The process of investing in and purchasing the most desirable international real estate may be overwhelming. In the end, there are many places you can invest and it can be difficult to determine which areas have already hit their highest point and which are on the verge of rising.
We’ve all heard the phrase, “location matters,” and it’s not difficult to see why locations located in South or Central America are so appealing. Beautiful beaches, a mild climate, and a reasonable costs of living positives. A lot of foreign investors are recognizing that Belize has a wealth of untapped potential.
Look over the top five reasons for to put your money into Belize real estate.
1. Tourism is experiencing the rise due to a Meteoric Rise
There are many motives consider investing in real property in Belize. Sometimes, buyers desire to own their own private paradise. It is possible to purchase the purchase of a condo or vacation home in Belize in order to enjoy your time there throughout the season or be able to retire there at some point in the future.
There are many buyers who are also looking to purchase real estate to make a profit. If you are looking to transform your real estate property into an income generator, it’s best to select an area in which tourism is a flourishing business.
In 2022, tourist numbers in Belize have already increased from last year’s levels in a comparison of month-to-month. Visitors are increasing all-around, via the cruise ship and at the airport. A portion of this is due to the high level of investment the Government of Belize and the private sector have invested in infrastructure development projects throughout the region.
In other words the short answer is that the population is growing looking forward to spending time in Belize. If you own a home this is also a growing population who might want to lease a holiday home or condominium.
Remember that a growing tourism sector isn’t just for those looking to earn a profit every year. It’s also perfect for those looking to witness how much value they can get from their home increase or for those who intend to sell their property at some point in the future.
2. The Buyers Own Their Property In full
One of the major hazards when buying real estate abroad is that ownership rights could be complicated. Certain countries require the requirement for citizenship, or residency to be able to purchase your property in full. For foreign investors this may be a source of security issues and problems and hassles.
Another problem that’s common is that when buying real estate in other countries it’s really an “leasehold” that runs for a predetermined amount of time. If you’re planning to gift it to children in the near future it could be a problem.
With Belize real property the issues mentioned above are not present. exist. There is a lack of evidence of land ownership disputes or the use of land in Belize. Anyone, including foreign investors, can buy property in Belize. In addition selling real estate means that the buyer owns the property in full and leaseholds are nearly not even existent. This provides you with a greater assurance of security as well as security.
3. The fluctuations in currency are minimal.
Another worry I frequently receive from people who are contemplating buying a property in a foreign country is the retention of property value. This is a legitimate problem and is crucial to think about in the event that the currency of the area that you’re thinking of buying is extremely volatile when compared to your own currency.
In Belize the currency fluctuation is minimal. In Belize, the Belize Dollar is pegged to the United States Dollar. Two Belize Dollars will always be the exact amount of the same amount of US Dollar. This makes the conversion of currencies simple and simple, however, it also means you won’t notice a drop or decrease in value for your home simply because the market fluctuates.
This is an advantage particularly if you reside within America. United States or deal financially in US Dollars. While property values may, naturally, fluctuate and down in accordance with market trends but they will not drop dramatically due to currency concerns.
4. Property Taxes are at a low level.
Anyone who has owned a property is aware of the regular costs to think about. The maintenance of a house costs money and the property tax are often significant. This is particularly true in numerous affordable locations and in a variety of beachfront locations where homeowners are charged a premium for the property.
In Belize however the property tax rates are quite low. The real estate tax is dependent on the value that is not yet developed of the land you own this means it doesn’t take dimensions or value of your property into consideration. Additionally the tax rate for property is only 1.5 percentage of value of the undeveloped land, making it very affordable.
It means that home owning in Belize is more affordable in a year-to-year comparison than many similar locations, keeping costs down and boosting your profit in the process.
5. Belize Real Estate Market is Not Saturated
With all the benefits of property ownership in Belize it is easy to believe that it’s a buyer’s market or that options for property are very limited. But the opposite is the case.
In Belize the market is very much a buyers’ market. Even though there has been an increase in demand from foreign investors in the past decade but the market isn’t being overcrowded.
There’s plenty of land that is undeveloped, and beachfront properties are still available at prices less than you’d think. Belize is the current leading international Jurisdiction that allows offshore banking within Central America and you’ll find that your money will be used more effectively in Belize than many other countries. In addition, it’s difficult to find a prettier area.
This is just the beginning of the blue hole in regard to the reasons why real property in Belize is a great investment, especially for those who are looking to diversify their investment portfolio. It doesn’t matter if you’re looking for a retirement location or a rental income or a holiday home for your family, Belize offers a wide selection of real estate options that offer numerous benefits.
RE/MAX Belize Real Estate
Mahogany Bay Village, San Pedro, Belize