Part Three: Property Prices.

Despite a steady 20 year appreciation in real estate prices in Belize, property remains attractively priced especially when comparing prices for similar real estate on sale in America or Western Europe.

There are still bargains plentifully available in this beautiful Central American country. But it isnt so much what you know as who you know when it comes to getting the best deal for your money.

There is a commonly held sentiment among the expat community in Belize something along the lines of the second house you buy or rent is twice as large as the first and costs half as much so dont part with any money until you are totally sure you know what youre doing!

Be prepared to spend time in Belize and be prepared to invest time in getting to know and making friends with the local people, any influential lawyers and business people and also the local expat community. It is through these people that you will find the best real estate at the best prices.

Another point worth considering is that Belize is a country where there are two prices the local price and the foreigner price. Yes, from an expats point of view this is unfair. But from a locals point of view the rich foreigner who gets paid far more for his work in his country than a Belizean in Belize for the same work can simply afford to pay the higher price.

A way around this is to ask a Belizean friend to ask the price and do negotiating for you! Simple!

And yes, negotiation is key - property prices vary massively from region to region and city to city and vendor to vendor. There isnt really a set valuation structure on which someone can base the price of a property or piece of land.

This means that it is hard to say exactly how much real estate is worth and how much property prices have actually risen over the last few years. It is harder still to say what a property investor in Belize could expect year on year in terms of the appreciation of any real estate asset. So much so that the saying you almost always make your money when you buy, not when you sell goes doubly in Belize.

As a very general guide to property prices they are highest in Belize City, on Ambergris Caye and in Placencia, and lowest in the remotest most rural areas.

House prices go from USD 15,000 for a basic traditional home in a small undeveloped village to USD 500,000 and upwards for luxury beach front villas in San Pedro say.

Any agent or vendor you speak to is likely to talk up the potential returns on an investment in property or land in Belize this is only natural! But what you need to consider is that: -

a) the economy of this country is linked to the US economy and b) the time it takes to sell a property in Belize can be very long and drawn out (Im talking years not weeks or months) which is something you must bear in mind when considering purchasing a property you may one day want/need to re-sell

This shouldnt necessarily put you off after all you can still buy far more for your dollar in Belize than you can in the US, UK, Mediterranean region or Western Europe but it is important to have a realistic overview of the property market in any country you are considering investing in or relocating to. That way you enter with your eyes wide openits always better to be a savvy buyer!

Part Four: Foreign Ownership.

The Belize authorities are open to foreign investment and actually welcome it which means they impose very few restrictions when it comes to foreign ownership of immovable property in their country.