Click Here To See Listings Map Click Here For Recent Listings Belize Real Estate Overview
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Belize often escapes the attention of North American travelers and real estate investors. Perhaps because it’s a tiny country, smaller than the state of Massachusetts with a population under 350,000. Or maybe it’s because the country doesn’t seem to know whether to market itself as Central American or Caribbean.
Belize is a member of the Commonwealth with a legal system based on British law and is the only Central American country adopting English as its first language. If direct flights to UK and the rest of Europe take off (the runway at Belize international airport has been expanded to allow this), more Europeans will sit up and take notice. Some Belize real estate promoters are already urging their clients to ‘buy before the Europeans get here’ and get a foothold at current prices.
For a tiny country Belize packs some punch
The country packs a lot of punch within its small borders. First as a destination for dive enthusiasts attracted by the 260 km long barrier reef that runs along its entire coastline. The reef is the second largest in the world (after Australia) and accredited as a UNESO World Heritage site.But if you ever get bored of crystal clear jade waters, sparkling soft white sand and the rustle of palm leaves, you can always head to the mainland. Here you’ll find tropical forests teeming with wildlife, majestic mountains, rushing rivers and ancient Mayan temples. Belize prides itself on being the seat of Mayan civilization, with well-preserved archeological sites throughout the country, such as Lamanai and Xunantunich, which are easily accessible to tourists.
With these attractions, it’s not surprising that tourism numbers have risen steadily over the past decade. Already a stopping off point for Caribbean cruise ships, the World Travel & Tourism Council estimates the tourism and travel economy to contribute a massive 34.2% to Belize’s GDP in 2011 – a higher percentage than the other countries in Central America.
Unlike the steady march of branded resorts and hotels across more established parts of the Caribbean, the major hospitality chains have not yet made in-roads in Belize. But if you go to Belize, the rumors get louder every year, especially around Ambergris Caye. The celebrity factor is also at play ever since Leonardo DiCaprio picked up a 104-acre island complete with an airstrip.
The Government continues to make efforts to welcome foreign investment to Belize. There’s robust residency and retirement packages with numerous tax advantages (although income requirements are higher than other countries in our sample), and the Government is developing the infrastructure around the main hotspots such as Ambergris Caye and Placencia.
Belize is also well known as a banking haven. Its strict banking privacy laws and high liquidity requirements do much to support its standing. The economy is also doing well with growth rates averaging around 6% in recent years, despite the global downturn. And many hope that the discovery of oil in Cayo district will shelter the country from the worst of the economic storms. See more Belize indicators.
Real estate in Belize after the global downturn
It’s been a tough few years for real estate developers in Belize with sales volumes considerably lower than before the crisis. Apart from a few notable fire-sales, developers selling into the international real estate space have held their ‘official’ prices relatively firm. But at the same time many are offering incentives, special promotions and ‘discounts’.
No question it’s still a buyers market for real estate in Belize, with great deals to be had if you’re willing to spend the time seeking out the opportunities. Buyers will do well to remember that the best deals may not be direct from the developer, but re-sales from third parties.
Belize investors follow the tourists to Placencia & Ambergris Caye
Most of the Belize real estate activity targeting the second home and vacation markets is focused in Ambergris Caye and Placencia. In our analysis of active real estate projects, we found that Ambergris Caye holds almost half the country’s total. If you add the Placencia projects, you’ve accounted for two-thirds.Types of property ownership
Title to property in Belize can be held in three different ways; (1) Deed of Conveyance; (2) Transfer Certificate of Title and (3) Land Certificate.
A Deed of Conveyance originates from the British colonial days and is a registered instrument of ownership. A Deed of Conveyance is a valid legal title once an attorney has confirmed that the seller has good title to the property. This form of ownership can be converted to a Certificate of Title via an application for first registration. Any subsequent buyer is issued a Transfer Certificate of Title. A Land Certificate is an absolute title and applies in new or specially designated areas. Under the Registered land Act of 1987, the government is converting all freehold land (held under Conveyance) to Land Certificate titles to achieve a uniform system as areas are being surveyed.
Real estate purchasing process
The process of legal due diligence involves a review of the property title at the Lands Department, confirmation of tax clearance and an investigation to determine whether the property is free of mortgages, debt or pending legal cases. For certain transactions a technical due diligence runs in parallel and considers (for example) boundaries and topography, water availability, energy availability, analysis of permissions and permits, highest and best use studies, market studies.
Once the due diligence periods have been completed and the property is cleared for sale, the closing is scheduled. At the closing a new property title is drawn, signed and funds transferred. As an English speaking country, most investors from North America will not require translation of contracts but they will need the services of a qualified attorney.
In order to register the property a valuation is carried out by the Valuation Department and the transfer attested by the Justice of the Peace. Registration takes place at the Lands Registry at which time registration fees and stamp duty of 5% on the declared value of the property are paid.
What’s special about real estate for sale In Belize?
- Belize property prices are lower than the more established Caribbean destinations.
- You’ll find smaller, boutique style real estate developments as opposed to the larger destination resorts underway in Nicaragua, Costa Rica and Panama.
- An emerging world-class tourist destination with strong vacation potential.
A benefit laden “Qualified Retirement Program” - A developing infrastructure, especially around tourist areas.
- Friendly tax and banking jurisdiction.
Listings Map
Recent Listings
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Brand new bungalow in gated community with exquisite grounds on Hummingbird Highway For Sale : $190,000-$200,000
Beautiful new bungalow with nearly 1,300 sf of living space plus a 46x10 screened rear veranda. Features three bedrooms and two bathrooms all under a cathedral ceiling, along with kitchen, laundry room and open plan living/dining area. The large veranda more...Country : Belize
Location : Hopkins & Dangriga
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Belize Riverfront Stunning and a BARGAIN- 39 ACRES For Sale : $85,000
Belize Rainforest Realty of San Ignacio Belize is offering this amazing property on the Belize River in the Cayo District of Belize for Sale. Beautiful 39.77 acres of land located on the Belize River front in Teakettle. The land is more...Country : Belize
Location : Cayo District
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New, Beautiful, Quality Construction Seaview, Home In Quiet Area For Sale : $139,500
New Construction, Quality Home Built by knowledgeable local builder 2 Bedroom, 2 Bath Engineered Foundation Hurricane & Termite Resistant Vinyl clad tinted windows with security bars 1 1/2 blocks from the sea Solid Mahogany interior & exterior doors, trim & more...Country : Belize
Location : Corozal
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Gran Baymen For Sale : $99,000-$375,000
The Grand Baymen Community located south of San Pedro offers condos for sale in a green, country club setting. Known as Baymen Gardens this master-planned condominium community is three blocks from the beach, but integrated with Exotic Caye, a completed more...Country : Belize
Location : Ambergris Caye
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South Beach Belize For Sale : $90,000-$399,900
South Beach Belize is a planned project located on the South tip of Ambergris Caye with a design based on the art deco style. The ambitious master plan includes condos, villas, hotels, marina, casino, theater, restaurants and shopping. The project more...Country : Belize
Location : Ambergris Caye
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South Beach Belize For Sale : $90,000-$399,900
South Beach Belize is a planned project located on the South tip of Ambergris Caye with a design based on the art deco style. The master plan includes condos, villas, hotels, marina, casino, theater, restaurants and shopping. The project is more...Country : Belize
Location : Ambergris Caye
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Sapphire Beach Resort For Sale : $99,000-$290,000
Located on Ambergris Caye, Belize, Sapphire Beach is a village style beach front resort. The project is located approximately 7.5 miles north of San Pedro and is accessed by a 20 minute boat ride. Sapphire Beach Resort has resort-style pools, more...Country : Belize
Location : Ambergris Caye
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Sands Villas, Belize For Sale : $375,000-$550,000
A condo resort with 20 units in San Pedro, Ambergris Caye complete with pool and bar facilities. Ocean view properties are available. The units have close access to the amenities of San Pedro which bodes well for rental returns. The more...Country : Belize
Location : Ambergris Caye
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Sanctuary Bay Estates Belize For Sale : $79,000-$230,000
Sanctuary Bay borders the Sapodilla Lagoon and the Cockscomb Basin Wildlife Sanctuary. The master plan offers 135 individual lots with walking access to the Caribbean sea. At 14,000 acres, this could easily become the largest resort community in Belize. (Note more...Country : Belize
Location : Hopkins & Dangriga
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Reef Village Belize For Sale : $120,000-$200,000
Reef Village is located just north of San Pedro on Ambergris Caye. The development plan calls for a "village" with condominiums, shopping area, theater, restaurant, gift shops,boutiques, supermarket and boat dock for home owners. The project has moved ahead quickly more...Country : Belize
Location : Ambergris Caye
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Progresso Heights For Sale : $18,000-$40,000
Progresso Heights is a planned residential community located on Progresso Lagoon, Belize, which leads to Chetumal Bay going out to the Caribbean Sea. Project facilities remain under construction with a few homes having been built. Progresso is a small town more...Country : Belize
Location : Corozal
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Placencia Yacht Club, Belize For Sale : $130,000-$375,000
Placencia Yacht Club is offering serviced lots and condos for sale on Placencia Caye facing downtown Placencia across 400m of water. The development includes 16 Colonial/Victorian style units with private boat slips as well as a newer lot release. Lots more...Country : Belize
Location : Placencia
10 Comments → “Belize Real Estate Overview”
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Sally K Witt
Apr 21, 2012
Looks heavenly! The prices are very impressive. What a nice job to have, offering beautiful options in a lovely area.
Jane
Apr 22, 2012
Hi Sally. Yes it’s a great spot to work in the real estate field.
Joanne
Apr 21, 2012
Looks like a beautiful place.
I would love to visit there one day!
Jane
Apr 22, 2012
Hi Joanne, thanks for stopping by. Yes Belize is beautiful. Many spots offer the picture postcard Caribbean experience. But in addition Belize has an intriguing jungle interior with winding rivers and verdant mountains.
Jimmy
Apr 22, 2012
I just had some good friends vacation there last year. Their pictures were AMAZING! Hopefully I can get there in a few years.
Debra Eckerling
Apr 22, 2012
Looks like Belize is up and coming … and a beautiful place to live. Have met some really nice people from Belize too!
David Allen
Apr 22, 2012
Belize used to be a bit of a dive. Has the place come up in the world lately? At the moment I have more interest to visit Mexico.
Jane
Apr 22, 2012
Hi David, thanks for leaving a reply. Where did you visit? Certainly in the last few years places like Placencia have experienced a bit of a makeover. It’s now fully paved from the Belize City and some very impressive luxury-end developments are going up (many already completed). Ambergris Caye has also had a great deal of infrastructure improvement, in San Pedro itself as well as heading north and south.
Jason Grant-Henriques
Apr 23, 2012
What an exotic place to be selling real estate! Personally i’d like to purchase something in the Grand Baymen Community after i win the lotto of course!
Jane
Apr 23, 2012
Hey Jason, Just dig a little deeper into the prices and I think you’ll be pleasantly surprised!