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Five Reasons To Buy Belize Property
January 5, 2010Article by Ray Withers
Belize property made it big in 2007 and even into 2008 it was still a popular choice until a crunch became a crisis in the latter part of the year. Saying Belize became popular in 2007 is a bit of an understatement, and this happened at the height of an international property boom, when overseas holiday home buyers and investors were buying property on the four corners of the globe.
Now, buyers are returning, and 2010 looks like being a good year for the overseas property industry. Here are five reasons for the popularity of Belize property in 2007, which will be sure to make it a favourite in 2010.
Most of the benefits below come from the fact that Belize is part of the British Commonwealth, which will save this being repeated over and over.
1: Belize First Language is English
Because Belize is part of the British Commonwealth, this gives it a whole host of benefits, one of which is that English is the country’s official language. This means that all contracts are in English when buying Belize property.
2: Belize Property Market is derestricted and Purchases Safe
Again, because of Belize being part of the British Commonwealth, foreigners are extending almost the same property buying rights as Belizeans.
Belize property is a safe purchase because the land ownership regulations are much the same as you would find in Britain and other established markets. This means that deeds and ownership can easily be traced and verified before purchasing.
3: Finance is Available to Foreigners
One of the biggest drawbacks in many Latin American and other markets outside Europe and the States is the lack of options for foreigners to obtain financing and mortgages. This is not a problem in Belize and this is surely a large part of the reason for Belize property’s popularity.
4: Tourism is a Massive and Growing Market
Belize has some of the best and cleanest beaches in the world, as well as being protected from storms by the Yucatan Peninsula. The latter also gives it a mild or warm climate depending on the time of year. It also has the largest coral reef in the southern hemisphere and many Mayan Ruins — Mayan culture is becoming pop-culture at the moment because of their prediction that the world would end in 2012.
All the above makes Belize a massive hit with tourists from around the world, which means Belize property, especially in tourism hotspots offers some pretty impressive rental yields.
5: Protected Land
A large chunk of Belize, in fact most of the country is protected and/or part of one nature reserve or another. This will protect the country from over development and ensure solid capital appreciation on Belize properties.