The market
Belize, in context.
Every figure on this page is published by a named source and dated. Where no reliable figure exists, we say so rather than estimate.
Population
A growing country, in smaller households.
- Population
~426,368
Population
Mid-year estimate, 2026 — a projection, not a count
- Census count
397,483
Census count
Enumerated, 2022 Population & Housing Census
- Households
110,719+
Households
2022 Census — up 39% from 79,492 in 2010; today's figure is higher
- Average household size
3.6
Average household size
2022 Census, down from 4.0 in 2010
Source: Statistical Institute of Belize. The mid-year figure is a postcensal estimate, not an enumerated count; both are shown so the distinction is clear.
Housing stock
What Belizeans live in.
Of 110,719 households counted in the 2022 Census, the overwhelming majority occupy a detached private house. Multi-unit housing is a small fraction of the stock.
| Dwelling type | Households |
|---|---|
| Undivided private house | 97,176 |
| Apartment / condominium | 6,689 |
| Part of a private house | 2,825 |
| Double house / duplex | 1,396 |
| Combined business and dwelling | 1,034 |
| Other | 901 |
Source: 2022 Belize Population & Housing Census, Table B.6. Figures are as at the 2022 census date and understate the current stock; no more recent official count is published.
Tourism
Overnight demand has fully recovered.
- Overnight arrivals
~551,698
Overnight arrivals
2025 — 9.6% above the 2019 pre-pandemic level
- Cruise arrivals
~967,214
Cruise arrivals
2025 — up 8.1% year on year, still 17.4% below 2019
Source: Belize Tourism Board, 2025 preliminary figures, published February 2026.
What it means
Our reading of the market.
01
Households are forming faster than the population is growing
Between the 2010 and 2022 censuses, the population rose roughly 23% while the number of households rose 39% — from 79,492 to 110,719. Average household size fell from 4.0 to 3.6. More, smaller households means demand for dwellings grows faster than headcount alone would suggest.
02
The housing stock is overwhelmingly detached
Undivided private houses account for 97,176 of 110,719 households. Apartments and condominiums together account for 6,689, and duplexes just 1,396. Multi-unit housing is a small share of the stock in a country where household formation is accelerating.
03
Overnight tourism has passed its pre-pandemic peak
Overnight arrivals reached 551,698 in 2025 — 9.6% above 2019. Cruise arrivals grew 8.1% year on year but remain 17.4% below 2019. The overnight segment, which drives demand for vacation rentals and resort accommodation, has recovered fully; the cruise segment has not.
04
We are a single-market specialist
Concentration in one country is a genuine risk and we accept it deliberately. Local depth — knowing owners, streets, and building histories — is what lets us source off-market and underwrite accurately. We would rather know Belize thoroughly than several markets superficially.
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