February 10, 2008

Dean Barrow, an attorney at law, was sworn in on Friday as the country’s fourth Prime Minister since independence in September 21, 1981 and is promising an open and honest government.

The United Democratic Party had accused outgoing Prime Minister Said Musa’s People’s United Party of corruption and mismanagement while in office. Mr. Barrow’s United Democratic Party
swept the election 25-6 leaving no doubt that the people of Belize wanted a change from Said
Musa’s two-term rule. Mr. Barrow was quoted as saying “This clearly is a people’s victory. It’s the people’s judgment on the PUP. They’re giving us a huge vote of confidence, it’s a great feeling. I’m extremely grateful and humbled”.

He said while his aim was to develop small-scale ecotourism around Belize’s lush jungles, he will also expand regular tourism with a cruise ship terminal being built on the edge of Belize City and possibly charter flights from Europe. The new Prime Minister also stated that high on his list of priorities for the new Cabinet was the need to try to put Belize’s finances in order and to attempt to lower the cost of living and fuel in the country. Great news, not only for the people of Belize but the thousands of Investors, Retirees and Baby Boomers who already live in Belize for half the cost of retiring in the U.S.

Right now, Belize is the fastest growing tourist port in the Caribbean and with the new Prime Minister paving the way for foreign investors; you can bet there will be an upsurge in tourism.
The only drawback I see is that every time this has happened throughout the Caribbean and Central America it has caused Real Estate prices to rise sharply! Local Real Estate experts are
already saying that Real Estate and land in Belize are increasing at about 15% annually and as much as 30% near or along the coast.

Maybe my father was right, five years ago he told me to buy a lot in the Bahamas for $30,000, I thought he was nuts! Well today that lot is worth over $300,000. Now I think I know what he meant when he said “Son, timing is everything”!

Ask yourself, when you will ever have the chance again to buy property in Belize today at yesterdays prices? Remember, Belize Real Estate prices are rising steadily.