Belize has white sand beaches and great values on Real Estate purchases. Appreciation on property has remained steady and Belize has no capital gains tax or inheritance tax as well. The Islands there are called Cayes (Pronounced Keys). When buying property , there are not only zoning laws, but there are also deed restrictions. The deed restrictions are additional rules and regulations about the use of the land. If you are making an offer on a property make it contingent upon your review and approval of the zoning laws and deed restrictions. Deed restrictions often help property owners maintain a higher quality of property standards, which also ensures maintaining higher property values. They serve to protect property ownership rights, similar to the covenants of a subdivision. In some cases the zoning laws are more liberal. The deed restrictions usually take precedence unless they directly conflict with the zoning laws already established. An example might be zoning laws stating 1 story buildings only, while the deed restriction states 2 stories are OK. Have an attorney search the title and interpret the zoning and deed restrictions. Do not rely solely on your Realtor, if you do you are making a huge mistake. There are no education requirements for Realtors in Belize. Ask what kind of experience your Realtor has, and ask for attorneys they would refer.
Islands in Belize. There are over 200 Islands in Belize, the most popular of which is Ambergris Caye. It is the largest Island in Belize and a very popular destination for vacationers. There are many places just as beautiful and undiscovered though. In order to find these hidden gems be prepared to go and search as most are not advertised. Many for sale by owners can be bought at very reasonable prices. So go and discover the many treasures to be found in Belize.
Ownership restrictions: Foreigners can buy and own property including beachfront, in the same way as Belizeans. Formerly an alien landholders license was needed for purchasing certain properties, but such a license is no longer required. The only ownership limitation now in place is if you are buying an Island. In that case you need special permission from the Ministry of Natural Resources. Also a few coastal and caye areas require approval by the local council prior to purchase. Property taxes are reasonable. Approximately 1% of the unimproved property value. A $200,000 home’s taxes would be approximately $200 per year.
Example of Real Estate on Ambergris Caye: Beachfront 110 x 50 just south of San Pedro Good Elevation / Lot Ready to Build $219,000 USD
50′ Waterfront on Canal 2100 sq ft Home 2 bd Loft upstairs rental income to be made on downstairs 6 bd 6 bth Only $199,500 USD
