Buy Real Estate in Belize
Americans seeking to enjoy sun-kissed beaches and warm, tropical vacation destinations have increasingly been turning towards Belize as a great alternative to Mexico and the Caribbean.
On April 15, 2018, business media site CNBC published an article that demonstrated how Central American destinations like Belize have generated more than $5 billion in tourism revenue, most of it from Americans and Canadians seeking less crowded beaches and resorts in warm-weather latitudes.
Certainly, Belize has been undergoing an explosion in terms of tourist numbers. Overnight visitors in 2017 were up over 20% from the year prior, and the last five years have all seen double-digit growth. Another tourism record in Belize was broken in 2017 when the country reported more than 1 million cruise ship passenger visitors for the first time.
Concomitant with the explosive growth in tourism numbers is a similar expansion in the real estate market in Belize. Due to the ease in which foreigners can buy, sell, and rent property, the fact that all legal documents and contracts are in English, and very low taxes, more and more expats and retirees are choosing to purchase real estate in Belize.
Indeed, many savvy investors are turning to real estate in Belize as a safe investment. The vacation property market is doing extremely well thanks to platforms like AirBNB and HomeAway, and Belizean law allows foreigners to establish offshore companies that can own and manage real estate, thus protecting valuable assets. Furthermore, Belize imposes no capital gains taxes, and property taxes are assessed at just 1-1.5% of the unimproved value of the property.
One of the best places to buy a home or invest in real estate in Belize is the community of Cerros Sands. Located in Belize’s beautiful Corozal District just across the water from the island of Ambergris Caye, Cerros Sands is a true “community in the country” offering homes, condominiums, and waterfront lots starting at just $17,700. Cerros Sands is 100% self-sufficient and “off the grid,” entirely powered by renewable energy sources and offers residents the ability to enjoy modern comforts and conveniences in a laid-back, pristine Caribbean environment.
Cerros Sands has a burgeoning expat community, making it very easy for new residents to integrate and feel at home. And thanks to the community’s proximity to top tourist destinations such as Ambergris Caye, Cerros Sands is also well-positioned to take advantage of the red-hot vacation rental market.
If you’d like to learn more about buying real estate in Belize, contact Cerros Sands today.