The Caribbean country of Belize has become one of the region’s most popular destinations for Americans looking to retire abroad, and there are a lot of reasons for that. The beautiful views, the fact that English is the native language, and the fact that you can own property outright even as a foreigner are all appealing in their own right — but Belize properties also have the advantage of being some of the best deals in Central America and the Caribbean. But as a developing country with a huge tourism industry, prices can fluctuate dramatically depending on location. Having a local real estate agent with an expert lay of the land is crucial whether you’re buying your dream home or an investment property, but there are a few considerations you can keep in mind before starting your hunt in earnest.
Price Variations by View
Sunny beaches normally feature prominently in sales pitches for Belize real estate, so it only makes sense that ocean views can dramatically raise the cost of the property — and that properties with an actual beachfront location command the highest prices of all. In a resort town like San Pedro, it’s not unexpected to pay double for a beachfront house what you would for a house that just has a view of the beach. Fortunately, the market for foreigners is focused so strongly on beachside properties that you can get a large home with an incredible jungle view for just a fraction of the cost of a beach house.
Price Variations by Region
As you might expect, the cost of properties skyrocket dramatically in and around the most popular tourist towns. Ambergris Caye — the most popular Belizean island for tourists and one very close to the Belize Barrier Reef — charts housing prices at over $100 per square foot, but that number plummets to around $75 per square foot in the town of Orange Walk. It’s understandably a popular choice with expats. Naturally, as you begin to journey west away from the beaches and towards the jungles of the Cayo District, house prices drop dramatically. You can get a great deal on a property in San Ignacio or the capital of Belmopan.
Price Variations by Property Type
Beachfront houses tend to cost significantly more than equivalent condos, but that discrepancy is far more narrow when looking comparing houses and condos that have a view but don’t open out directly onto the beach. When you start looking at buying empty lots, the differences between where the property is located become negligible. Thanks to low property taxes, buying undeveloped lots can be the best way to get the most bang for your buck. But you might need to wait patiently for infrastructure to catch up if you buy a particularly remote property on a song. Also bear in mind that constructing a house in Belize can be a longer and more complicated affair than in the United States and that building costs rise dramatically on islands.
If you’re thinking about buying real estate in Belize, you definitely should have an expert by your side. Reach out to Hesed Realty to discuss your needs and learn more about the options available to you.
Questions about buying real estate in Belize? Contact us by email at firstname.lastname@example.org or by WhatsApp +501 664-1692.