Real Estate For Sale in Belize
Buying land in Belize is easy for everyone, locals and foreigners alike. Don’t be intimidated into thinking that prime beachfront properties with scenic views will be out of reach. The Belize real estate market is very flexible and has the right property to suite every desire and budget.
1. Who may purchase land in Belize?
Everyone. Unlike other countries in the region, Belize doesn’t have any purchasing restrictions and grants full land titles to locals and non-Belizeans alike.
2. How much do property taxes in Belize usually cost?
Properties are assessed by the Department of Natural Resources and property taxes are due on the April 1st of each year. Belize's property tax is considered to be one of the lowest of any of the Commonwealth countries. The amount paid for property tax in Belize depends entirely on the type of property and is usually between 1 - 1.5% of the assessed value.
In terms of Belize real estate taxes, property transfer taxes are at 5% while attorney fees (for conveying the property) usually amount to anywhere between 1 and 2%. It is customary for the buyer to pay around 6 - 7% for closing costs. All these taxes and fees are based on the total purchase price of the property.