One of
the most important factors in the success of a property investment
in Belize (or any other country for that matter) is the ability to
pick a gem of a property. Finding property for sale in Belize is
relatively easy, when you know what you are looking for.
Property prices, in Belize, vary enormously from region to region.
This isn’t really surprising as Belize is one of the most varied
countries in the world when it comes to types of property and
regional locations.
For
example, Belize City is a thriving, cosmopolitan resort and this is
likely to continue with the opening of a new airport offering direct
links to Europe and the USA and therefore encouraging more visitors
with a higher disposable income. An apartment in the centre of
Belize City
could set you back as much as $200,000, although a reasonable
purchase could be made for half this amount.
When
moving towards the more rural areas such as San Ignacio, situated on
Cahal Pech hill, a three-bedroomed property located on a large plot
of land, with spectacular views, can be purchased for as little as
$120,000.
Moving
south, towards the beach resorts, a seafront condo on Ambergris Caye
can cost as much as $250,000.
Locating Property in
Belize
Finding a property for sale in Belize is actually a lot easier said
than done. Unlike the real estate market in the UK, more than 75
percent of properties are not advertised with an agent, but are sold
through word of mouth. For this reason, anyone trying to locate a
property for sale in Belize will require an alternative approach.
Foreigners looking to buy in
Belize
will need either to spend a considerable amount of time in the
country, sourcing property for sale, or employing an agent to locate
property on their behalf. The latter of course will involve an added
purchase cost, although these costs can often be agreed upon with
the vendor’s agent, so that you do not incur any of the additional
cost.
One
thing to bear in mind is that, in a market that relies almost
exclusively on word of mouth, one of the best ways to find a
property for sale in Belize is simply to tell people who already
live in the country that you are looking for a new property. By
doing this, it is likely that you will be inundated, directly, with
details of potentially available properties.
By
dealing directly with the sellers, you will find that negotiating a
property sale is often a lot quicker than in the UK. However, not
all purchasers are happy dealing directly with the vendor and this
can be a substantial disadvantage when dealing with purchasing a
property in Belize.
If you
do find yourself dealing with a real estate broker, it is vital that
you realise there is no set standard for agents in the country.
Because of this, the standard of service that you will receive can
vary immensely from broker to broker. In many cases, it is likely
that you will find hoteliers, taxi drivers and other individuals who
are real estate brokers ‘on the side’.
There
are costs involved in dealing with real estate agents, although
these are primarily borne by the vendor and will normally amount to
between 7 and 10 percent of the sale price.
No
matter which way you intend to find property for sale in Belize, it
is important to remain focused on what it is that you truly want.
With such a wide range of options and by dealing with the vendor
directly, the pressures of buying a property in Belize can be
incredibly demanding and stressful. For this reason, it is vital
that you do your research and stick to your criteria. This way, you
will be certain that you end up with that perfect property!
Buying Property
in Placencia Peninsula in
Belize
