I wouldn’t even have considered buying the villa without much research, but commercial property was easy for someone who has had an income-generating property for over 50 years. When I made that purchase several years ago, there was NO doubt that Ambergris Caye was and is booming. If you visit Belize and get the “bug” like I did, I definitely recommend Ambergris Caye or Caye Caulker instead of the mainland. Belize is a VERY poor country and, I suggest, buy property in tourist areas with lots of tourists. Ambergris Caye is the largest island off the coast of Belize and my experiences in Belize are centered there. Personally, if I was 100% sure I wanted to retire to Ireland, I would buy the house there now.
There is also a great need for developments on the west coast, because most of the country in the east is already occupied. In just eight years, the cost of land parcels has skyrocketed from $9,000 to more than $40,000 and they still have room to grow. By comparison, right now they’re already costing about $53,000 on the East Coast, while still being poised for significant growth.
Therefore, real estate on the moon is still very cheap. If you are looking for rental income, Belize Real Estate focus on San Pedro or Placencia. These are the busiest tourist destinations in Belize.
Belize is also a major player in the ecotourism market and ranked as world class for diving and snorkeling. The barrier reef here is second in size after the Great Barrier Reef in Queensland, Australia. Belize is unique in that it has a shared identity with Central America and the Caribbean. The small country is located in Central America and is bordered on the north by Mexico, on the south and west by Guatemala and on the east by the turquoise Caribbean Sea. It is a surprisingly diverse country with different cultures and languages flourishing side by side.
You may also only be able to rent out your property for a few months a year, as those are the only months someone wants to be in the country. Not so with Belize, which has a temperate and temperate climate all year round. Belize is never more than 2 hours away from PST or EST. While there has been a growing interest from foreign investors over the past decade, the market is far from saturated. With all the obvious benefits of real estate in Belize, you can assume that it is a seller’s market or that the real estate options are limited. This means that real estate in Belize is cheaper year after year than in many similar destinations, keeping costs low and, as a result, increasing your profits.
Contact Wrobel &Co, lawyers, and we will help you on your way by linking you to a trusted broker. For more information about buying property in Belize, visit our Belize retirement FAQ page here. However, your location should play a role in your decision. Ambergris Caye, Placencia, Cayo, Caye Caulker and Cerros Sands are, in our opinion, some of the best places to invest in Belize Real Estate in 2020.
Therefore, the demand for a holiday home or a retirement home is very high; Which means that if you decide to sell your property, you will find a lot of buyers! The value of the Belizean dollar is fixed 2 to 1 with the US dollar, making it a very stable currency. The tourism industry is the largest segment of the country’s economy. Rental housing is in high demand and you will be pleased to know that the tax on rental income is only 1.75% of gross income. It has, of course, grown as the demand for housing has grown here, and this demand shows no signs of slowing down in the near future! Finally, the beauty of Belize is such that it causes people to come to the country again and again.