You might think that investing in property anywhere in the world right now is tantamount to madness – after all house prices in the US and UK are falling and therefore the value of our equity is on the slide. Added to this it is getting harder and harder to arrange domestic mortgages let alone raise one to buy abroad. But what if I were to tell you that there really is one market in the world where it still makes sense to buy property ?
It’s true – and I’m not alone in my thinking either – the likes of The Wall Street Journal and Coldwell Banker agree with me! The market I’m talking about is Belize and here’s not just one but ten reasons to invest in property in Belize when all around you real estate markets are failing!
1) Property prices in Belize are still on the rise. A Coldwell Banker study revealed that the average price of a 220sqm home in San Pedro in Belize increased on average 18.6% between 2006 and 2007 – and because base prices in the nation are still so affordable, there is still room for yet more growth.
2) The Wall Street Journal cited the above facts in a report that it published to prove that Belize’s real estate market is one of the best value markets in the Central American region and to invest in property in Belize might be a wise choice.
3) The Boston Globe has published an article proving that Belize is not only good value, but that compared to the likes of Panama and Costa Rica, Belize is easy for property investors and buyers to get their hands on property because the buying process is more transparent and it is conducted in English.
4) Belize is the only English speaking nation in Central America – making it easy to invest in property in Belize if you are British, Canadian, American or Australian for example – and making it hugely attractive to English speakers as a second, retirement or holiday home nation for example – which means buyers have plenty of people to target when it comes to their exit strategy!
5) The Belizean dollar is fixed 2 to 1 with the US dollar making it stable and also making it very cheap at the moment for European and British buyers whose currencies are strong compared to the dollar.
6) No restrictions are place on you as a foreign buyer of property in Belize.
7) Those who own real estate in Belize pay no capital gains or estate taxes and very low property taxes.
8) Rental yields are improving as tourism in Belize flourishes ,and the best news is that rental income is only taxed at only 1.75% of gross receipts.
9) Property prices have slowly but steadily been increasing in the most popular parts of Belize such as the Cayes for at least the last 20 years – showing that the market is stable and based on increasing demand – and rest assured, demand is still increasing!
10) Finally, Belize is a stunning nation of beautiful contrasts, a safe and secure nation, one that is becoming easier to access and one where the climate is fabulous. It has reefs and rainforests, wild and rare flora and fauna, it is historically and culturally rich and what’s more, the standard of living is good whilst the cost of living is low making an investment into property in Belize quite possibly a very sound one indeed!