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.)