A guide to buying property in Belize

Belize is a superb country to invest in – the house prices are still cheap, although they are increasing year on year, and the living costs are a fraction of European living costs. Even on a pensioner’s state pension, you can afford to eat out twice a week and still retain a good standard of living. Belize is politically and economically stable with a flourishing European ex-pat community. The weather is warm and the scenery breath-taking. The government are keen to retain the unspoilt nature of the island and are working hard to ensure the biodiversity of the environment is not affected by the growing tourist industry. For these reasons, Belize is becoming one of the top countries of recent months to invest in.

The actual buying process

Preparation
Anyone is allowed to buy property in Belize making the buying process an easy one. Put 3 months aside for the transaction to be completed.

Viewing
Viewing the property in person is strongly recommended. A week-long trip is especially beneficial as you can not only check out the property itself, but also get a feel for the surrounding area and people.

Deposits
Once you decide to go ahead wih buying the property, you must submit an offer in writing. The offer is binding, and you must then place your deposit. Mortgages are available however you will not be able to buy a property without a deposit. Deposits are negoiable however most people will need at least a 10% deposit.

It is important that you have a legal representative with you so that they can submit the necessary forms to the Lands Registry so that the property is transferred into your name.

Taxes and fees
There will be taxes to be paid when you buy the property. For properties up to US$10,000, there is no transfer tax; for properties above this sum, there is 5% transfer tax.

Legal fees for title research and transfer are normally around US$500.
Stamp duty is 15% for foreigners; Bank approval is around US$50; Registration fee is around US$15; Sales tax is charged at 9%.

If you like to see a list of properties for sale in Belize, please click here
If you are looking to buy a book on buying property in Belize, we suggest one of the following two books:

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