Why Belize Is The Ideal Real Estate Investment Location RE MAX Island Real Estate
This is because the country as a whole, and Ambergris Caye in particular, does not currently have the facilities to meet current demand and enable large-scale charter tourism. Established Caribbean destinations depend on their thriving tourism industries. Private homes within the larger mahogany bay village development would help alleviate this supply constraint and bring the market closer to demand. This beach of the same family is designed as an eco-city with organic greenhouses and based on the following models of a free city.
The option to purchase lots, homes or land overlooking the canal and beach in San Pedro, starting at just $40,000 per lot and excellent financing options for Mundo readers. There are endless family activities and a great nightlife on the island. The island is just a 30-minute boat ride from the world’s most famous dive site and is surrounded by the second largest Mahogany Bay Property coral reef in the world. When you can go to a market and buy before demand has arrived and prices have gone to the moon, you’ve locked in their costs. And if the numbers make sense in acquisitions, then holding to increase cash flow and capital growth makes a profitable proposition. Now, right now, real estate in Belize is not ridiculously expensive.
That said, belize’s locals are incredibly diverse, consisting of people of Creole, Garifuna, mestizo, Spanish, Maya, English, Mennonite, Lebanese, Chinese and South Asian descent. Although Belize is best known for its pristine natural beauty, just a hop, hop, and hop from the United States, it also offers other benefits to investors. The country also has a very attractive tax environment. There are no capital gains taxes and property taxes are love, estimated at between 1% and 1.5% of the unrealted value of land. As mentioned above, the Belize Skilled Retirement Program program allows successful applicants to enjoy tax freedom on income from outside Belize. The income tax rate in Belize on all rental income from real estate is only 1.75%, only a few hundred dollars a year on most new properties.
The immediate surrounding area has a variety of beachfront eateries, as well as local restaurants, cafes, shops and supermarkets. Property taxes are low, so the overheads of owning in Belize are attractive. English is the official language of Belize, so there is no need to learn a new language or translate legal documents. It’s a Caribbean destination that’s budget-friendly compared to almost everything else in the Caribbean, so it appeals to more than just the high-end traveler. Learn more about the world’s best places to buy property in our free weekly overseas real estate alert + FREE REPORT: The world’s best real estate markets. When you buy a lot of Naia Residences, all the infrastructure is already in place.
As everywhere else in the world, there are local real estate scams in Belize. Beware of fast-talking brokers, lawyers or anyone who makes a pitch under high pressure. Don’t be afraid to walk away or take your own intentional time in a real estate transaction. Most real estate agents in Belize are immigrants from North America who have literally taken over this business from Belizeans. It’s understandable that you’re more comfortable with someone who looks like you, speaks like you, and is probably from your own country. Among Belize’s many attractions, there is no more important to potential retirees and expats than the relatively low cost of ownership and housing.
This is especially true for many affordable destinations, as well as many waterfront locations where buyers pay a premium to own a home. Belize is a Central American country located in the Caribbean Sea. The country has a tropical climate and is home to many beautiful beaches, rainforests and Mayan ruins. Belize is a popular tourist destination and has become increasingly popular with retirees and investors in recent years. Belize is a beautiful country located in Central America along the Caribbean coast with a population of just under 400,000 people. The country has a thriving tourism industry and is home to many American and Canadian expatriates.
Their 5-year-old son went to the local school and they thought it was a wonderful place for their adventurous family. Before that, we had considered buying a property in a place where we could imagine that we would eventually retire. Buying beautiful property in Ambergris Caye Belize was pretty easy, and it was worth it when we sold it.
Unlike many of the other tourist spots in the region, Belize has been able to retain its unadulterated Caribbean charm. You won’t find chain restaurants or large shopping complexes. With the development of infrastructure to meet north American living standards, Belize has been able to make the necessary improvements without promoting trade for culture. In 2011, Belize’s tourism accounted for 12 percent of the country’s GDP, at $176 million. By the end of 2018, that number had grown to more than 38 percent, generating more than $244 million in revenue for the country. Discover the benefits of investing in Belize in our investor guide.
If you’re looking for instant gratification, you can buy a vacation home and use it often and probably break even or do some cash flow. For a strictly effective cash flow; Buy a commercial building. That wouldn’t be affordable if you only bought one house. For an investment in the tourism sector, Ambergris offers a lot. It boasts a mature tourist market in a place that is best-in-class, in a country that is world famous for its varied tourist potential … From exploring Mayan ruins to watching a giant manta mine working the barrier reef.