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$1 Million Can Get You a Lot of Home in Belize

Low property taxes and close proximity to North America have made Belize a popular second-home destination

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Southern Ambergris Caye, Belize.

Karen Brodie / Getty Images
Southern Ambergris Caye, Belize.
Karen Brodie / Getty Images

In our fourth weekly Summer Buyer’s Guide, we consider Belize as your next summer-home investment. Sick of hearing about how soaring house prices in London, New York and other major cities mean that $1 million will only buy you a cramped studio apartment? Then perhaps it is time to start considering the Caribbean nation of Belize where $1 million will get you a lot more. According to a recent report by Sancas Realty, an affiliate of Christie’s International Real Estate in Belize, it might be the best-kept secret in the Caribbean real estate market where the average price for a luxury home in Belize is less than $1 million. In stark contrast, the average starting price across all markets is $2 million. Christopher Todd, a broker at Sancas, said: “Many international buyers are just beginning to discover the potential opportunities of investing in this tiny central American nation bordering the Caribbean Sea. Savvy buyers can find tremendous value in Belize, especially on the Placencia Peninsula in the Stann Creek District, and in the Cayo District to the west.” In particular, international buyers are attracted by Belize’s reasonably close proximity to North America, low property taxes and comparatively low cost of living. Major airlines have also added direct flights from hubs such as Los Angeles, Houston, and Panama City, Panama, making it more accessible. Who Is Buying in Belize? For all these reasons, Belize is starting to garner a lot of international interest, especially from Canada and the U.S., following in the footsteps of American film director Francis Ford Coppola, who has a trio of tiny luxury resorts in Belize - Turtle Inn, Blancaneaux Lodge and La Lancha. He purchased his first property there in the early 1980s, which he used as a holiday home for his family before turning it into a resort “It is amazing to see the number of Americans from places like Colorado, Minnesota, Texas, and Wisconsin who own property on Ambergris Caye. The reason is relatively simple; Belize is the only English speaking country in central America,” said Todd. “Language barriers can be a giant hurdle and the fact that these buyers can come to an amazing country in the heart of central America nestled on the western edge of the Caribbean Sea — and still speak their native language — is a huge plus.” He added that Guatemalan buyers are also on the rise, especially in Placencia Peninsula where many arrive on private yachts. Where to Buy San Pedro Town on the southern part of the island of Ambergris Caye off the coast of Belize has long been the most popular destination for international buyers, but there are also many opportunities in the north of the island in terms of land that could be turned into luxury beach homes. Belize has hundreds of islands, with lots of opportunities for developments. Hollywood’s elite certainly seem to agree. Alongside a business partner, Leonardo Di Caprio last year bought Blackadore Caye, an undeveloped island off the Northern coast of Belize, for $1.75 million. He told the New York Times that the country was “like heaven on earth” and plans to develop a multi-million dollar eco-conscious resort there, which will open to guests in 2018. According to Sotheby’s International Realty, Belize's private islands are in high demand with investors and developers as only a small percentage of the over 200 islands that dot Belize's coastline are currently developed. Elsewhere, there is the Placencia Peninsula in southern Belize, which has 16 miles of sandy beaches. Buyers are attracted by the plethora of activities here including kayaking, snorkeling, diving, saltwater fly fishing and shark watching. Todd said: “The great thing about Belize is that it really offers something for everyone. Belize is home to the second largest barrier reef in the world which offers exceptional scuba diving, snorkeling, and fishing. Contrarily, the inland jungle regions are home to a vast array of wildlife and archeological treasures.” What’s on the Market

Belize Sotheby's International Realty

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Price: $2.3 million

Bedroom: 4

Bathroom: 3 This spacious three-story four bedroom beachfront home in the upscale Plantation neighborhood on the Placencia Peninsula in Belize is just steps away from the ocean and has a uniquely designed 26,000 gallon pool with hot tub. View full listing

Belize Sotheby's International Realty

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Price: $1.9 million

Bedroom: 20

Bathroom: 19.5 If one house isn’t enough, why not buy a holiday resort? Nestled between the river and the rainforest is the eco-friendly jungle retreat Cotton Tree Lodge. It includes the 4,000 square feet main lodge, restaurant, a riverside bar and 11 fully-furnished guest Cabanas. View full listing

Belize Sotheby's International Realty

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Powered by Cincopa Video Hosting Platform for Business solution.New Gallery 2016/5/2originaldate 1/1/0001 6:00:00 AMwidth 1700height 1133originaldate 1/1/0001 6:00:00 AMwidth 1700height 1133originaldate 1/1/0001 6:00:00 AMwidth 1700height 1133

Price: $6 million

Bedroom: 8

Bathroom: 9 If that’s not enough then there is always the private island of North Saddle Caye, which has been fully developed with all the comforts and amenities of a luxury estate. While it is one of the only fully self-sustainable islands in Belize developed primarily as a private estate, it can easily be transformed into a resort. View full listing Summer Buyer's Guide Series:

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