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Belize Properties: 10 Reasons Why You Should Invest In Them
If someone asks you whether you are interested in investing in real estate in a foreign country, most of the time you will reply in negative. Your worrying about this mode of investment is well understood given the collapse and lowering of property prices across USA and UK. Moreover, getting domestic mortgage is becoming tougher day by day and so getting one for buying property abroad will be next to impossible! Well, you can put all these worries to rest if you are going to buy a property in the Central American country of Belize. This is not a random or speculative thought; leading market experts of Wall Street Journal and Coldwell Banker agree that Belize real estate market is one market that is rock solid amid others that are failing. Here are 10 reasons why investing in Belize real estate market makes sense:
- Unlike other markets, property prices in Belize are rising steadily. As the study of Coldwell Banker has pointed out, that between 2006 and 2007, the average price of a 220 sqm house in San Pedro has increased in the average of 18.6%. This growth is going to rise in the future as well as the base prices of properties in Belize remain highly affordable.
- This study has also been cited by Wall Street Journal that has published its own report in which they praised Belize as the most valuable real estate market in the whole Central American region.
- In another report, published by Boston Global, it has been written that Belize is a much better choice for real estate investment than countries like Costa Rica or Panama. That is because the government in Belize is much more transparent and being an ex-British colony, the laws regarding property purchase and transfer as well as related papers are in English and hence easily comprehended. So chances of your investment going bad are very slim in Belize.
- As said before, English is the spoken language in Belize unlike other countries of the region. So people from English-speaking countries like US, UK, Australia and others will have no problem communicating in this country. This country is gaining popularity not only as a tourist destination, but also as a place to live after retirement. That is why demand for holiday home or retirement home is very high; which means if you decide to sell your property, you will find many takers!
- The value of Belizean dollar is fixed 2 to 1 with the US dollar which makes it a very stable currency. At the moment, Euro and Pound Sterling is quite strong compared to US dollar giving a great opportunity for people from these regions to invest cheaply in Belize real estate market.
- Foreign buyers like you never face any kind of restriction while buying property in Belize.
- The property tax in Belize is very low for property owners and they don’t have to pay any kind of estate tax or capital gains.
- Tourism industry is the biggest segment of the country’s economy. Rental properties are very much in demand and you will be glad to know that tax on rental incomes is only 1.75% of the gross receipts.
- The rise of property prices in Belize is not sudden; if you see the market of popular Belize spots like Cayes for the last 20 years, you will see that the rise has been slow but steady. It has grown naturally as demand has grown for properties here, and this demand is showing no sign of waning in the near future!
- Lastly, the beauty of Belize is such that it makes people come to the country again and again. It has the second largest coral barrier reef, lush green tropical forests that have some of the rarest plant and animal specimens and ruins of the great Mayan civilization that are still amazing to look at. Life here is good but not costly. All these make Belize the best market for you to invest in real estate.