access to a number of waterways, caves, mountains, rolling plains, and some of the most beautiful waterfalls in the world.
The Thousand Foot Falls is considered the largest waterfall in Central America.
Those who love history will find a number of ancient Mayan sites around the District. They include Xunantunich and Caracol.
In between enjoying the sites, there’s always plenty of restaurants to visit, along with entertainment and nightlife in the more densely populated areas.
The Real Estate Market in the Cayo District
During the first years of the current century, the real estate market in Belize was somewhat depressed. That was true in the Cayo District as well as other areas of the country.
In recent years, the market has rebounded and experiences consistent growth from one year to the next.
A recent New York Times article notes that real estate sales in 2017 exceeded the combined sales of the previous five years, according to one prominent real estate professional.
Residential as well as commercial properties are seeing an increase in market value from one year to the next.
While it’s true that buying property now will mean a greater investment up front than prior to 2012, average prices for any type of real estate still remain well below averages in other countries, like the United States.
Reasons to Considering Investing in Real Estate in the Cayo District
There are several key reasons to consider buying real estate in the Cayo District. One of them has to do with the consistent market.
There’s a steady increase in value from one year to the next. Current projections do not indicate that will change.
Even if the plan were to purchase properties as nothing more than investments, there’s a high likelihood of being able to generate a reasonable profit by selling the property within five years.
Another reason is the increase in tourism. More people are visiting the District every year.
That translates into more home and apartment rentals to those who plan on spending several weeks or months in the country.
Opting to buy undeveloped property and construct rental units will provide steady income from one year to the next.
The sheer choices of locations also make the District an excellent choice for real estate. Whether buying homes and other forms of housing located near natural or historic sites or opting for developing properties in the suburbs of larger cities, the potential to generate significant returns from one year to the next is there.
Real estate opportunities in the Cayo District may require financing. Opting to work through a local institution will streamline the process and allow you to begin enjoying profits from the venture sooner rather than later.
From residential mortgages to loans designed to support the development of raw properties, the right partner will offer whatever you need.
Contact us for more information about real estate opportunities in Belize.