Commercial Real Estate - Belize | Statista Market Forecast

The Commercial Real Estate market market in Belize is projected to reach a value of BZD US$2.12bn by 2024.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of 1.14%, leading to a market volume of BZD US$2.25bn by 2029.
When compared globally, the United States is anticipated to generate the highest value in Real Estate, amounting to US$25.3tn in 2024.
Belize's commercial real estate market is experiencing a surge in demand due to its status as a popular tourist destination.

Definition:

Commercial real estate can be defined as properties that are used for business purposes, such as office buildings, retail spaces, warehouses, and industrial properties.

Additional information:

The commercial real estate market contains the value of commercial properties as a key performance indicator. This is the worth of all office buildings, retail spaces warehouses, and industrial properties for the timeline of our data coverage.

Office buildings
Retail spaces
Warehouses
Industrial properties

Residential real estate
Publicly owned buildings used by the local government
Buildings used for public health care services

The Commercial Real Estate market in Belize is experiencing significant growth and development, driven by various factors such as customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Commercial Real Estate market in Belize are shifting towards modern and sustainable properties. Investors and businesses are increasingly seeking commercial spaces that are energy-efficient, environmentally friendly, and equipped with the latest technology. This trend is driven by the growing awareness of the importance of sustainability and the desire to reduce operating costs in the long term. Additionally, there is a demand for flexible office spaces that can accommodate remote working and collaborative environments. Trends in the market indicate a rising demand for commercial properties in prime locations. Belize's tourism industry is booming, attracting both international and domestic investors who are looking to capitalize on the growing number of tourists. As a result, there is a surge in the development of hotels, resorts, and other commercial properties in popular tourist destinations. Furthermore, the expansion of the offshore banking sector and the emergence of Belize as an attractive destination for international businesses have also contributed to the increased demand for commercial real estate. Local special circumstances play a significant role in the development of the Commercial Real Estate market in Belize. The country's strategic location, favorable tax incentives, and stable political environment make it an attractive destination for foreign investors. Additionally, the government of Belize has implemented policies to encourage foreign direct investment and streamline the process of acquiring real estate properties. These factors have created a conducive environment for the growth of the commercial real estate sector. Underlying macroeconomic factors also contribute to the development of the Commercial Real Estate market in Belize. The country's strong economic growth, low inflation rate, and stable currency make it an attractive investment destination. Additionally, the government's focus on infrastructure development, including the improvement of transportation networks and utilities, further enhances the attractiveness of the commercial real estate market. These factors create a positive investment climate and provide opportunities for investors to capitalize on the growing demand for commercial properties. In conclusion, the Commercial Real Estate market in Belize is experiencing significant growth and development. Customer preferences are shifting towards modern and sustainable properties, while trends in the market indicate a rising demand for commercial properties in prime locations. Local special circumstances, such as Belize's strategic location and favorable investment policies, contribute to the growth of the market. Furthermore, underlying macroeconomic factors, including strong economic growth and infrastructure development, create a positive investment climate. Overall, these factors drive the development of the Commercial Real Estate market in Belize.

Data coverage:

Figures are based on value of commercial real estate.

Modeling approach / Market size:

Market sizes are determined by a bottom-up approach. As a basis for evaluating this market, we use national statistical offices. Next, we use relevant key market indicators and data from country-specific associations such as share of industry, manufacturing, and services of the GPD, price level index, GDP. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the market, for example, exponential trend smoothing.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war are considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Financial market, in a PDF format.

After a challenging period during the coronavirus pandemic, the European commercial real estate sector now faces additional pressures, including inflation, record-high interest rates, and sluggish economic growth. In 2022, these challenges were evident through contracting investment volumes in the two largest markets—the United Kingdom and Germany. Although the shifting economic landscape has impacted all commercial real estate subsectors, industrial and logistics—a property type that demonstrated incredible resilience during the pandemic—continues to be the most popular investment class. The performance of the sector is closely tied to the state of the economy, explaining why cities with flourishing capital markets garner the most interest from investors. In 2023, investors identified London, Paris, and Madrid as the three most attractive markets.

Growing demand for industrial and logistic real estate is prominent in Europe, driven by the increase in online retail sales rather than in-store. All the Nordic countries saw steady growth in their e-commerce sales during the past fifteen years and more, and the growth is expected to continue. Investments in the industrial and logistic real estate industry have generally been at a higher level during the last few years. The highest investment value among European countries in the first half of 2021 was in the United Kingdom, while Sweden topped the list among the Nordic countries, and was fifth in terms of industrial and logistics investment in real estate in Europe that year.