SAN DIEGO, Calif., Aug. 22, 2019 (SEND2PRESS NEWSWIRE) — Legacy Global Development, the developer of the luxurious Orchid Bay, Belize community, shares its insider knowledge on why investing in a beachfront condo is a smart investment, in a blog post titled, “Top 4 Reasons to Invest in a Beachfront Condo.”
“As vacation rentals are becoming the better, more affordable alternative to hotels, real estate investors are jumping on this very intriguing and potentially lucrative trend,” said Chris Williams, CEO of Legacy Global Development. “Thanks to rental portals such as Airbnb, HomeAway, and VRBO, there are hundreds of millions of vacation rental users worldwide, and these rentals are expected to topple the hotel industry.”
“As a result of this growing trend, we’ve received more demand from buyers for beachfront real estate at Orchid Bay, Belize in the last year alone – more than we’ve seen in all of the previous years combined since we’ve taken over as the developer in 2016.”
According to Williams, Beachfront Condos in Belize and other Caribbean and Latin American counties are appealing to real estate investors for many reasons. It can bring a high return on investment, a reliable income stream, and personal access to a desirable vacation locale.
According to the blog post, some of the top benefits of investing in a beachfront condo include:
- It exposes the buyer to lower risk than other types of real estate. Vacation homes in top tourist destinations attract many guests, so there’s less effort to maintain high occupancy levels, and owners can charge higher nightly rates.
- Vacationers prefer to rent a condo because it’s similar to staying at a hotel. There are on-site amenities and activities that bring people together for shared social experiences, whereas renting a beach house or villa does not offer that same advantage.
- A beachfront condo serves as a dual-use property that owners can rent out during peak travel times, and can stay at and enjoy the home with their family and friends at other times throughout the year.
- Many investors claim that their rental income from peak periods alone covers their condo expenses – like loan payments, property tax, insurance, and repairs – for the entire year.
- Thanks to real estate appreciation, beachfront condo owners are usually able to sell the property at a higher price than it was purchased for. These profits can then be used to invest in another property.
- Vacationers want to be as close to the beach as possible, and renting a beachfront condo is usually more affordable than staying at a beach resort or renting a beach house or villa.
The current surge in vacation home sales at Orchid Bay is directly related to Belize’s rapidly growing tourism. Additionally, real estate buyers are attracted to Belize because contracts are in English, there are low property taxes, and no estate or capital gains taxes.
Tower-C is the third Beachfront Condo being built at Orchid Bay and will feature updated enhancements including high-end finishes, an open concept layout, an elevator, and is only steps away from the Caribbean Sea. Each Condo comfortably sleeps four – six people and has two private outdoor terraces, at least one which provides unobstructed water views.
Orchid Bay also offers Condo owners the option to participate in its Rental Program. This rental management program comes with a three-year rental guarantee and includes all marketing, logistics, and communication with renters.
Located in northern Belize and developed by Legacy Global Development, Orchid Bay is a gated, master-planned community situated on a 114-acre site in the Bay of Chetumal. It combines North American comforts with a spectacular Caribbean setting. The development was influenced by innovations in community design that reveal small-town accessibility, connectivity, and convenience — all with respect to the natural environment.
The master plan calls for a series of canals and basins for easy navigation around the community, first-world infrastructure, and 10 percent green space set aside. Learn more at: https://www.orchidbaybelize.com/
On-site amenities include the Tradewinds Beach Club and Restaurant, as well as a 7,700-square foot beach club with multiple swimming pools, a gym, restaurant, bar, lounging decks, and private beach access, which is currently in development. An on-site grocery store and medical clinic are also projected to open in the future.
To learn more, read the full article here: https://blog.orchidbaybelize.com/blog/top-4-reasons-to-invest-in-a-beachfront-vacation-condo
*PHOTO link for media: https://www.Send2Press.com/300dpi/19-0822s2p-lgd-condo-rendering-300dpi.jpg
News Source: Legacy Global Development