In this article, we look at how we covered Central America real estate and investment for expats in 2023 to give you an idea of how things may play out in 2024.
If you’re thinking of buying offshore real estate in 2024, then Central America should be on your radar. The seven small countries that make up the region are a treasure trove for investors. In 2022 and 2023, we covered many of the ups and downs, pros and cons, of Central America real estate investment for those interested in possibly dipping a toe into the market.
With a young population of some 180 million people and a generally positive economic outlook for 2024, Central America bustles with potential. The region’s strategic location between North and South America, economic stability, cultural richness, and largely untapped market potential attract a diverse group of expatriates, retirees, and investors.
They’re drawn by the region’s lower cost of living, attractive tax incentives, thriving tourism sector, and ease of residency, with countries like Panama and Costa Rica emerging as standout choices for stable and secure investments. Below, we take a spin around the region to see how we covered the real estate and investment climate in Central America over the past twelve-to-eighteen months to give you an idea of what to expect in the next year or so.
Belize
English-speaking Belize, with its legal system rooted in English Common Law, presents a seamless investment experience for North American investors.
The Belizean real estate market, particularly in Ambergris Caye and Placencia, thrives on a sustainable growth phase, driven by a growing tourism market and a well-established expatriate community.
The transparent buying process and equal property rights for foreigners make Belize an enticing option for those seeking a hassle-free investment in a Caribbean paradise. Here are some of our investment/real estate highlights of 2023 in Belize:
1. Why Panama and Belize Are Top Emerging Markets for Investors
2. From Crisis to Renewal: Examining the Post-Pandemic Economic Recovery in Belize
3. Top Ten Benefits of Banking in Belize: A Haven for International Investors
4. Ten Top Reasons to Retire in Belize
The Top Ten Benefits of International Banking from Belize: https://t.co/5BxvcQ2EP7 #belize #centralamerica #bank #investments #luigiwewege #international #innovation #fintech #IBT #assets #americas #investors #wealth #global #emerging @VidaAmerica @CayeIntBank pic.twitter.com/nF0wdkUHOf
— Luigi Wewege (@luigiwewege) October 6, 2023
Costa Rica
Costa Rica is one of Central America’s most stable and economically sound countries. Its commitment to political stability and economic development, combined with a high standard of living, makes it a good destination for investors.
Beach communities in Guanacaste and along the Central Pacific coast are not just tourist havens but also hubs for sustainable real estate investment. Check out how we covered real estate and investment this year in Costa Rica – including some of the negative aspects around gentrification and short term rentals – below:
1. Why Costa Rica Must Regulate Untaxed and Unlicensed Vacation Rentals
2. Investing in Dreams: A Complete Guide to Buying Real Estate in Costa Rica
3. Costa Rica: A Hub of Latin America’s Tech Industry
4. Interested in Buying Manuel Antonio Real Estate? An Area Guide for Potential Expats
5. Looking at the AirBnB Effect in Costa Rica
Property taxes, financing options, and closing costs—uncover the secrets to buying real estate in Costa Rica! Our article guides you through the process and provides essential insights for a successful investment.https://t.co/mbXIcPX0yN
— Central America Living (@VidaAmerica) May 19, 2023
El Salvador
El Salvador is a rising market, with unique opportunities for forward-thinking investors. The country’s dedication to modernizing its infrastructure and attracting tourists – especially surfers – positions it as an emerging hotspot for real estate investments. And we haven’t even mentioned Bitcoin! While still a developing market, El Salvador is steadily drawing international investor attention.
1. How is Cryptocurrency in Central America Progressing?
The rise of cryptocurrency adoption in Central America might defy traditional perceptions of the region. In this article, we explore how Central America is becoming a crypto-friendly hub.https://t.co/8LJ0IMljfB
— Central America Living (@VidaAmerica) July 25, 2023
Guatemala
Despite political upheaval this year, Guatemala is still Central America’s largest economy, and it still offers In Guatemala, compelling real estate investment opportunities, particularly in the capital of Guatemala City and the colonial town of Antigua. Below, we’ve stretched back some 18 months to include some of our most informative pieces on real estate and investment in Guatemala:
1. A Few Things to Consider When Buying Guatemala Real Estate
2. Due Diligence: One Simple Thing To Do Before You Buy Real Estate in Guatemala
3. Is Guatemala City Safe? (And Which Parts Should I Visit and/or Avoid?)
4. A Quick Guide to Housing in Guatemala for Potential Expats
Honduras
Honduras, specifically the island of Roatán, presents a unique proposition for real estate investors. The island’s affordability, growing tourism sector, and substantial expatriate community make it an attractive investment destination.
The presence of an international airport and cruise ship ports underscores Roatán’s potential, offering a range of investment options from tourism-related properties to residential developments. We haven’t covered many real estate and investment topics in Honduras, but we did find this for your reference:
1. Investing in Honduras: Four Good Reasons Why Foreign Investors Should Consider Honduras
Panama
Panama is another country that has seen political turmoil this year, but that doesn’t stop it from being perhaps the easiest and most popular country for expat investment.
Indeed, Panama City can be likened to dynamic urban centers in the United States, such as Charlotte, North Carolina. Indeed, while the comparison doesn’t go all the way, many of these insights on moving to Charlotte can compare with moving to Panama City, especially for those coming from smaller towns. Outside the capital, the country as a whole has a range of investment opportunities, from tourism and commercial sectors to residential and agricultural properties.
1. El Cangrejo, Panama City: Students, Families, and Hipsters
2. Casco Viejo: Panama City’s Historic District
3. A Quick Guide to Punta Pacifica, Panama City – Central America’s Mini-Dubai
4. Moving to Panama? Here Are the Top Six Panama City Neighborhoods Expats Love
5. Why Panama and Belize Are Top Emerging Markets for Investors
6. Exploring the Neighborhood of El Dorado, Panama City: A Cultural Haven Beyond the Tourist Track
7. Exploring Your Options: A Guide to Panama Residency for Expats
8. Panama Real Estate: What’s Driving the Boom with Panama City Luxury Apartments?
Exploring Your Options: A Guide to #Panama Residency for Expats via @VidaAmerica https://t.co/MyFFcFQpFs #expats #AmericansAbroad #AmericansOverseas #ExpatLife #Visas
— Americans Abroad (@ACAVoice) August 23, 2023
Successful investing in Central America requires an understanding of local market trends, legal requirements, and economic conditions
It’s essential to partner up with reputable local attorneys when buying property in the region, no matter which country you’re in. In fact, some countries require this by law. Sound financial planning, including considerations of financing options, currency exchange rates, and investment budgets, is crucial.
We also recommend finding local real estate experts that you can trust. They can offer deep insights into the market, thus aiding informed decision-making. Moreover, conducting a thorough risk assessment to understand political stability, economic fluctuations, and environmental risks is vital.
By meticulously adhering to these steps, investors can confidently navigate Central America’s diverse and vibrant real estate and investment markets in 2024.
