Mayor Wally Nunez Discusses Transforming San Pedro, Belize

San Pedro Belize Mayor Wally Nunez

We sit down with the Mayor of San Pedro Town Wally Nunez and discuss what is happening round San Pedro and the future of Ambergris Caye, Belize.

Wally Nunez and his team recently won reelection in San Pedro Town. He took the time to sit down with us and explains his past and passion for Belize and the future vision for San Pedro.

If you’re wondering what is happening in San Pedro and around Ambergris Caye, Belize, check out this video. As we sit down with Mayor Wally Nunez to discuss everything that has recently happened as well as the future plans on the island of Ambergris Caye.

We get Wally’s insight into the Finance & Revenue Collections, Infrastructure Plans, Current Development, Planned Development, Tourism, Local Economic Development, Foreign Relations, Traffic Management, Human Resources, Staff Development Training, Trade & Investment!

Check out the latest video below;

Transforming San Pedro Belize with Mayor Wally Nunez


Wally takes the time to share ideas on the island as well as discuss his past term as Mayor and his vision for San Pedro. If you’re interested in Belize real estate and the future of Ambergris Caye, Belize, you want to miss this!

Contact us to learn more about Ambergris Caye & Belize!


The Latest Updates in San Pedro Belize March 2024

The Latest Updates in San Pedro, Belize


There is so much growth and development around San Pedro Town and the island of Ambergris Caye.

Between the road paving project, new hospitals and medical facilities, gas stations north of the bridge, ferry/water taxi terminal, and additional Mexico water taxi routes.

The development, growth, and pace of infrastructure are truly amazing!

San Pedro Town is located on Ambergris Caye and is by far the top destination for tourists and expats in Belize.

Check out the latest video on the Major Updates around San Pedro, Belize!


San Pedro Belize Major Updates



New Water Taxi Route Connects San Pedro & Mexico

On February 24th, a new ferry route was announced that connects San Pedro & Ambergris Caye, Belize, to Chetumal, Mexico.

This latest route is sure to be a Boost for Tourism and Trade between Belize & Mexico!

San Pedro Belize Express unveiled its latest addition, the Three Star Voyager vessel, marking a significant milestone in the connectivity between Belize & Mexico and expanding its service offerings.

The ferry route (water taxi) enhances the travel experience between Belize and Mexico but also holds significant potential for boosting tourism in Belize and facilitating trade in the region.

This new route also signifies a milestone in connectivity, improving not only transportation for tourism but also logistics. By providing a direct and efficient travel option, it opens up new avenues for economic cooperation and trade.

The trip between Ambergris Caye & Chetumal will take customers quickly and smoothly from Ambergris Caye, Belize, to Chetumal, Mexico.

The water taxi service will further increase tourism to Belize and Ambergris Caye, especially with the recent opening of the Tulum International Airport and the Tren Maya (Yucatan Express Train system).

The Tren Maya (sometimes also Mayan Train or Maya Train) is a railway system that traverses the Yucatán Peninsula.

The railway begins at Cancún International Airport and travels down to Chetumal and the Mexico/Belize border.


New Water Taxi Mexico & Belize (San Pedro)


New Water Taxi Terminal

A new water taxi terminal is being built in the southern part of San Pedro Town, which will relieve much of the downtown traffic and improve accessibility from Belize City to San Pedro and Ambergris Caye. The new Water Taxi Terminal has started constructing the boat terminal south of downtown San Pedro along Coconut Drive.

The project will be completed this year and is already well underway. This new boat terminal also has a seafront extension, an area for parking, unloading, loading, and dropping off passengers.



Road Paving in San Pedro

Street paving continues in San Pedro. This is a major infrastructure upgrade, and the island is starting to enjoy the smooth, paved roads around town.

Many of the roads in San Pablo, DFC, and Escalante Marina Drive, with the latest paving, are being paved at the entrance of the San Pedrito subdivision near downtown San Pedro.

Many residents and tourists are overjoyed by the upgrades to the streets, which marks a major milestone in the development of the island.

The upgrade on the main streets in San Pedro is expected to be completed sometime this year.



New Gas Station

A new gas station opened on the island of Ambergris Caye on the north side of the bridge. This is an amazing addition to the island. For both locals and tourists. Providing a new location to gas up your vehicles.

There is also buzz that another gas station is just starting construction at the junction of Secret Beach!

These new gas stations help propel further infrastructure on the island and are a sign of continued growth.



New San Pedro & Ambergris Caye Hospital

Residents of San Pedro Town and Ambergris Caye (along with all those who invest and travel to the island) are excited about the latest development announcement. Residents and tourists of Ambergris Caye are getting a state-of-the-art hospital and medical facility.

This facility fulfills the need for accessible, comprehensive medical services both for residents and visitors to Belize’s most popular tourist destination, San Pedro (Ambergris Caye).

New Hospital Ambergris Caye


If you want to learn more about Belize and invest in Belize real estate, contact us at RE/MAX Belize!


Ambergris Caye Investment & Vacation Rental Data October 2023

Ambergris Caye Vacation Rentals

Ambergris Caye has been the epicenter of the Belize tourism surge and COVID recovery. This has led to growth in the Ambergris Caye Real Estate and investment in vacation rentals.

Ambergris Caye luckily has something we like to call “Island Economics.” When investing in an island, there is only so much land available. The limitations on available land create scarcity, not only scarcity of property but also a scarcity of land and completed resale homes. There is only so much land on an island. Island economics means that you see greater property appreciation on an island due to scarcity of property and limitations on how much can be built.

Tourism growth, increased awareness, offshore residency, and improved connectivity have all led to higher investment yields on vacation rental properties on Ambergris Caye. Ambergris Caye and San Pedro Town (the municipality on the island of Ambergris Caye) are by far the top destinations in Belize. Below, we look at the updated tourism data and vacation rental investment opportunities on Ambergris Caye!


Ambergris Caye Tourism

Ambergris Caye has seen tourism hitting all-time highs year-over-year as we become a globally recognized destination. From 2010 to 2023 (13 years), Ambergris Caye overnight tourism (people booking rental units) has grown at an annual compounded rate of 14.8% per year increase, with overnight tourism nearly doubling from 2010 to 2023 (+81.5% increase).


Belize Overnight Tourism



Belize Tourism Board Overnight Arrivals


Ambergris Caye Vacation Rental Inventory

Even though tourism is growing, the total rooms for rentals have stayed stagnant, with limited new losing inventory and often even a decline in inventory. Tourism is growing, and this usually correlates to added supply; that said, Ambergris Caye, Belize, is at the perfect time for investment as we have unique market conditions that have led to increased demand and a decrease in supply inventory.

Rental Inventory on Ambergris Caye has dropped by -4% from 2022 to 2023. Also dropped -13.9% over the last 3 years. This is largely due to the influx of people moving to Belize and the growing expat community and people who can work remotely.


Ambergris Caye Vacation Rental Lodging Inventory


For lodging, as a point of reference, Ambergris Caye saw -4% from last year. Lodging inventory for vacation rentals on Ambergris Caye has seen a -13.9% decrease over the last 3 years.

Ambergris Caye has had a compounded annual tourism growth over 12 years at an average of 14.8% per year.

As you can see, the 3-year trend has been consistent, with many quarters witnessing a dip in rental inventory (even with an increase in demand). This creates a unique opportunity for investors. With the shortage in supply and increase in demand, there is a need for more lodging and rentals.


Increase in Demand + Decrease in Supply = Increase in Price & Rent






Many industry experts predict Ambergris Caye real estate prices and nightly rental rates will continue to increase. This will lead to greater equity appreciation and a higher cash-flow yield.

Even though demand is on the rise, the supply has remained stagnant. With increased awareness comes increased demand, but the lodging and vacation rental inventory supply does not meet the demand growth.


Ambergris Caye Occupancy



In 2022, Ambergris Caye had an average vacation rental occupancy of 54.8%. In 2023, the average occupancy of vacation rentals has been at 61.3%. This is an increase of +11.9% year-over-year (2022 to 2023).



Ambergris Caye Nightly Rental Rates


In 2023, Ambergris Caye has seen ADR (Nightly Rental Rates) for vacation rentals increase by +15% from 2022. In 2023, the average nightly rental rate on Ambergris Caye has been $284 USD per night, which is up from $262 USD per night in 2022.


Ambergris Caye Investment Revenue

The increase in tourism with the lodging and vacation rental supply shrinking has led to higher occupancy and higher nightly rental rates (ADR). The increased occupancy and ADR have resulted in higher revenues. On Ambergris Caye, vacation rental gross revenue is up 30% in 2023 (from 2022).


Annual Average Rental Revenue



What is fascinating is the renal income for detached homes over condos (and the % annual growth).


Detached homes on Ambergris Caye have seen an average annual gross revenue of $88,850 US in 2023 (Airbnb income). Compared to condos, which saw an average gross yearly earnings of $44,300 US. Detached homes also saw a higher % growth at 23% annual revenue growth (condos with 14%) from 2022 to 2023.

For more information on investing in Belize and Ambergris Caye rental income investment opportunities, contact us at RE/MAX Belize!


New San Pedro & Ambergris Caye Hospital

San Pedro Town & Ambergris Caye Hospital


Residents of San Pedro Town and Ambergris Caye (along with all those who invest and travel to the island) are excited about the latest development announcement. Residents of Ambergris Caye are finally getting a state-of-the-art hospital and medical facility. Earlier this year, there was a memorandum of understanding between the governments of Belize and Taiwan for the construction of the San Pedro General Hospital. The $33 million needed to construct the hospital will be a grant and not a loan from the Government of Taiwan.

The unveiling of the design of the new healthcare facility for Ambergris Caye took place on Monday, April 3rd, 2023. The state-of-art medical facility in San Pedro will be possible through the people of Taiwan and the site preparation is underway.

This facility fulfills the need for accessible, comprehensive medical services both for residents and visitors to Belize’s most popular tourist destination (Ambergris Caye).

The Belizean Government has been working with a number of specialists on this ambitious project with the help of a team of experts; analyzing data, meeting with health teams/professionals on the ground, planning the execution, and collaborating with partners in order to ensure the construction of a first-rate hospital and medical facility.

David Kuan-Chou Chien, Ambassador of Taiwan to Belize stated “Taiwan has rich experience of building and management of medical facilities and is willing to share it with Belize to better the Belizean people. Therefore we are delighted to work with the Government of Belize to implement the construction project of the San Pedro Hospital. We hope that the hospital  can make a big difference for the residents and tourists of San Pedro Town.”

Presently, the San Pedro Poly Clinic is the primary medical facility on Ambergris Caye. The newly announced San Pedro General Hospital will be located across from Victoria House Resort, on the south side of the island, about 1.5 miles south of San Pedro Town; no start of construction date has been announced yet. That said, the land for the hospital is already being prepped for construction.

This new hospital location is very convenient for residents and investors in Mahogany Bay Village. The new medical facility and hospital are located just a few minutes from the community front gate.


Proposed Hospital Site


Hospital Location



Taiwan Gifts $33 Million to Belize for Hospital

Model for San Pedro Hospital Revealed


Biggest Development Announcements & Updates


For more information on the new hospital and medical facility, contact us! We look forward to sharing the latest updates and developments coming to Belize.

Introducing San Pedro Belize Public Transportation

San Pedro Belize Public Transportation

As San Pedro Town and the island of Ambergris Caye continue to grow and expand (both in population and tourism), there is an increased need for more services. One of the newly proposed services includes an easier and more affordable way to get around the island. This is the newly proposed public transportation system. A private entity, Taly Corporation, has been actively working on a public transportation system and route for San Pedro & Ambergris Caye going from Mahogany Bay through San Pedro Town, continuing north and heading west to Secret Beach. The Taly Corporation is looking to invest in and set up the Ambergris Caye public transportation system to make it easier and more affordable for people to get around the island (both locals and tourists). The proposed plan will have a portion of the public transportation profits go to a non-profit organization and charities on Ambergris Caye until the initial capital investment is met.

The proposed public transportation project would be under the San Pedro Public Transport Company Ltd. The proposal for the public transportation system is yet to be approved. The plan is to offer island residents and tourists public transportation options besides only taxis or golf cart rentals. Below you can see the current types of transportation used in San Pedro with the % of total use;


San Pedro Ambergris Caye

San Pedro Town on Ambergris Caye, Belize, as of 2015 had an estimated population of approximately 16,444 people. Since then the population has grown with an even higher volume of expats and tourists. Ambergris Caye as a destination (for tourism and residency) has experienced incredible growth over the last 5 to 15 years. From 2017 to 2022 (5 years) Ambergris Caye has seen tourism grow at a rate of 14.6% per year (over double-digit annual growth). Over the same 5 years, Ambergris Caye has seen a population growth rate of over 8% per year, and in the previous 10 years, prior Ambergris Caye and San Pedro experienced an annual population growth rate of 17%. It is estimated that up to 25% more people reside on Ambergris Caye on a part-time basis. The growth in population and tourism has led to the proposed public transportation system.

The public transportation proposal will not require any public funding from the Belizean or the municipality of San Pedro Town. All profits will be donated to local charities and non-profit organizations.

The public transportation system proposed by Taly Corporation will include multiple pricing options, with reduced fares for students, seniors, and people with disabilities. There will also be monthly public transportation passes available as well as single-ride fares.


The Vehicles

The vehicles proposed for the public transportation project are 14–16-seater shuttle buses. The plan is to have the shuttles operating 24/7.


The Public Transportation Routes

The proposed public transportation route will include 20 designated bus stops. The stops will go from Mahogany Bay Village in the south and up to the North at the turnoff to Secret Beach and over to the West Coast. The proposed route will go to and from Mahogany Bay to Secret Beach with 20 total stops. You can see the proposed stops and route below;


The fleet size, the number of vehicles, and the frequency of trips will increase over time as the demand grows. For more information on Belize and Ambergris Caye infrastructure or to learn more about Belize Real Estate contact us at RE/MAX Belize!