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Buying a property in Belize? It’s a great idea simply because Belize ticks all the right property investor boxes! Belize has a great year-round climate, coral reefs, rain forests, Mayan temples and is the only English-speaking Central American country. Americans and Canadians have already seen the potential of buying property in Belize and have been investing there over the past few years. This has had the effect of developing the investor property market in Belize and it is now ripe for further significant growth; so this is a great time to invest. When people have looked to buy property in Belize, it is very common for people to buy plots of Belize land to build on. The whole country is restricted to buildings no more than three storeys high, so there are no high-rise buildings to be seen (outside of Belize City). Plots of land in Belize can be bought for as little as £2,000 an acre inland, but this rises steeply on the coast and on the hundreds of tropical islands offshore. Whole islands can even be bought, ready to house your dream villa with its own boat launch, though prices start in the six figure region. Buying Property in BelizeAll types of property in Belize can be bought, from traditional stilted home, to apartments, condos, and villas. The most popular areas for buying property in Belize are Ambergris Caye (a tropical island with great scuba diving), Placencia (with its beautiful 16 mile-long beach) and the inland town of San Ignacio (with its surrounding rain forests, wildlife and Mayan civilisations). Buying Property in Belize - The Process Belize is a former British colony, its legal system and conveyance system is based on the British system and it has had a stable democratic government in power since it gained its independence. The buying process for Belize property is straightforward. Once a price has been agreed, employ the services of a local solicitor who will produce an offer letter. A 10% deposit is then required and if the vendor accepts this, the deposit is non-refundable. After 30 days, a new contract is signed and full payment is made and the title is registered in the new owner’s name. Be aware that estate agents often charge 10% of the purchase price as their fee, and also it is said that the second home any overseas buyer purchases in Belize is bought for half the cost! Buying Property in Belize - Where is Belize? Belize is a small country on the east coast in Central America, just below Mexico’s Cancun. It has a population of around 250,000; it has the lowest density of population in the region, so another good reason to invest here. From a European perspective, buying property in Belize has not been the easiest country to get to as flight connections have to be taken in the US or Mexico. This has been due to the national airport in Belize City being having too short a runway for long-haul aircraft. However, work started in 2005 to lengthen the runway and now long-haul flights direct from European countries are expected to start by 2007. This will open up the rental market for Belizean properties to European holiday makers. Great for your rental income, and great for your capital appreciation! |
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