Article
Growth Potential of Belize Real Estate An Analysis
The Mayan influence and a colonial past make the culture of Belize colorful and interesting. In addition of rich history, natural beauty is definitely a strong point of modern Belize. Thanks to a stable government and spur of economic activities, Belize has become an attractive real estate destination in the recent times.
The following figures explain why Belize is counted as one of the most attractive real estate destinations
Nearly over a decade, Belize has maintained a strong economic growth. Over the past nine years, Belize’s economy has developed at a rate of 4% per annum. During this period there has been a surge in foreign direct investment and real estate is an important sector to get benefited by this surge in investment. The currency in the country is based on US dollar. To add to the benefit, the real estate investors are exempted from any capital gains tax or inheritance tax. All these together contribute to the real estate investment potentials of the country.
Let’s make a list of real estate the benefits in the country
The country has been experiencing steady economic growth over the past few years. Being a major tourist destination of the world, the country experiences a year long tourist influx, which accounts for the growth in the tourism related real estate in the country. An investor can be ensured of a high year round rental yields from these properties.
Qualified Retired Persons Incentive Act encourages migration to the country.
The property buying process is pretty straight forward.
At present the rental yields from investment property is around the 4.5%. But a hike is predicted in the coming years with the increase in the demands.
Here is a brief price history to show the type of real estate appreciation in some parts of the country.
In Belize prices are mostly expressed in terms of frontage. Let’s first take up the case of Ambergris Caye, which is an upscale area in Belize. Even four or five years ago, you could have bought properties in this area for a $1,000 to $1,500 per frontage foot. Now you have to cough up US$4,000 to US$5,000 for the same property. In the town of San Pedro, centre properties will cost you prices around US$15,000 per square foot.
Between the span of 2005 and 2006 alone, there was almost 50% hike on the prices of the coastal properties.
To make most out of your investment, you can purchase a property with a relatively small frontage and then expand the structure on the back.
In Belize, property prices greatly vary with areas. If you are tight on budget, look for rural properties which can be available for as little as US$5,000. Among the most prized properties in this country are the beach properties of San Pedro; Here the property prices starts at US$500,000.
If you are considering international real estate investment, Belize can give you the best value for money. To take the advantage of the lower price level and high capital growth potentials, hit the Belize real estate market right now.
