Buying real estate in Belize is a choice taken by savvy investors and future retirees alike. Whether the plan is to buy something that you can live in once you retire or buy properties as investments, there are some excellent options available.
Belize is a beautiful country with so many magnificent and affordable locations. Here are six of the top spots to help you get started in your search.
1. Ambergris Caye
Without a doubt Ambergris Caye is one of the most sought-after locations in Belize. As the largest island in Belize, it has been ranked as one of the 20 best places to live. The beautiful beaches and abundant options for different kinds of water-based activities are major draws, including scuba diving the Belize Barrier Reef. There are great restaurants offering fine dining options as well as the best of local fare.
Ambergris Caye is commonly referred to as the “Isla Bonita” (the Beautiful Island) leaving little to wonder why it is one of the top choices for expats who were looking to relocate to Belize. It’s worth looking into buying a condo or other residence that you will eventually call home. In the meantime, you can rent out the property whenever you’re not going to be in the country.
2. Caye Caulker
Caye Caulker lies just south of Ambergris Caye island. There’s also a significant tourist trade to be found here. While there are many water sports available, Caye Caulker is becoming better known for its nightlife. This makes it a popular location for the younger crowd.
It, too, is located near the Belize Barrier Reef and provides ample options for enjoying water activities. The beautiful beaches combined with the laid-back pace and charm of the area make it ideal for many people to call home.
Peace and tranquility is what attracts tourists and new residents to Placencia. One of the unspoken rules around this area is that going slow is perfectly acceptable. At times, it may almost seem to be mandatory. With 16 miles of picturesque beaches, relaxing comes easy.
In terms of choosing to live in Placencia, you’ll find the cost of property to be reasonable. At the same time, you can expect the property to continue appreciating in value. Thanks to the overall robust housing market in Belize, purchasing now rather than later is in your best interests. Anyone who wants to escape the hectic pace found in other places will definitely feel welcome here.
4. Punta Gorda
Punta Gorda, generally referred to as PG, is home to a diverse community and is located near the southern-most point of Belize. Being situated near the Bay of Honduras, people who choose to live here have access to all sorts of fun-in-the sun activities.
Like many areas of Belize, the pace of life here is also relaxed. You’ll find excellent pricing on residential properties as well as competitive rental rates for apartments. If your primary goal is to find a place that’s pleasant and affordable, PG is a place to consider.
5. Corozal Town
Corozal Town is located off the Rio Hondo, which forms the border between Belize and Mexico. Situated in Northern Belize, Corozal is less touristy and is also a Belizean city popular with expats. Part of this might be attributed to its proximity to Chetumal, Mexico which offers a plethora of shopping options and nightlife.
Many of the residential areas found in and around Corozal are gated. Two popular communities are Cerros Sands and Consejo. You’ll find a nice mix of condos, larger and more traditional homes, and even some contemporary home designs. Enjoy the Maya ruins, great shopping, or simply relax on the beautiful beaches along the Corozal Bay.
6. Cayo District
While the Cayo District may not offer the beaches of many other locations discussed here, the lush rainforests, Mayan sites, and other natural attractions deliver a different sort of beauty. Cayo borders Guatemala and encompasses several towns, including the capital, Belmopan. This means if you need something, you are centrally located to the place where you will more than likely find it.
Heading inland to buy real estate often means you will pay lower prices. Cayo includes towns and eco-centric community developments that are popular spots for real estate investors and retirees alike. Basic living expenses as well as the cost for custom-built homes is often less in Cayo than many waterfront locations throughout the country.
What is Your Goal in Buying Belize Real Estate?
When evaluating the potential of buying real estate in any area of Belize, do consider what you hope to achieve. If the plan is to focus primarily on owning rental properties that attract long-term tenants, some areas will be more desirable than others. If the idea is to buy something that you will rent out now but eventually live in once you retire, other areas will be better.
Be sure to inquire about added fees such as homeowner’s association charges (yes, even Belize has HOA fees) that might be required in your location of interest.
There are so many wonderful and beautiful areas in Belize to consider when it comes to buying real estate. There’s no better way to narrow down your choices than by doing your research and then visiting each town to see what it has to offer. Talk to the locals and expats living there to find out about any pros and cons of the locations. With the right due diligence and financing, you can find the perfect spot in Belize to call home.
I hope you enjoyed reading: 6 Top Places to Buy Real Estate in Belize. Here are some additional articles about Belize.
Luigi Wewege is the Senior Vice President, and Head of Private Banking of Belize based Caye International Bank, a FinTech School Instructor and the published author of The Digital Banking Revolution – now in its third edition. You can follow his posts on trends shaping the banking and financial services industry on Twitter: @luigiwewege
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