Belize land is an "excellent tax-free investment opportunity" for buyers, according to independent consultant Crystal Investment and Real Estate.
Considered a ‘hidden gem', Belize is located on the North Eastern coast of Central America, bordered to the North by Mexico and to the East by the Caribbean Sea. Formerly the British colony known as British Honduras, the country offers a wealth of cultures and spoken languages although it is the only Central American country where English is the official language. Currently experiencing a rapid growth in tourism, there is significant demand for real estate particularly as expats are increasingly retiring to this Caribbean location to enjoy the ‘good life'.
With 22,960 square kilometres (8,860 square miles) of land and a population of only 312,698 inhabitants (2010 census), Belize possesses the lowest population density in Central America. However, the country's population growth rate of 3.15% (2012 estimate) is the second highest in the region and one of the highest in the western hemisphere. For tourists, the greatest attraction is the Belize Barrier Reef which is the second longest in the world and home to more than 100 different kinds of coral and over 500 species of fish. Inland, there are rainforests, national parks and wildlife sanctuaries which offer a safe haven for wildlife. For keen archaeologists, Belize is home to one of the world's most mysterious civilisations – the ancient Maya.
The Palms offers the opportunity to buy freehold real estate in a prime Caribbean location. Located on Serenity Road, there is a choice of lakefront plots or larger plots at the back of the community. Importantly, power lines are already in place and all land plots have direct year round road access.
Luke Smith, Managing Director of Crystal Investment and Real Estate comments: "As the most affordable Caribbean market, buying land at The Palms in Belize offers an excellent low cost, tax free investment opportunity. With a growing economy, an excellent off-shore banking system and local currency pegged to the US dollar, now is the time to invest in this increasingly popular Caribbean destination."
There are two clear options for buyers. The most common is to buy and hold the land until the value increases and it is re-sold. The land plots can be held for any period of time at The Palms and holding costs in Belize are currently around $10 per year, which compares very favourably compared to other investments.
Alternatively, buyers can take advantage of the low construction costs in Corozal to build a home on the land. Construction costs are currently around $50-60 per square foot therefore a 1,250 sq ft detached villa will cost approximately $75,000 to build. Demand for high quality newly constructed homes is increasing and it is estimated that the expat population will continue to grow, which will fuel this demand.Google+