Real Estate In Belize Is Set To Take Off
Real estate in Belize is set to take off. A few issues ago, International Living magazine told of the flood of Brits who were coming to Belize to look for land. They had cautioned everyone to buy now before the prices went up. They told about the many excellent reasons for buying in Belize such as the legal system, low profile aspect, English speaking country, not far from North American friends and relatives, low property taxes, and the private investment aspect of real estate in Belize.
You can still purchase property in Palm Bay Club for $20,000.
Will the government or someone else confiscate your real estate in Belize if you are not watching it? Property ownership in Belize is ardently protected, and foreigners are treated the same as locals. Clear title is conveyed through a Land Certificate, and title insurance is available. In addition, all contracts are in English, and the country was founded on British Common Law tradition. For these reasons, Belize is a haven for anyone looking for straightforward undisputed land ownership.
Is the government stable and is there a history of government changes so that you have no assurances that your real estate in Belize is safe? This is a democratic nation of only 300,000 people, and the elected officials are under a microscope. There are two parties, the PUP (blue) and the UDP (red), and you will find that loyalties in Belize, like history and tradition, run deep. One marker of a great democracy is a free press, where citizens openly discuss the issues. That legacy is alive and well in Belize and this country has not been involved in a war since 1798. That is over 200 years ago so please rest assured.
Furthermore, let us admire the private investment aspect of real estate in Belize. Most governments do not legally require you to reveal overseas land you own on a special government form annually like you must do for a foreign bank account in some countries. So purchasing real estate in Belize is an excellent way for you to have a private investment that will move up in value over time. Do not let the socialists take your money and property. Make a private real estate in Belize investment now.
Another aspect of real estate in Belize that very few people consider is it's low profileness. As the Open Road Travel Guide puts it, 'Peaceful and non-meddlesome, blissfully unimportant, Belize rarely merits attention in any foreign newspaper. So do not worry about your nosy government being interested in who owns what in Belize. They are not going to go on a witch hunt concerning who owns real estate in Belize like they did in Switzerland concerning who has money in Swiss bank accounts.
Are the property taxes low on real estate in Belize? Belizeans are so adamant about maintaining control of their real estate that they vehemently oppose any increase in property tax. Understanding the people's position, the Belize government continues to keep these taxes low. The highest rate of property tax is imposed on waterfront property, but it is still negligible. The assessment is based on a valuation of BZ$10,000 (US$5,000) per acre if the land is within a half-mile of the water or on an island. The property owner is then taxed 1% of that value. So an acre of waterfront property is taxed US $50 a year. Now, those are taxes that you can live with.