How to buy a house in Belize: real estate expert explains the best deals
Belize real-estate agent Chris Brown explains how to buy the most affordable house in the country.
The Belize Real Estate Board of Directors says that, since 2014, it has registered 5,933 new condominiums and 6,814 houses for sale, and that more than 2,000 properties have been sold.
But the real estate industry is booming, and the average price for a single-family home in Belmopan has increased from about $1.2 million in the same time frame in 2015 to about $2.6 million last year, according to the board.
Brown has seen a lot of people who are new to Belize buy a home and make lots of money.
“I’ve had a lot, actually, because they’re buying for a couple of reasons, which is that they want to get a house that they can afford,” Brown said.
“They want to move away from the beach in Belmar to a nice, nice place that they have a place to live.
They don’t want to live in the capital because they don’t know what they want.”
And they’re not alone.
About 1.3 million people bought homes in Belmaco last year.
So Brown said he’s seeing lots of people looking for a place where they can buy their first home.
“There’s a lot more people who want to buy first, who have a home of their own, and they want it for a certain price,” he said.
“They’re buying a house they can put up for rent, or they want a place for them to go and relax and have a little bit of a holiday in, like, a little holiday.
And I think people are buying a little more than the previous year because they want that option, and there’s no other way to find it.”
Brown said the market is booming for Belmopans first homes, because there are a lot fewer condos and houses available.
“Belmopans condos are now almost a third lower than they were five years ago, and I’ve seen them go up over five years,” Brown added.
“That’s a very good sign, I think, that people are getting a bit more used to it.”