Property in Belize worthy of Examination by Foreign Buyers

The influential Global Property Guide has just released its mid-2010 recommendations report of destinations it recommends for investment. Surprisingly the list of locations it has recommended in Latin America does not include Belize.

Belize is a former British colony, which gives it benefits such as English being its first language, a developed judicial and political infrastructure and a first rate and reliable health service. During the last boom, this background gave those buying property in Belize a sense of safety and security -- especially Brits, who also liked the fact that all contracts were in English.

When you add to that background the fact that property in Belize is currently 40-50% cheaper than it was in the middle of 2008 in the areas popular with foreigners, which is giving way to yields of 8-10% (yields the GPG itself say signal an investment opportunity), and it is difficult to see Belize not doing well now that foreign demand is rising.

International property investment consultancy Property Frontiers has stated its belief that property in Belize will see a strong increase in sales to British buyers particularly this winter. David Cox, director of the firm has been quoted as saying:

"Belize has a real chance of seeing some strong activity from British buyers this winter. Belize property prices in areas that are popular with foreigners have fallen by between 40 and 50% according to realtors on the ground. Thus, property in Belize is now among the cheapest in the growth hotspot of Latin America.

But the real strengths lie in the environment and value for money. In Belize you can currently buy a luxury 1 bedroom villa in a new boutique development within a tropical rainforest nature reserve setting for just £72,000. That price also buys you rental management and servicing as part of the eco-boutique hotel."

Cox then went on to explain the benefits coming from Belize being a former British colony, which are laid out above, before concluding: "things like that are going to prove very important with the new savvier wave of overseas property buyers."
It is true. If things like the developed judicial and political infrastructure were a hit with buyers before the crunch, they will almost certainly be a hit now that the crunch has awakened us all to just how badly wrong property markets can go.

Look at Dubai where many people lost thousands on developments that will never become a reality. The people who are currently buying and who will be buying for at least the next 5 years will likely be putting stability above potential returns, so the fact that property in Belize offers both definitely makes it worth examination for foreign property buyers.