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Luxury Real Estate in Placencia, Belize


By Timothy Scott

Real Estate in Placencia, Belize

The luxury real estate market of Placencia, Belize has gone from off-the-radar to blazing hot in the past few years, attracting foreign buyers looking for a warm slice of paradise in the tropics.

"Great places eventually get discovered," says the man behind Boris Mansfield Associates real estate operation in Belize. That's certainly on display on the Placencia Peninsula, where prices have risen nearly every year since I first visited in 2009, despite ongoing new development of lots, homes, and condos that has never let up for any length of time.

Placencia is not a secret anymore for luxury tropical home buyers. Early upscale hotel pioneers such as Turtle Inn and Chabil Mar near the village are still going strong, but they've been joined by dozens of new developments at various price points. More then a few of the visitors who came on vacation decided they liked it enough to put down roots. They told two friends, those told two friends, and both demand and prices have kept rising. Some come for the year-round warm weather, others for the laid-back vibe of the one-road peninsula, still more are attracted by the sun-and-fun beach and water access.

Midway down Belize's Caribbean coast, Placencia is a peninsula within the state of Stann Creek District. It's comprised of a 24-mile road that runs north and south along a 16-mile peninsula. Residential areas line the road, essentially (from south to north): the village of Placencia, Seine Bight, Maya Beach, and the Plantation area. There are luxury real estate opportunities in each area, with plenty of excellent restaurants, beach bars, resorts, a craft brewpub, and even a bowling alley.

Placencia, Belize real estate

Mansfield says, "I have been visiting, living and investing here on the peninsula for 30 years now. Many improvements have been made yet the charm, character and genuinely friendly people remain intact." Just come down with a proper budget though because prices here reflect the kind of purchases retirees and house-flippers have at their disposal after a major equity exit somewhere else. This is no longer an "off-the-radar hidden gem," no matter what the just-catching-up print magazines may say.

What's On Offer: Luxury Real Estate in Placencia

"A Beach home for a million dollars used to be a rarity. Now it is the norm," Mansfield says, adding, "if you can find one." An outdated 2- or 3-bedroom beach home priced at $700,000 will see quickly. A million bucks will get you a 3-4 bedroom beach home in what is not a prime location, he says. "Most high-end beach homes are selling for $1.3 — $1.5 million. We also have a spectacular one listed at $2.9 million."

Mansion in cocoplum Placencia, Belize

© Boris Mansfield Associates

That house is in the high-end Cocoplum development, next to the luxury Naia Resort. Cocoplum is a 224-acre subdivision that stretches from the ocean to the lagoon. There are a range of resale homes here, condos and lots of remaining lots for building. It has become the refuge of more than a few celebrities.

David Kafka of 1st Choice Belize gave up his landscaping business in Charleston, SC to move to Belize for a simpler and less expensive life for himself, wife, and daughter. In Placencia he found that and more. The opportunity arose to establish a RE/MAX real estate office in the small, upcoming town. The boom there managed to keep David, a distant relative of Franz Kafka it so happens, quite busy. In addition to his real estate business, he participates in community affairs, helping to Placencia a better place to live, as many expat residents do. He says that Placencia is a great place to live as a retiree, an infrequent vacationer, or as a family.

million dollar homes in Placencia, Belize
© Boris Mansfield Associates

He agrees that prices have been on an upward trajectory for a while. "Now you're looking at a $700,000 to $2 million range for beach houses," he says. "Away from the water it can still be in the $400k range," he adds, but those listings are getting harder to find.

Condos are more likely to be move-in ready and can sometimes offer more for the money. "A luxury 3-bedroom beach condo at an exclusive project like The Villas at Cocoplum will run $660,000," Mansfield says. "We have an amazing penthouse listed for $1.43 million."

Kafka also advises looking at lagoon front home developments instead of the beach side. "Some projects are asking $500,000 to $800,000 for new build contemporary homes.

Move Fast to Buy in Placencia

If you're looking to retire in Placencia or buy a vacation property there, waiting for a dip in the market might be a risky bet. "Just like in the US, the Belize market is on fire," Kafka says. "Last year was our best year and this year is already outpacing that."

Placencia, Belize development
© 1st Choice Belize

Some of the crazy outbidding has followed American buyers to this market as well. "Last decade it could take three or four years for a property to sell," Kafka says. "Now we are seeing multiple offer situations and properties selling within 30 to 60 days."

Mansfield says that they had a quiet month or two when the airport shut down early in the pandemic, but that didn't last long. He doesn't feel like the market is overheated yet though. "Prices are steadily going up but not in an unrealistic, unsustainable pace like in many resort towns in the USA." You do have to act decisively though. "We are now getting multiple offers on properties that have been on the market for years with no good offers," he says. Some sellers are pulling properties off the market so as to ride the appreciation wave and others are raising the asking price. We're seeing big demand for beach lots, boutique beach hotels, and large luxury beach homes.

Placenca lots real estate

Where are all these buyers come from? Most clients are still from the USA, but the Canadian demand is picking up after a long drought due to travel restrictions. A few deals are starting to come in from Europe and the wealthier countries of Asia.

Placencia Mansions for Sale

What can you get in the Placencia real estate market if your budget is in the millions? Unlike in California or even Los Cabos, a few million puts you way ahead of the pack here, so you're looking at the very top listings or an open lot where you can build your tropical dream home in Belize. One unique aspect of this area is that a lot can stretch from one side of the peninsula to the other, giving you frontage on both the lagoon and the sea, with the main road running through the middle.

Boris Mansfield points to two properties that are meant for those with plenty of cash to spend. One is a 4-bedroom luxury beachfront penthouse spanning the entire 3rd floor at The Villas at Cocoplum. It has 25’ vaulted ceilings, elevator, wet bar, Spa-like bathrooms, and a kitchen that any chef would lust after. Custom murials detail the walls. It's part of a gated community with a mile of the best beach stretch in all of mainland Belize. It is listed for $1.43 million.

For a free-standing home, and Italian-designed house with the finest materials is listed at $2.99 million. It has a tiled infinity pool, 5 bedrooms, a gated entrance, a caretaker home, and a rooftop deck with amazing views. The interior is 4,500 square feet. See more here.

Placencia, Belize real estate

David points to a listing of nearly $5 million at 1st Choice Belize that just might be the region's splashiest mansion to date. With more than 8,500 square feet in the interior and 11,000 overall, it's a huge furnished property with a covered boat slip, guesthouse with elevator, infinity pool, top appliances, and a game room. See the listing here.

Dream Homes and Developments in Belize

Developers still have open land to choose from on the market, sometimes already zoned for condos or a hotel. One of the current offerings as this goes to press, listed at $1.75 million, is a parcel stretching across the peninsula, of 11 acres total. It has frontage on both the beach and lagoon.

As I drove down the whole peninsula in a rental car on this last trip, I saw more "for sale" signs than I could count, but many of those were single-home building lots on the lagoon side or existing properties that are turning over. While there's a lot on the market, most of what's available is moving quickly if it is priced right.

The appreciation so far, combined with the lack of (prohibited) high-rise developments makes Placencia more of a sure bet than most other Central American locations. "I have seen people double their money in five years on certain developments. I have seen beach lots go up in price by about 20%," Kafka adds. "In 2019 you could buy a beach lot in Plantation for around $190k and Maya Beach in the $205k range. Now they are already running around $225K to $250K in Plantation and $240K to $275K on Maya Beach.

Itzana, Placencia, Belize real estate

If you want some security, both in the physical sense and the appreciation sense, there are multiple planned, gated communities to choose from. One that's been in the works for years but is finally coming to fruition is the housing development and marina on the other side of the road from Itz'Ana Resort. All the units for sale are single family homes of one to four bedrooms, ranging from $375,000 up to $800,000. Several of the beach villas rented out through the hotel system are also for sale, with the opportunity to earn steady rental income. See more info here.

Belize Real Estate Advantages

Realtors David Kafka and Boris Mannsfeld have shared some of the pluses of investing in real estate and living in Belize and Stann Creek:

Warm climate, with idyllic tropical Caribbean landscapes and pristine islands.
100% foreign ownership granted
Retirement Incentives
Spacious lots available
English is the official national language
Friendly and welcoming
Peaceful, stable democracy that's part of the British Commonwealth
Close to North America; easy to reach by land, sea, and air
Abundant natural resources under government protection
A center of Mayan archaeological sites
Low cost of living compared to waterfront U.S. markets
No income tax or capital gains tax
A deep–water port allowing everything to be shipped in containers.

The ease of Belize real estate ownership for foreigners is a big plus for buyers. Combined with extremely low taxes and a stable currency—the Belize dollar has been tied to the USD at two to one for more than a decade now—means this is a more secure market than most others in Central America.

You're not on your own as a pioneer when buying property in Placencia either, since there's a sizable expat population in place along with the services they require. David Kafka replied, when asked what services he might supply to the interested buyer, "I help people find a slice of paradise here in Belize: anything that has to do with buying property, moving, importing household goods, importing a vehicle, or bringing your pets to Belize. We also can help with property management, and locate contractors, manage your repairs, or build for owners that are absent."

Placencia, Belize village beach

How to visit Belize for a real estate scouting trip:

Several major airlines fly into Belize City (BZE), including Delta, United, Southwest, Copa, Aeromexico, American, and Avianca. From Belize City, Tropic Air and Maya Island Air both fly to Placencia.

For more information:
David Kafka, Broker/Owner RE/MAX 1st Choice - 1stchoicebelize.com
Boris Mannsfeld & Associates - realestateplacencia.com
Belize Tourism Board — www.travelbelize.org

Article by Timothy Scott, reporting by Lydia Carey and John Lamkin. Photos by Scott and the real estate agencies.


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