Life's A Beach In Belize:
Ecotourism and oceanfront main attractions
Nestled in the Caribbean, Belize's barrier reef, the second-largest in the world, and Mayan ruins are drawing tourists and property buyers. A growing eco-tourism sector and an English-speaking populace add to the attraction.
The country was previously known as British Honduras until 1973. It gained independence in 1981, after more than a century as a British colony, but it remains part of the Commonwealth and English its official language. Two-thirds of the country is covered in lush forests and the 386-kilometre coastline is guarded by a barrier reef. With a population just under 300,000, Belize is a small nation. However, it is emerging as a forerunner for investment in Central America. Belize was named "the best long-range investment site in the Caribbean" by Caribbean Dateline Magazine.
Best-kept secrets Belize has strived to develop its eco-tourism market. Its jungles and reefs are home to a diverse array of flora and fauna, including endangered species such as the manatee and jaguar. Tourism is now the second-biggest industry in the country, accounting for 18% of GDP.
Who's who? Belize has a young and growing population as its birth rate is among the highest in the world. Its most notorious resident is Shyne, a Belizean-American rapper who is part of P. Diddy's entourage. Francis Ford Coppola, after visiting the country filming Apocalypse Now, bought two resorts there. Actor Tim Roth got married in Belize, and Leonardo DiCaprio owns a $3.5-million island off the coast.
What's the property market like? The upsurge in tourist numbers has meant that property prices in Belize are rising steadily, but real estate is still affordable. Local experts estimate increases of about 15% annually and as much as 30% along the coast. Like Panama and Costa Rica, Belize is also targeting the North American retirement market with special incentives. It is trying to establish itself as a tax shelter, as there are no capital-gains or inheritance taxes and property taxes are very low, at 1% of market value.
Useful contacts:
Embassy in Guatemala (handles Belize): tel 502-2363-4348 / gtmla@international.gc.ca
Belize Consular Representatives in Calgary: tel 403-215-6072 / bdhillon@mainst.biz
Amandala Online: www.amandala.com.bz
AREBB (Association of Real Estate Brokers of Belize): www.arebb.com