As a foreigner to buy a house in the Caribbean?

06.05.2011 09:47
Since the beginning of the global financial crisis accommodation in Belize cheaper by 25-30%. According to realtors, houses and apartments now on the Caribbean coast you can buy at low prices.

Number of property sales to foreigners are also significantly reduced. Only in early 2011 the market began to show signs of Belize recovery, reports The New York Times.

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On the largest island of Belize, Ambergris, which traditionally is the most expensive housing in a country cottage on the Caribbean coast today, you can buy for $ 500 thousand apartments in the region, according to realtors, will cost from $ 100 thousand to $ 250 thousand

"Before the crisis, buyers would not find an apartment overlooking the ocean, even at $ 150 thousand," - says a representative of the National Association of Realtors Belize Makarena Rose.

In the center of the country, especially in the Cayo District, the cost of detached houses start at $ 100 thousand "Besides lower prices, buying property at a distance from the coast also have another advantage - the buyers will not have to insure your home against hurricanes," - says an expert .

Legislation of Belize allows foreigners to buy real estate in the country without any restrictions. According Makareny Rose, payment transactions, usually in U.S. dollars.

Most realtors charge for their services from 2% to 5% of the purchase price. For example, pay a broker for mediation in the acquisition of an apartment is about $ 1,8 thousand Also buyer pays the stamp duty, which amounts to 5% of property value.

The annual cost of maintaining the house in Belize is about $ 400, and the cost of insurance by the hurricane can reach up to $ 5 thousand per year, adds an expert.

Content tags: Overseas property
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