Find out below why Belize is currently offering such a strong investment option for international real estate buyers.
The population of Belize grew by 2.65% last year, which is one of the fastest growth rates in the Western world. The stable political system has seen an influx of workers from the nearby countries, which has further increased the demand for housing.
Belize is generally considered to be the most affordable Caribbean market, although the increase in demand seen over the last few years has put upward pressure on the prices of real estate.
The ability to buy residential land, or vacation homes, at a price of just a fraction of what it would cost on one of the islands has not gone unnoticed.
The option of buying U.S. issued title insurance guarantees you free and clear title, and there is also no Capital Gains taxes to pay once you sell your investment.
The mixture of a low cost of living and a high quality of life has seen a large number of retirees and families from the United States and Canada relocate to Belize, which has increased the demand for accommodation significantly – especially homes in planned residential communities that are similar to the ones found “back home”.
The QRP is a program that allows anybody to retire in Belize without having to make an investment into a local business, or be offered a highly skilled position with a local employer. As long as enough income in retirement through any means can be proven (savings, investments, social security) the person is allowed to relocate to Belize, and can also bring a large number of personal effects (cars, furniture, other large items) without paying any import duties.
Belize used to be known as “British Honduras” up until 1981, and the laws- as well as title system in the country is based on the British system, including the way real estate transactions are carried out.
The Belizean title system does allow for ownership thru foreign companies, foreign individuals, and foreign trusts, and allows ownership of both finished properties as well as vacant land.
Though they have started to come down, interest rates remain very high, at 11-13%, which currently means that many real estate transactions are carried out either using cash, or using seller financing. Traditionally, once interest rates are under control and bank financing becomes available, the real estate market is almost always affected in a positive way.
Our Belize Investment Research section allows you to investigate further into investment property in Belize and the location as a whole.
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