Written By: Jacquelyn Annete García Vadnais
Investing in real estate in both Central America and the Caribbean has been popular for many years. The reason for this is due to the ease of access from the US, as well as the affordability, natural beauty, and high quality of life that is offered in Central America and the Caribbean. One area that has become very appealing for investment is Belmopan, Belize. If you are considering investing in real estate in Belmopan, please review the information below:
History of Belize
Belize has a fascinating and diverse history. Belize was previously populated by the Mayan Civilization which was at its peak from 250-900 A.D. The Mayan civilization was vast, and spread through much of Central America, however the region now known as Belize is widely considered to be one of the most historical, and sophisticated centers of the Mayan Civilization. Despite this fact, when Columbus sailed to the Caribbean in 1503, he did not discover Belize. Instead it was Gonzalo Guerrero, captured by the Maya in 1511 who first encountered this civilization. Belize became a colony in 1638 and served as a hiding place for pirates from both Scotland and England. The population continued to grow with disbanded British soldiers and sailors. During the next 150 years Belize had a struggle between both Spanish and British claims. In 1763 the Treaty of Paris gave British settlers the right to engage in the logwood industry, which entirely changed the economy of Belize. Belize became British Honduras in 1871 as a formal colony. Belize obtained its independence in 1981.
Modern day Belmopan is the purpose built capital of Belize. It boasts developed infrastructure, wide, ordered streets, ample urban parklands, churches, a mosque, and a vibrant central market. It is also a major transport hub and has a wide array of restaurants. It is centrally located for caving excursions, visits to national parks, and the scenic Hummingbird Highway.
Top Reasons to Invest in Real Estate in Belmopan, Belize
Consider these reasons when deciding whether investing in Belmopan, Belize is the right fit for your real estate investment portfolio:
Level of English
Belize has an incredible level of English since it was a former British colony. In fact, English is the main language spoken there. For this reason, individuals looking to invest in Belize will find banking and day-to-day life quite simple in Belize in comparison with other prospective real estate investment locales.
Secluded and Still Accessible to Major Cities
Belize is an excellent location to have property because it is still close to other major cities including Miami and Houston. Investors are able to travel freely in the region without major delays.
Low Cost of Living
Belize has a very low cost of living. What is ideal about Belize’s low cost of living is that it does not come with political instability. Belize is an affordable place to live that has excellent taxation benefits to foreign and domestic investors. Investors are also eligible for Belize’s retirement scheme, which provides further benefits to senior residents.
Clear Title of Land
Belize allows both foreign and domestic residents to have a clear title of land without a great deal of red tape. This is a major appeal of investing in Belize because the property is able to be owned by foreigners in a country with a stable government.
Political Stability
Belize has one of the most stable governments in Central America. What is unique about Belize is its cost of living is still low, yet it has stability. Belize has the ideal combination of factors, which is why many individuals are considering investing there.
Perfect Climate
Belize is appealing to investors because it has an ideal climate that makes Belize an escape from places that have Winter. Belize’s climate is something that is appealing to all investors considering owning property in Belize.
Growing Tourism Industry
Even though Belize gained its independence rather recently, it has a tourism industry that is flourishing. Previously, Belize had lower tourism rates than some of its neighbors in the Caribbean; however, now Belize is becoming a top destination. The unique local culture in Belize that is based on its Mayan, Spanish, and British roots is something special that tourists greatly enjoy. Tourism is expected to continue to increase in the coming years, which is ideal for investors that want to rent their property for an additional profit.
Property Value Increases
The property market in Belize has absolutely had a boom in the past five years. Previously, the market was centered in areas such as Ambergris Caye and Placencia; however, areas such as the rural Cayo District have also increased in value. Today, Belmopan is beginning to be a hot spot for real estate investment in Belize.
Rental Rates are Steadily Rising
The average rent for a one-bedroom apartment in the city center is $350 per month and the average rental for a three-bedroom apartment is $600 per month. Rents are 25 to 35% higher in the city center than the rural areas; however, these numbers will continue to shift as tourism and the local economy continues to expand.
Access to Incredible Beach Locales
Belize is on the Caribbean side of Central America, which means it has regular access to outdoor activities centered around Belize’s incredible oceans. Belize continues to grow in popularity since residents are able to swim, scuba dive, sail, and much more while residing there.
Final Remarks
Belmopan, Belize is a market to watch in the coming years. Even though Belize has not always been well-known for tourism, it is beginning to become a popular tourist destination. In addition, the passing of the retirement legislation has opened the door for more individuals to wanting to retire or reside there with ease. Due to Belize’s open-minded nature towards foreigners, the market will continue to boom because it is both comfortable and safe for foreign real estate investors to legally acquire property there. It is highly likely that Belize will continue to prosper as more tourism and real estate investment come to the country. Regardless of whether real estate investors are considering luxury properties or smaller apartments, there are many affordable options available in Belize that will absolutely increase in value in the coming years. It will be fascinating to see how Belmopan, Belize develops in the coming years since it has the ideal elements to be a very successful real estate market for both foreigners and locals alike.
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Jacquelyn Annete Garcia Vadnais is an Investment Consultant and field expert blogger for Barracuda Consulting.
Investing in real estate in both Central America and the Caribbean has been popular for many years. The reason for this is due to the ease of access from the US, as well as the affordability, natural beauty, and high quality of life that is offered in Central America and the Caribbean. One area that has become very appealing for investment is Belmopan, Belize. If you are considering investing in real estate in Belmopan, please review the information below:
History of Belize
Belize has a fascinating and diverse history. Belize was previously populated by the Mayan Civilization which was at its peak from 250-900 A.D. The Mayan civilization was vast, and spread through much of Central America, however the region now known as Belize is widely considered to be one of the most historical, and sophisticated centers of the Mayan Civilization. Despite this fact, when Columbus sailed to the Caribbean in 1503, he did not discover Belize. Instead it was Gonzalo Guerrero, captured by the Maya in 1511 who first encountered this civilization. Belize became a colony in 1638 and served as a hiding place for pirates from both Scotland and England. The population continued to grow with disbanded British soldiers and sailors. During the next 150 years Belize had a struggle between both Spanish and British claims. In 1763 the Treaty of Paris gave British settlers the right to engage in the logwood industry, which entirely changed the economy of Belize. Belize became British Honduras in 1871 as a formal colony. Belize obtained its independence in 1981.
Modern day Belmopan is the purpose built capital of Belize. It boasts developed infrastructure, wide, ordered streets, ample urban parklands, churches, a mosque, and a vibrant central market. It is also a major transport hub and has a wide array of restaurants. It is centrally located for caving excursions, visits to national parks, and the scenic Hummingbird Highway.
Top Reasons to Invest in Real Estate in Belmopan, Belize
Consider these reasons when deciding whether investing in Belmopan, Belize is the right fit for your real estate investment portfolio:
Level of English
Belize has an incredible level of English since it was a former British colony. In fact, English is the main language spoken there. For this reason, individuals looking to invest in Belize will find banking and day-to-day life quite simple in Belize in comparison with other prospective real estate investment locales.
Secluded and Still Accessible to Major Cities
Belize is an excellent location to have property because it is still close to other major cities including Miami and Houston. Investors are able to travel freely in the region without major delays.
Low Cost of Living
Belize has a very low cost of living. What is ideal about Belize’s low cost of living is that it does not come with political instability. Belize is an affordable place to live that has excellent taxation benefits to foreign and domestic investors. Investors are also eligible for Belize’s retirement scheme, which provides further benefits to senior residents.
Clear Title of Land
Belize allows both foreign and domestic residents to have a clear title of land without a great deal of red tape. This is a major appeal of investing in Belize because the property is able to be owned by foreigners in a country with a stable government.
Political Stability
Belize has one of the most stable governments in Central America. What is unique about Belize is its cost of living is still low, yet it has stability. Belize has the ideal combination of factors, which is why many individuals are considering investing there.
Perfect Climate
Belize is appealing to investors because it has an ideal climate that makes Belize an escape from places that have Winter. Belize’s climate is something that is appealing to all investors considering owning property in Belize.
Growing Tourism Industry
Even though Belize gained its independence rather recently, it has a tourism industry that is flourishing. Previously, Belize had lower tourism rates than some of its neighbors in the Caribbean; however, now Belize is becoming a top destination. The unique local culture in Belize that is based on its Mayan, Spanish, and British roots is something special that tourists greatly enjoy. Tourism is expected to continue to increase in the coming years, which is ideal for investors that want to rent their property for an additional profit.
Property Value Increases
The property market in Belize has absolutely had a boom in the past five years. Previously, the market was centered in areas such as Ambergris Caye and Placencia; however, areas such as the rural Cayo District have also increased in value. Today, Belmopan is beginning to be a hot spot for real estate investment in Belize.
Rental Rates are Steadily Rising
The average rent for a one-bedroom apartment in the city center is $350 per month and the average rental for a three-bedroom apartment is $600 per month. Rents are 25 to 35% higher in the city center than the rural areas; however, these numbers will continue to shift as tourism and the local economy continues to expand.
Access to Incredible Beach Locales
Belize is on the Caribbean side of Central America, which means it has regular access to outdoor activities centered around Belize’s incredible oceans. Belize continues to grow in popularity since residents are able to swim, scuba dive, sail, and much more while residing there.
Final Remarks
Belmopan, Belize is a market to watch in the coming years. Even though Belize has not always been well-known for tourism, it is beginning to become a popular tourist destination. In addition, the passing of the retirement legislation has opened the door for more individuals to wanting to retire or reside there with ease. Due to Belize’s open-minded nature towards foreigners, the market will continue to boom because it is both comfortable and safe for foreign real estate investors to legally acquire property there. It is highly likely that Belize will continue to prosper as more tourism and real estate investment come to the country. Regardless of whether real estate investors are considering luxury properties or smaller apartments, there are many affordable options available in Belize that will absolutely increase in value in the coming years. It will be fascinating to see how Belmopan, Belize develops in the coming years since it has the ideal elements to be a very successful real estate market for both foreigners and locals alike.
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Jacquelyn Annete Garcia Vadnais is an Investment Consultant and field expert blogger for Barracuda Consulting.
Jacquelyn has a JD/ MBA from Suffolk University, an LL.M in International Law from the University of Miami, and a B.A. from the George Washington University in International Affairs with a Concentration in International Politics. Jacquelyn speaks English, Spanish, French, and Portuguese and has lived in ten countries. Jacquelyn has done work for firms such as Boston Consulting Group and has worked with firms based in over ten countries in the fields of Real Estate, International Law, Expat Living, International Business, Forex Trading, and Travel. She has also volunteered her time and expertise at the Victims Rights Law Center based in Boston, MA.
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Please leave your comments below. If you would like to subscribe to our newsletter, click here: https://tinyletter.com/barracuda-consulting. To purchase a full real estate report, or to access a complete suite of investment advisory services please contact us: https://www.barracuda-consulting.net/contact.
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