Buying an Island in Belize – The Ultimate Guide
We put together this guide for investors considering buying an island in Belize.
Whether you are thinking of buying one of the numerous small islands for sale in Belize as the ultimate off grid private retreat or one of the few large islands for sale in Belize as the site for an exclusive resort, this guide is designed to cover all aspects of acquiring an island from finding islands for sale in Belize through to the details of the purchase process.
Is Buying an Island in Belize a Good Idea?
How Much Does it Cost to Buy an Island in Belize?
Can Foreigners Own Islands in Belize?
Where are the Best Places to Buy an Island in Belize?
How Do you Buy an island in Belize?
Investment Opportunities – Explore Islands for Sale in Belize
Buying an island in Belize offers investors the opportunity to own a the ultimate private sanctuary in one of the world’s most sought after destinations.
For buyers looking for an island for personal usage, it’s pretty difficult to beat Belize. With 450 islands and cays located off the Caribbean coast of Belize, there are more islands for sale in Belize than in most other Caribbean and Central American destinations. Many of the islands are easily accessible from the mainland. Best of all, many feature flat land to build the home of your dreams, beautiful beaches which you could have all to yourself and are surrounded by crystal clear waters offering some of the best snorkeling, diving and fishing in the world.
For investors looking to buy an island with a view to operating it as a private island resort, diving destination or restaurant, Belize is also an optimal location. In recent years, tourism has been booming as Belize has firmly cemented its reputation as one of the hottest tropical destinations to discover.
Best of all, prices are relatively low in comparison to a more mature market such as The Bahamas, and, with the Belize real estate market enjoying significant growth during the last few years and due to the scarcity of islands, owners can also be expected to be able to benefit from capital appreciation over the medium term.
The cost of islands in Belize varies according to various factors such as location, size and perceived value based on factors such as ease of access and development potential.
In general prices compare very favorably to destinations such as The Bahamas which is a more mature market for private islands.
Prices range from approximately US £500,000 for a relatively small undeveloped island in the region of half an acre to 1 acre in size up to US $5 to $10 million dollars for substantial islands which are fully filled and already part of fully developed with existing buildings, structures, infrastructure and utilities.
Yes, foreign nationals can own an island in Belize and the Government of Belize welcomes foreign investment.
There are no restrictions on foreign buyers purchasing islands in Belize and foreign buyers enjoy the same rights as Belizean citizens.
Unlike in many other countries in the Caribbean and Central America, foreign buyers are not required to obtain any kind of license or permit in order to purchase property in Belize.
Buyers receive full fee simple title and enjoy outright ownership.
Belize’s 240-mile long eastern coast borders the beautiful Caribbean Sea.
Just off the coast lies the Belize Barrier Reef – the second-longest barrier reef system in the world – and 450 idyllic islands and cays dotted like jewels in the sparkling sea.
There are islands for sale throughout the coastal waters.
Where exactly are the best places to buy an island in Belize, really depends on your personal preference and whether you would prefer proximity to the north and the south.
There are islands available within easy reach of San Pedro and Ambergris Caye in the north, as well as islands on the market in close proximity to Belize City in central Belize as well as Placencia in southern Belize.
Really, the choice is yours.
Buying property in Belize is a relatively straight-forward process. Below we have outlined the typical process.
Once a buyer has found a property he/she wishes to purchase and an offer to purchase has been accepted by the seller, we would recommend that the buyer engage a reliable local attorney or closing company to ensure a smooth process.
A purchase agreement will be drawn up which must be signed by both the buyer and the seller.
The purchase agreement will outline the details of the transaction including the agreed price and payment terms. The buyer will typically be required to make payment of a 20% deposit to secure the property which will be held in the escrow account of the Belizean attorney.
The transaction is completed upon satisfactory completion of due diligence, title research, signing of all required documents in the presence of a Notary and payment by the buyer of the balance of the purchase price and all relevant taxes and fees.
For more detail on the purchase process, please see our guide to buying property in Belize.
Ready to begin your search for private islands for sale in Belize?
To find private islands for sale from across Belize, explore islands for sale in Belize on our website.
Please note that our website only showcases a sample of the private islands available.
Contact 7th Heaven Properties, the Luxury Caribbean Property Specialist, to explore the full range of investment opportunities in Belize.