Editor’s Note: This story originally appeared on Live and Invest Overseas.
Ambergris Caye is Belize’s number one tourist destination and it’s easy to understand why … Warm weather, friendly locals, beautiful beaches … Plus, it’s English-speaking and easy to get to from North America.
Running 25 miles north to south, and just two miles across at its widest point east-to-west, it is the largest and most populated island in Belize. As a result, demand for real estate—and prices—can be high. Still, if you’re after Caribbean living, it’s one of the most affordable options and property bargains can be found if you know where to look.
I see the market as four distinct sectors: South of Town, Town Core, North of the Bridge, and Secret Beach.
Prices for everything in Belize are quoted in Belize dollars except for real estate — it is always in U.S. dollars. There isn’t really “zoning” per se, so every part of town will have stores next to homes next to bars next to resorts.
South of Town
You will find a fair amount of vacant land if you wish to build your home. Existing housing runs from basic shelter up through custom mansions, but most single-family homes and condos are to North American standards and built in the last 20 years.
The majority of this area is on the grid for power and water. Expats tend to live closer to the reef south of town, although new homes are being built in an area called Tarpon Bay on the lagoon/leeward side of the island. If you have school-aged children, the majority of schools are south of town.
The paved road runs a little past the Mahogany Bay entrance, and after that, it is dirt, so it can be challenging to traverse in a golf cart (the typical mode of transport on the island) in rougher weather.
Town Core
This area has the oldest buildings and the highest density. Highly walkable, property here is mostly apartments and condos.
It also has the most restaurants and activities and thanks to its vibrant lifestyle it can be noisy here, especially during holidays and celebrations. It has the lowest population of expats, so if you crave a more authentic Belizean experience, Town Core is for you!
North of the Bridge
Yes, there is only one bridge! There is also a large amount of vacant land if you prefer to build your dream home. City water only extends about one mile north of the bridge. After that, you rely on rain catchment and, in the dry season, water delivery via tanker trucks.
Electrical service runs much further north, stopping between miles 14 and 15 north of Central Park. If you prefer condo living, they will mostly be on the ocean or on the road (also only one road north, until the island widens by the quarry).
Single-family homes range from small villas up to custom mansions again. The road is only paved up to about mile 3, so north of that, driving can be treacherous in inclement weather.
Secret Beach
This is the area for off-grid living. Roads here are not paved and are difficult to traverse in heavy rains. It has a hippie vibe.
The property purchasing process in Belize is similar to the U.S. in some ways. Contracts are in English, you provide an earnest deposit when your offer is accepted, and you can own property with the same rights as a Belizean citizen.
The biggest difference is that a mortgage is not available to a non-Belizean, meaning you will have to either pay in cash or via seller financing if offered.
Be advised, anyone can say they are a real estate agent in Belize. There is no licensing requirement or background check and large potential commissions can lure some unethical people into promoting themselves as an agent.
Research any person you intend to work with, even if they are under a real estate franchise you are familiar with. Have a real estate attorney handle your escrow and closing; they can apply for your land certificate (the Belizean version of title) with the Ministry of Land. There is an 8% stamp duty due on the sales price, less the first $10,000.
Long-term rentals are a little tough to find on Ambergris as not a lot of property managers have up-to-date websites, and many landlords have shifted to short-term rentals to increase revenue. It’s also rare to find a rental that allows pets.
Ensure that any place you are considering is registered with the Belize Tourism Board, at least until you have permanent residency. This is required for those on a tourist visa.
The most reliable method on Ambergris Caye to find a long-term rental is word of mouth. Book a short-term rental for a month or two, get out in town, talk with your server, other diners in a restaurant, or the people working at the gate to a community… they will know about available units. Facebook groups will occasionally have postings as well.
Prices will vary widely based on location and standards. For a cozy, one-bedroom apartment with basic appliances, air conditioning in the bedroom, and water included, expect to pay $1,400 to $1,700 per month on a one-year lease.
For a newer building with upscale finishes, air conditioning throughout, and private parking, expect a monthly rate of around $2,600 to $3,000 on a year lease, excluding utilities.
