by Rachel Jensen 
A vacation in Belize delivers a tiny glimpse into the lifestyle and culture of this unique country. So many people return home, determined to make the big leap to own in Belize. But the bottom line is, what does it cost to live in paradise? Real estate prices in Belize vary depending on the location, size, and features of the property, and your budget and needs determine whether property ownership in the Caribbean is an option for you.
Generally speaking, prices are more affordable compared to other Caribbean countries. On the popular island of Ambergris Caye, undeveloped parcels with no utilities generally start around $50,000 USD. Larger parcels and beachfront home sites can be found for more than $350,000 USD. Of course, a limitless budget can nab you your very own private island. How much for an island, you may ask? Prices can start around US $500,000 for a 0.5- to a 1-acre undeveloped private island, and can go as high as US $10 to $12 million for larger 60- to 70-acre islands. Some may even have some development, like homes, docks, and roads.
One of the amazing benefits of owning real estate in Belize is that there is no capital gains tax. As an investor, you may purchase land, develop and then sell it for a profit, without having to pay capital gains tax. Additionally, the property taxes are extremely low, with beachfront properties valued at $200,000 only costing $500-$1,000 a year in property taxes! Those figures are even lower in lesser-developed areas.
Real estate prices in Belize have grown over the years as the country’s tourism industry has expanded. According to local real estate agents across the country, 2003 to 2007 saw tourism destinations and coastal areas’ property prices rising by as much as 30%, whereas mainland properties saw a 15% increase. While those figures dipped during the global economic crisis, 2012 saw a strong rebound, and the growth has been continuous ever since. Even as property prices have gone up in Belize, the numbers are still affordable compared to other countries like Costa Rica, Mexico, and even the US.
Ambergris Caye is on the higher end of property pricing, especially as it is the top tourism destination in the country. A 2-bedroom condo on the beach could run anywhere from US $350,000 to $1,000,000, depending on the location and how accessible it is. Larger homes and condos can easily top the $1 million mark, particularly if it is oceanfront.
The rapidly growing leeward community known as Secret Beach has also exploded, with numerous waterside businesses taking advantage of the clear waters and a huge draw for tourists and locals. Undeveloped land that used to go for $12,500 nearly a decade ago now commands prices starting at $60,000.
Elsewhere in the country, Placencia comes a not-so-close second to Ambergris Caye. Prices still range from $200,000 to $500,000 for condominiums on the beach. Residential homes can go for a lot less.
From undeveloped land to move-in ready homes to live in full time or rent, the deals are numerous. Bear in mind that Belize has strict environmental regulations, so it is a good idea to seek the advice of an expert, before purchasing raw land – especially if the price seems too good to be true. Experts include your real estate agent/broker and even a real estate attorney. Careful research and good advice can lead to a successful investment in Belize real estate, and your dreams of living a tropical paradise lifestyle can become reality.
