Fuelling this growth has been the development of the Corozal Free
Zone tax efficiency rules, attracting many businesses to the area.
Property prices are equally varied in the northern parts of Belize,
depending on the surroundings, size and transportation links.
In the
Orange Walk area, the main population centre is called Orange Walk
Town and has the best transport links in the region. Despite this,
it is still relatively untouched by tourists, and real estate prices
reflect this, with undeveloped land selling at as little as US $350
per acre.
Heading along the coast, the Corozol district is generally more
popular with tourists, resulting in higher real estate prices.
Despite this, prices are still lower than in the ever popular beach
resorts of the south. A five-acre lot with planning permission in
Corozol will set you back around US $10,000.
Moving
further south, Belize starts to change from a jungle resort to a
beach paradise. As well as the vast expanse of coastal beaches,
there are numerous islands, some of which can actually be purchased
for private use!
The
most popular of these areas are the Cayes, where prices are
considerably higher than some of the more rural locations. A luxury
three bedroom, three bathroom home, situated on the waterfront, will
set you back anything up to US $500,000, although condos and smaller
apartments can be purchased for as little as US $100,000.
Without a doubt, the current hot potato of the property market, in
Belize, is the Ambergris Caye. Some say it has actually lost its
appeal due to the increasing number of tourists, others prefer the
bustling resort that this beachside location has become.
Southern Belize is not all about beaches; most of the coastline is
backed by a tropical rainforest with an annual rainfall of 170
inches, guaranteeing year-round greenery and an array of wildlife
habitats.
Both
parts of Belize have plenty to offer the visitor and the property
investor. Generally, the southern beach resorts are more popular
with tourists, indicating greater rental potential; however, the
real estate prices reflect this popularity and you will generally
find that prices are higher, in these popular areas.
Northern jungle regions offer lower real estate prices and generally
more acreage and, therefore, more space between properties. Although
property is cheaper in this area, the potential rental may be less,
as the transport links are not as good, so tourists will not readily
flock to the area. On the plus side, jungle escapes are not easily
available to tourists and those interested in that type of holiday
will be prepared to pay over the odds for such an experience.
Belize
really does have something for everyone!
Buying Island Property in
Belize
