Discover the Value of Belize Real Estate
with Coconut Property Auction
Belize offers a rich cultural history, unparalleled nature and wildlife, and some of the world’s finest recreational water activities, including fishing, boating, snorkeling and scuba diving.
Real estate in Belize offers many benefits for investment or retirement, and Coconut Property Auction is here to guide you through the process and ensure you get the greatest value and security from your real estate transaction.
Here are the key considerations for investing in Belize real estate:
- English is the official language in Belize, the contracts are in English and & you’re subject to laws you can understand.
- Belize is a stable democracy with a long tradition of private property rights, so you can feel confident that the laws won’t change at a whim.
- Belize offers modern telecommunications infrastructure & efficient postal service, keeping you connected with the rest of the world.
- With no capital gains tax, no inheritance taxes and a fixed currency pegged to the US dollar, Belize shelters you from the risks and volatility typical of other countries.
- Property appreciation has remained steady and strong, while still being an excellent value
for your dollar.
- Belize is a hospitable land free of racial tensions, serious crime and daily pressures.
- No distinction is made between Belize citizens and expats with regards to real estate.
- The locals in Belize are welcoming and and it’s easy for expats to integrate with their communities.
- With miles & miles of sandy beaches plus the largest barrier reef in the Western hemisphere, Belize ranks among the strongest emerging markets in which to invest.
Belize has a legal system based on British law and is the only English speaking country in Central America, making property transactions here both secure and comprehensible. Foreigners can buy and own land of any kind, including beachfront property. The purchase of an island requires approval from the Ministry of Natural Resources.
Purchasing a property in Belize involves a number of regulations. Coconut Property Auction can guide you through the real estate paperwork, minimizing the need for you to do much of it yourself.
Deeds can be transferred into your name within days of paying a deposit, but you must be able to meet certain criteria to do this. When you find your dream property & make an offer, you’re typically required to pay a 10% deposit to secure the property and begin the process of transferring the property into your name. You must prove you’re able to pay the balance, either with funds you have available or through a pre-arranged mortgage, before the Government Lands Department can complete the registration of the property. This process typically takes between 4 and 12 weeks.
Buyers have to pay a government stamp duty, which is 5 percent of the purchase price. The first US $10,000 is exempt. A registration fee for the new title deed is also required. This is usually US $15. The seller covers the property tax charges and the buyer pays for the stamp duty, recording of registration fees, and the real estate charge (if applicable). Title insurance is available here, but few use it.
If your property is bigger than half an acre in a town, or more than 10 acres in the countryside your transaction requires permission from the government. You should submit a plan for development which will need to be approved. If the land has already been developed then you only require a licence from the Ministry of Natural Resources to complete the purchase.
Property tax is about 1% for developed properties and 1.5% for undeveloped land. We can advise you when, where and how much to pay for the yearly property tax.