What's the price of a home, condo or apartment in Ambergris Caye?

The prices for a home, condo or apartment vary a lot here on Ambergris Caye. Real estate prices here on Ambergris Caye are a lot higher than you will find on the mainland of Belize. If you are planning to live here full time, you can buy places like a home or a condo for about US $100,000 to $150,000. For $100,000 you will get something that is not so new and a little bit away from town.

 

You have to go to a proper developer and actually check that what...

The prices for a home, condo or apartment vary a lot here on Ambergris Caye. Real estate prices here on Ambergris Caye are a lot higher than you will find on the mainland of Belize. If you are planning to live here full time, you can buy places like a home or a condo for about US $100,000 to $150,000. For $100,000 you will get something that is not so new and a little bit away from town.

 

You have to go to a proper developer and actually check that what you’re buying suits your needs. If you want to be beachfront, you can get something starting at $250,000 and going upwards thereof. There are a lot of properties that sit around the $400,000 to $500,000 mark that are beachfront. There are also some condominiums that sit on the $400,000 to $500,000 mark that are all beachfront and are situated in nice communities.

 

If you want to buy real estate in Ambergris Caye, you really have to come and look around. Renting for a few months is always a very good advice so you can see which part of the island fits you best.  For example, you might find that the island life is not really for you and you might really like the tranquility of the jungle and just come to the island for holidays.

 

At Perla Escondida, a condo complex in Ambergris Caye with 24 units, an 800 square foot unit with 2 bedrooms and 1 bathroom sells for US $200,000. It’s about a mile from San Pedro town center and it’s right on the beach, so it has an ocean view. They have a swimming pool. You can do your morning exercise, go 15 minutes to the center of town and have breakfast at Estelli. (They serve breakfast at Estelli all day. If you go out at 4 PM, you can still get breakfast at...

At Perla Escondida, a condo complex in Ambergris Caye with 24 units, an 800 square foot unit with 2 bedrooms and 1 bathroom sells for US $200,000. It’s about a mile from San Pedro town center and it’s right on the beach, so it has an ocean view. They have a swimming pool. You can do your morning exercise, go 15 minutes to the center of town and have breakfast at Estelli. (They serve breakfast at Estelli all day. If you go out at 4 PM, you can still get breakfast at Estelli, right on the beach with the breeze.)

 

We also have higher end condos on the beachfront, for $1.2 million. We are starting to get developments off the beach or at the back.  For example, in my neighborhood, there is the Mango House. On the next street, there is Hacienda, which is also a condo complex built by the same guy who built Perla Escondida, so it involves the same designs. A 2-bedroom unit there would be around $150,000 or $160,000. It is located a mile south of San Pedro Town and it’s about 10 minutes away from the sea. If you buy in this location, it saves you about $40,000 to $50,000 and you will be in a much quieter neighborhood.

 

There are also houses here. We just sold one to a guy from Alaska. It’s a 2-bedroom 2-bathroom, 1,200 square foot concrete house that sold for $250,000.

 

(Two independent living layouts and swimming pool of the Mango House, Ambergris Caye, Belize, pictured.)

The average price for a home, condo or apartment in Ambergris Caye is about US $350,000 for a 2-bedroom condo. The $350,000 unit might have been built 10 or 15 years ago, Some places cost more.  For example, for Diamante, we charge $700,000 for a 2-bedroom condo, but Diamante is being built now.  Also, Diamante has all high-end fixtures, tiles, granite tops, etc.

 

Both places would be on the ocean, probably not in town. We are the...

The average price for a home, condo or apartment in Ambergris Caye is about US $350,000 for a 2-bedroom condo. The $350,000 unit might have been built 10 or 15 years ago, Some places cost more.  For example, for Diamante, we charge $700,000 for a 2-bedroom condo, but Diamante is being built now.  Also, Diamante has all high-end fixtures, tiles, granite tops, etc.

 

Both places would be on the ocean, probably not in town. We are the only construction development right now in town core (San Pedro; the only town on the island of Ambergris Caye).   The others are taking place either north or south of San Pedro.

 

Most average 2-bedroom condos are about 1,500 square feet.  Diamante is at the high end. People pay more for a development like Diamante for several reasons.  My real estate teacher in Houston said that the most important component to value in real estate is “location, location, location.”  Diamante is the only development right now in town core and it’s the only piece of property that was left undeveloped in the town because my mom had it for 35 years. That’s a big plus.  The closer you are to town the more expensive the property is.

 

Diamante has a lot of things that other construction projects haven’t even thought about.  For example, and I’m not 100% sure of this, but I believe that Diamante is the only construction that has a dry ice system for fire -- every floor is going to have its own fire hydrant.  Our windows are top of the line, hurricane resistant, because of the look of the development. We don’t want to have hurricane shutters that you need to install during hurricane season in case there’s one coming; the windows themselves are hurricane resistant. The type of construction that we’re doing with the Panel W system is different.  Panel W is 4 to 6 inch Styrofoam panels that have wire mesh surrounding the panel.  It’s Dade County approved and it is designed to be stronger than using regular cement blocks. You get the insulation properties as well.  There are two or three other projects in town that are just starting to do that kind of construction. All our tiles, fixtures, and cabinets are all imported or high end. All of our appliances are stainless steel, imported appliances.

 

All in all, there are a lot of things that we’re doing differently. Diamante is new construction and the price of construction has gone up over the last 10 years. Most of the condos that are on the island are either for sale or re-sale are about anywhere from 8 to 12 years old. 

 

We’re not putting any restaurants in the development itself because we are in town core. Literally right next to us is the Blue Water Grill, which is one of the most popular restaurants in town. In front us we have another really quaint little bar. We’re walking distance to everything.

 

Our development has 3 pools. We’re going to have a small kitchen that will provide pool service, and a small little bar, but it’s just going to be mainly for guests.  

 

(Hurricane resistant windows in bedroom overlooking the Caribbean Sea in the Diamante development, San Pedro, Ambergris Caye, Belize, pictured.)

In Ambergris Caye, you can get a very basic one bedroom apartment from US $100,000 to $200,000 for a 600 square foot unit or smaller. The price moves on out from there depending on the amenities, the size of the resort, and the quality and history of the resort. You can also buy properties well into the million dollar range. 

 

Typically, a small condo or a studio, like a small hotel room with a small kitchenette, ranges from $100,000 to $250,000 for...

In Ambergris Caye, you can get a very basic one bedroom apartment from US $100,000 to $200,000 for a 600 square foot unit or smaller. The price moves on out from there depending on the amenities, the size of the resort, and the quality and history of the resort. You can also buy properties well into the million dollar range. 

 

Typically, a small condo or a studio, like a small hotel room with a small kitchenette, ranges from $100,000 to $250,000 for units as large as 1,500 square feet. For a budget of $100,000, you would typically get just a room in a development that probably doesn’t have a lot of amenities or located in the area of the island that is less accessible and less frequently visited or it could be an older building. For a budget of $250,000, you could get a one-bedroom or a two-bedroom apartment in a building with not a lot of amenities. Amenities are what typically drive up property value. If there is a restaurant, a pool, a gym, or if you are beachfront then it would cost more.

 

For a three-bedroom, two-bathroom, 2,000 square foot home, if you are purchasing the land that is not beachfront but in a good developed area, typically, would cost around $150,000 to $250,000 for the land. To build a home is very similar to prices in North America. Materials cost more here in Ambergris Caye but labor costs less so in the end, it balances out to be typically the same as what you are looking at in North America. You could, in theory, buy a 50 by 70 piece of land that is off the beach and build a 2,000 square foot home on it for less than $300,000, all-in.

 

The condos have established rental programs in place already so they are income generators, which is why their prices tend to be higher because most people do not tend to live in their units full time. Some people come down here for 6 months at a time and they rent the unit out for another 6 months. There are usually additional costs that are associated with it as opposed to owning a private property yourself.  

 

(Condo walking distance to bars and restaurants in San Pedro, Ambergris Caye, Belize, pictured.)