BELIZEmagazine.com - The Internet Magazine of Belize

Belize is one of the tiniest and little known countries in Central America. But of late, Belize has been capturing the attention and the hearts of those who have visited and experienced its beauty, its wonders, and its treasures. So much so, that many people are not only interested in visiting this jewel, but also in owning vacation property or relocating to Belize.


	Beautiful seafront property located close to Belize City.


	Pristine river front properties located all over Belize.


	22 acres farming property on the Hummingbird Highway.

Anyone can own real estate in Belize. Here's some advice on how Century 21 BTAL can help you in finding your dream home.

Purchasing Real Estate does not have to be a stressful task. First, contact your Century 21 BTAL agent. We have listings for all types of properties including, beach front, river front, farming, residential, and commercial property. Our agents also work along with other agents to locate the best property for our clients. When we find that perfect property for you, a suitable price can be negotiated. Once you have established a purchase price a formal agreement between the parties involved is created. Earnest money deposit is usually given to make the agreement more formal and to remove the property from the market (usual deposit is approximately 10% of the selling consideration). The remaining balance will be paid on or before the agreed closing date when the legal land transfers have been signed by both the seller and buyer and the seller delivers the Original Ownership documents. Stage two of the purchase takes place with the closing. Closing costs are incurred by the Purchaser or as agreed by both parties.

A non-Belizean who would like to purchase real estate would need to consider the following requirements:

Non-Belizeans pay 10% of the Purchase Consideration as Stamp Duty/Transfer Tax to the Government of Belize
Registration fees are very minimal (approximately $15.00US)
Lawyer's fee for legal services for the transfer of property is approximately 1-3% of selling consideration (It varies from lawyer to lawyer)
Each individual is entitled to seek their own legal counsel.
Total approximate closing cost for a non-Belizean is 11-13% of the selling consideration
Title Insurance is available at purchaser's expense

Government taxes also play a role in the cost of acquiring real estate in Belize. Here are the taxes that will apply:

Property tax is approximately 1-1.5% of the Assessed Value by the Valuation Department at the Lands Department
A speculation tax of 5% of the Assessed Value set by the Valuation Department at the Lands Department is paid for anyone owning over 300 acres of undeveloped land. The speculation tax is payable at the 1st of April of each year. This tax was introduced in 2002 to deter anyone from purchasing properties for speculation and to encourage development.

Like anywhere else in the world, real estate prices are set by many factors that have direct impact on the land or property value. These can include: the location of property; road accessibility to the property; proximity to major towns and villages and shopping centers; proximity to International Airports and International Import/Export Ports; utilities; "Qualification" of property: i.e. Commercial, Residential or both, etc...; "Quality" of improved or unimproved property; building materials and finishing touches, and the distance for transporting of goods.


Beachfront properties in Placencia.


Subdivision of properties located along Cave's Branch River.

The average cost for a home in Belize starts at US$55.00 per square foot and can go up to over US$75 per square foot. The cost of open lots or commercial property ranges widely.

Belize is indeed one of "mother nature's best kept secrets" and a new competitive market in the Caribbean. Belize's real estate market in comparison to real estate in the Caribbean is one of the most reasonably priced. Our proximity to North America and Central America as well as the fact that we are an English-speaking country are seen as assets to our foreign investors.

Real Estate prices are expected to appreciate as the demand for property in Belize has increased. Many investors have seen the potential already and have decided to contact their Century 21 BTAL agent to make their move now. We encourage you to do the same!