Real estate in Belize
Location and climate
Belize is a country in Central America, the east coast is washed by the Caribbean Sea. The climate is humid tropical, the hottest in the central regions of the country. In winter, during the day, the air warms up to +30 degrees Celsius, and at night it cools down to +18 degrees. In the mountainous regions of the southwestern part the temperature depends on the height of the terrain.
Property types for sale
Real estate is represented by primary and secondary housing stock (apartments, LCD apartments, individual houses, villas and castles), commercial stock (supermarkets, hotel complexes, shopping centers, restaurants), free lands, and islands.
Market and real estate prices in Belize
The real estate market is developing. Demand is growing for properties in the coastal zone, which is 280 kilometers away. The construction of new residential complexes continues in the country. In recent years, the quality of construction has improved significantly. Investors are especially interested in objects by the sea, there is a wide choice here: the coastline of the country is 280 km. The volume of sales in the secondary market is also increasing, but most of the transactions are going through buying new houses, villas, apartments on the first line to the sea.
The average price of luxury homes in Belize is less than $1 million, well below the average price of similar properties ($2 million or more) in other Caribbean countries.
The minimum prices are:
- apartments (new buildings) - 1,030 USD/ sq.m,
- house — 1500 USD/sq.m,
- commercial real estate — 300 USD/sq.m,
- island — 200 USD/square meter.
The high dynamics of price changes requires constant monitoring and obtaining up-to-date information.
Real estate website in Belize (catalogue)
It is advisable to use the information of experts and follow the recommendations. Investors and buyers are welcomed to use the real estate site GEOLN.COM to look for properties.
Buying property in Belize: the nuances of choice
There are no restrictions on the purchase of real estate by foreigners. There are many options for beachfront property. The popularity of the area, the availability of infrastructure have a significant impact on the price. It should be borne in mind that with the external attractiveness of housing, the accumulation of tourists, the noise of nightclubs and bars, the bustle can create problems for those who prefer secluded living.
Before buying, you should make sure that the object, the declared infrastructure, transport, beach, etc. are available. In Belize, there are many offers of land, you can even buy an island relatively inexpensively. However, it is important to understand that the cost of delivering building materials to the islands is high.
When buying a house in one of the prestigious districts of the city, land can be purchased nearby, where, perhaps, a commercial entertainment facility will be built; the country has problems with legislative regulation that streamlines certain land relations. Prior to construction, a permit must be obtained from the State Administration of the municipality. The issuance process takes approximately four weeks. A building permit is valid for twelve months, and if construction does not start within this period, a new permit must be obtained. In Belize, real estate agents are not licensed, they do not have certificates.
Buying real estate in Belize is making a good investment that gives you the opportunity to receive rental income, relax, and permanently reside in the sunny Caribbean country, which is attractive for tourists and has a comfortable climate.