Belize; mother natureʼs best-kept secret
The Central American country of Belize may be small but itʼs perfectly formed. With a population of not much over 300,000 Belize is significantly less hectic than probably any other country in the region and offers diverse landscapes from tropical forests to white, sandy beaches. There are also many business and trading opportunities.
Belize is growing in popularity as a place to live or have a second home. Itʼs also well worth considering if you are looking for an investment holiday property. With tropical beaches, an appealing climate, low crime rates and a cheap but still high quality standard of living there are many good reasons to buy a property here.
Of course all that means little unless people want to move to, or holiday in, Belize. The good news is that increasing numbers of people are visiting with key sectors such as the American and European markets showing great strength. The growing desirability of Belize and the increasing international realisation that the country is becoming a popular tourist destination, make it a potentially good place to invest.
If you are thinking of buying in Belize then one major advantage is that you can, easily, with no restrictions. A foreigner has the same rights as a Belizean when it comes to purchasing a property and there are no extra fees for hoops to jump through for overseas buyers.
Another plus point is the affordability of the properties, especially when compared to other parts of the region. This means if you get into the market before prices rocket there is a real opportunity to make substantial returns on your investment.
With property investing, timing is always vitally important and with homes climbing in value, now could be a good time to enter the market.
Location, location, location. Where you buy is also very important. With its position on the Caribbean Sea, coastal areas are always going to be the most popular and desirable in Belize as everyone wants to tap into the tropical sun, sea and sand lifestyle the country offers. These areas also tend to have the best infrastructure and amenities.
If you are over 45 then you are eligible to apply for the tax break scheme – the Belize Retired Persons Incentive Programme. It`s considered to be one of the worldʼs best for retirees and makes Belize a very attractive place for any older Brits considering moving abroad in the later stages of life.
On a practical level English is the official language of Belize so there are no concerns about interpreting documents and dealing with estate agents and lenders should be straightforward. Estate agents however arenʼt regulated so do your research to find reputable ones. Itʼs also important to find a good lawyer to ensure smooth passage for your property purchase.
Belize was part of the British Empire and is still a member of the Commonwealth so while distinctly Caribbean in nature there should still be some familiarity for Brits looking to move abroad and of course, no language barrier.
Financing the purchase of your property will be one of your main considerations and itʼs vital to know that the sums will add up. At simplyfinance.co.uk you can find a whole range of advice and also a vast array of online calculators to help you crunch the numbers.