The Compass Report

Belize Real Estate

One thing guaranteed with Belize, you are sure to find diversity and something that would cater to your individual needs and tastes. In Belize you can find tropical islands, citrus groves, beach front condominiums, Mayan ranches, Caribbean private islands, or eco-friendly, solar-powered rainforest rest houses. Whether for business or pleasure, or even for both, you can find a real estate for you.

Real estate in Belize is exponentially cheaper than that in the United States of America and Europe. And with a fraction of prices in these countries, at Belize, you can get a piece of property overlooking the beachfront. Island living or owning a ranch is no longer a dream in Belize.

Acquiring a real estate in Belize is a great investment. Appreciation of properties has remained strong and steady through the years, and resale value is always high. There are no capital taxes and inheritance taxes and the currency exchange rate is stable.

In purchasing real estate in Belize, you can rest assured that the area is free from racial discrimination and that crimes rates are very low. And with the tropical atmosphere, you can easily relax and relieve yourself of life's daily pressures. The political situation is very stable, and there are no sudden changes in laws since Belize is a very traditional country. Advanced infrastructures are set up throughout the country, providing you with state-of-the-art telecommunication systems and postal systems. The general population is fluent in English, so you do not have to readjust your lifestyle just to fit in the Belize community.

In Belize there is a good population of expatriates which makes assimilation much easier. In this country you can find Mennonites, Ketchki, Mopan Mayas, Garifuna, Creole, Chinese, Taiwanese, Indian, Middle Easterners, Guatemalan, Honduran, Italian, North American and British. Places like Ambergris Caye, Placencia, Corozol, and the Caye District are areas always attractive to expatriates.

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Leonardo Plans Eco-Friendly Island in Belize

Hollywood A-lister Leonardo DiCaprio has fallen in love with the idea of building an eco-resort on an island he owns off the coast of Belize…

Leonardo DiCaprio has undergone a serious image overhaul in the last few years, transforming from a Romeo & Juliet/Titanic pre-teen dream to a bearded environmental activist.

The actor used some of his movie millions to snap up his very own paradise island in Belize in 2005 for £1.15 million and is now planning to turn it into an eco-friendly resort.

Leo purchased the island from Emerald Futures, who described it as a ‘beautiful, pristine island,’ and its famous owner is keen to preserve that natural beauty in a green manner.

The staunch environmentalist has great green plans for the 104-acre Blackadore Caye island which is lined with white sand beaches and dotted with coconut palms and rocky outcrops.

It lies between mainland Belize and Ambergris Caye and is just a 25-minute boat ride from the Belize Barrier Reef, a World Heritage Site.

Leo plans to fund the luxury layout, which will include an 80-room hotel and a selection of condominiums and luxury villas, all with private pools and a green theme.

The very latest in innovative green technology will be used, including hybrid power systems and eco tours, which will respect the island’s wildlife and tropical surroundings.

The Blackadore Caye project will be managed by hotel giant Four Seasons and construction is scheduled to begin next year.

Leo wants the island to become a ‘landmark example of sustainable development.’
Buying in Belize

Leo is not alone in wanting to build or buy Belize property. Known as ‘Mother Nature’s best-kept secret,’ Belize has become increasingly popular with foreign buyers over the last few years, fuelling demand for homes to buy and rent.

Although Costa Rica and Panama get all the publicity, Belize is renowned as one of the easiest countries in Central America for overseas buyers to buy Belize properties.

There are no restrictions on non-citizens owning property, no capital gains taxes and low property taxes and the country uses English as the primary language.

In response to heightened demand, there are a number of new residential developments being constructed across the country.

Belize also boasts one of most liberal retirement programs in the region, the Retired Persons Incentive Program, which was introduced in 1999. Under the programme’s terms, foreign citizens older than 45 can import their possessions duty free and gain special residence status as long as they meet some basic requirements.

You better just Belize it

The economy is crumbling, but Christopher and Patricia Dodge believe in investing in land. They have an Ottawa townhouse and a Caribbean sanctuary.

You could say Christopher Dodge was smitten by the Caribbean Sea.

Over Thanksgiving weekend, the 34-year-old management consultant flew to Sanctuary Bay, an exotic eco-resort in the southern district of Belize, set down between the Caribbean, lush rain forests and the Myan mountains.

He was on a buying expedition, looking for investment opportunities in a recreational property. His wife, Patricia, and daughter, Nea, stayed in Ottawa, sharing turkey with his family because both thought the blitz would be too disruptive for their 22-month-old toddler.

The adventurous investor e-mailed pictures back daily, including those from a cruise on the Caribbean Sea. "There wasn't a single other boat in sight. It was me and the Caribbean Sea. It was just amazing," says Dodge, who describes himself as a "cautiously aggressive investor."

The boat trip and a flight in a small Cessna over the treetops of the rain forest sealed the $100,000 deal for the Ottawa native. He started investing in RRSPs at age 20, cashing them in for an airline ticket to chase his future wife back from Helsinki, Finland.

He intended to stay for two weeks and ended up staying five years, transferring from Carleton University to the Helsinki School of Economics and then earning a master of science in marketing from the Swedish School of Economics.

The two returned to Ottawa eight years ago, she landing a job overseeing the press office and cultural portfolio at the Finnish Embassy and he polishing his management skills.

The two socked money into RRSPs and in 2005 bought a new east-end townhome from Minto Developments.

"We will probably stay in this house for another 18 or 24 months and then move because we plan to have a second and maybe a third child," says Dodge, who is a careful financial planner, hoping to retire by his mid-40s or 50 at the latest.

Some family members say he takes financial gambles, but not before doing hefty research.

The current economic problems don't really worry Dodge, meaning he is keeping money in mutual funds.

Investing in real estate makes good sense to the consultant, who wants something a little more exciting than reading monthly statements on his

returns.

He looks at his $100,000 investment in a 1.37-acre piece of land in Sanctuary Bay as a "smart debt." The couple put 10 per cent down on the land, with plans to have the debt gone in a decade.

"It's going to appreciate because we are getting in early," says Dodge, who estimates they will pay about $350 a month for their chunk of sunny bliss.

"It's almost the same as our car payment on the 2005 Mazda 3.

"We try to be as debt-free as possible," says Dodge, who was attracted to southern Belize because it is tax-free and the government is actively recruiting foreign buyers.

It is also going to be an eco-community, with the biggest chunk, or 11,000 acres of the 14,000-acre-compound, set aside as a wildlife sanctuary that won't be developed.

Also, development in Belize is about 15 years behind the times compared with other warm countries, including Costa Rica, he says.

The first phase of Sanctuary Bay, 80 lots ranging from half an acre to three acres and from $100,000 to $300,000, is almost sold out, mainly to American and Canadian buyers looking for recreational homes far from the snow and slush of winter.

Construction of a marina is under way and homes are being built.

Within the next two to three years, the Dodges say they plan to build a modest guest home on their land, which is a 20-minute walk to the sea.

And then there are plans for an eco-friendly home.

"We want to do the snowbird thing, but start now and watch our investment grow. We don't want to wait," says Dodge, who is an avid environmentalist lured by the thought of trekking through the rain forest or snorkeling.

The Caribbean and Sanctuary Bay were uppermost in his thoughts earlier this week as he sat behind the wheel of his car during a snowstorm that snarled morning traffic.

Usually he takes a bus to his downtown job. He had a couple of errands and his 40-minute trip stretched to almost two hours.

"Belize is looking pretty good now," says the happy real estate investor.

Dodge, who says he is an Internet geek, will be writing a blog, starting in January, about his Belize property and construction plans.

Visit him at sanctuarybayblog.blogspot.com.

Belize

Belize sits at the crossroads of Latin America and the Caribbean culture, just south of Cancun on the Caribbean, bordered by Guatemala to the East, and two hours by air from Houston. With just 260,000 inhabitants and six distinct cultures in a country the size of Massachusetts, Belize is packed with opportunities for the short- or long-term visitor, namely: Mayan ruins, world-class diving, snorkeling, fishing, hiking, bird watching, kayaking and cave tubing, and just plain exploring. All of this can be experienced while taking in the eclectic and colorful flavors of Spanish-Caribbean culture and laid-back way of life in an accessible, tropical, English-speaking paradise.

A major draw of Belize is its variety of natural resources. In one tiny nation, visitors can experience tropical rainforests, the barrier reef, tropical islands, coastal marshes and mangroves, wildlife, tropical fruit, and marine life encompassed in the vast natural world of Belize. Today, due to slow and careful development, more than two-thirds of Belize is still covered by tropical forest.

Belize also boasts the longest barrier reef in the Western Hemisphere.  The reef along with the country's numerous offshore cayes, or atolls, have made Belize a highly sought out destination for scuba divers and snorkelers. They come to explore unique features like the famous 'Blue Hole', a collapsed submerged cave made famous by Jacques Cousteau, which is 1,000 feet wide and over 400 feet deep.

Archaeological treasures are another feature of Belize, which was once the site of thriving Mayan cities from around 1,000 BC until 900AD when these unique and mighty civilizations vanished.  There are believed to be thousands of Mayan ruins in Belize, of which about 600 have been discovered and excavated, many now open to tourists.

Tourism is a major component of Belize’s economy and visitors are welcome with open arms by warm, friendly people of multi-ethnic background.

Belize: Leonardo DiCaprio's private island

Eco advocate Leonardo DiCaprio has finally begun plans to develop the world’s first ‘Green’ island resort.  He purchased his private island of Blackadore Caye in Belize for $1.75 million in 2005. Local estate agent John Estephan brokered the deal with the Belize-registered property company Django Ltd.

DiCaprio fell in love with Belize on a 2004 trip to the Caribbean with his then girlfriend, Brazilian supermodel Gisele Bundchen. He was staying on the exclusive Cayo Espanto Resort owned by American Jeff Gram, a real estate developer from Atlanta. Di Caprio purchased the island in partnership with Gram, and the pair have partnered with the Four Seasons group to develop the island which will eventually become the Four Seasons Blackadore Caye.

DiCaprio is Hollywood's most committed environmental campaigner, he runs an eco-website alongside his fan site.  He co-wrote, co-produced and narrated the environmental documentary The 11th Hour concerning the environmental crises caused by human actions and their impact on the planet. He has received praise from environmental groups for deciding to fly on commercial flights instead of chartering private jets. He also drives a hybrid car and his house has solar panels.

The Four Seasons Blackadore Caye

DiCaprio and the Four Seasons plan to turn the 104 acre (42ha) tropical island situated off the coast of Belize into a five-star resort for wealthy conservation lovers. Blackadore Caye is a narrow island just over two miles long, whose white sand beaches are dotted with coconut palms and rocky outcrops. It lies just a 25-minute boat ride from the Belize Barrier Reef, the second largest in the world, and a World Heritage Site. The island’s length makes it one of the few island's off Belize's sparkling Caribbean coast with the 'length and integrity' to support the take-off and landing of private jets. This was one of the main reasons for choosing the island, as it offers extreme privacy for visiting celebrities.

The eighty room luxury hotel will feature condominium units, residential beach front villas and all the necessary 5 star amenities such as luxurious lobbies, a spa, bars, restaurants and swimming pools. Structures will be carefully integrated into the landscape so local wildlife and vegetation are disturbed to a minimum, and the island will be a test bed for innovative green technologies such as hybrid power systems. Several banks of solar panels will run down the airstrip which will provide power supplemented by wind power and bio-diesel. Development costs could run to more than US$30 million. The resort would be the first internationally flagged beach resort in Belize.

The island will also set aside a portion of the island as a exclusive estate, with a few exclusive villas, all with private pools and terraces as well as direct access to the beach. There are rumors that offers to purchase these private villas have already come from other Hollywood stars and celebrities, such as Robert DeNiro and Tiger Woods.

Construction is scheduled to start on Blackadore Caye sometime this year, and master-planning for the development has been tasked to the dashing Vegas hotelier and entrepreneur Andrew Sasson, founder and owner of The Light Group based in Las Vegas.

Light Group has become one of Las Vegas' great success stories. His clubs at MGM Mirage properties on the Strip (The Bank Nightclub and Caramel Lounge and Bar at Bellagio, Jet Nightclub and Bare Pool Lounge at The Mirage and Mist Lounge at Treasure Island) are among the hottest hot spots in Sin City.

Sasson is also the creative visionary of The Harmon Hotel being constructed at CityCenter, MGM MIRAGE's $8.4 billion “city-within-a-city.” Set to open in November 2009, this luxury boutique hotel - a prestigious member of The Leading Hotels of the World - will redefine exclusive living on The Strip by bringing high-design, privacy, and supreme services and amenities to its sophisticated and affluent residents and guests.

On June 1, 2008 Zabeel Investments of Dubai which is controlled by Dubai's crown prince, Sheikh Mohammed bin Rashid al Maktoum bought a 50% stake in the company. Working in conjunction with Zabeel, Sasson is in the midst of expanding his reach beyond Las Vegas and bringing his vision to a global audience. Looking toward the future of his soon-to-be international brand, Sasson's innovative and bold ideas have positioned him to be one of the biggest power players in the hospitality industry.

Why Belize?

Many Americans have been attracted to Belize for vacationing and purchasing off-shore real estate for many years, with good reason.  Belize is a Central American country rich with tropical scenery, archeological treasures and colorful culture.  The laid back tempo and lack of tourist hordes gives this tiny country an adventurous and “undiscovered” feel.  Real estate developers have begun to offer beachside casitas, tropical villas in this tiny Central American enclave. 
And here are some reasons why buyers are choosing Belize:

•    Its size.  Belize is a small, uncongested country with 270,000 inhabitants.  In fact, Belize just takes two hours to travel across by car and has just a few stoplights in the whole country!

•    No barriers to foreign investment. Called British Honduras until 1981, Belize is currently a member of the British Commonwealth and is also the only English-speaking country in Central America.  Their legal system is based on British law and is the only English speaking country in Central America.   There are no capital gains or inheritance taxes, and the private offshore banking sector is growing.  The Belizean dollar is pegged to the US dollar at a 2-to-1 ratio.   

•    Unique culture:  Belize features and eclectic mix of Spanish, Mestizo, Creole and Garifuna cultures which gives it an Afro-Caribbean vibe that is unlike the rest of Central America.

•    Marine paradise:  Belize’s crystal clear turquoise Caribbean waters contain the longest barrier reef in the Western Hemisphere.  The famous Blue Hole dive site is 1,000-foot underwater cave made famous by Jacques Cousteau which now draws divers from all over the world.  The coastal region also features hundreds of palm-fringed islands (called Cayes) which provide spectacular swimming, diving and snorkeling. Some of the popular destinations are Caye Caulker, Ambergis Caye, Lighthouse Reef and Glovers Reef

•    Tropical paradise:  Inland Belize offers tropical, hilly terrain along with rivers, mangroves and inland lagoons.  Some interesting ecotourism options have sprouted within the interior regions of Belize including cave tubing and jungle trekking where one can watch for monkeys, toucans and butterflies.

•    Mayan wonders:  Belize is located in the Mayan heartland. The Mayan ruins of Caracol, Xunatunich, and Altun Ha can easily be explored.  The Actun Tunichal Muknal cave feature the ancient remains of a 1000-year-old Mayan women and ancient pottery, stone tools and skulls left undisturbed for a thousand years.  

•    Location: Belize is also surprisingly accessible, just a two-hour flight from Houston.  And the country is nestled between some of the region’s greatest attractions.  It’s located to the south of Mexico’s Mayan Riviera, home to Cancun and the lower-key Playa del Carmen, both noted tourist destinations, and just to the east of Guatemala’s ancient Mayan ruins of Tikal, one of the Seven Wonders of the World. 

Belize - A Caribbean Vacation Paradise

An adventurer's paradise, Belize is a peaceful, English-speaking country just two hours away from 3 major U.S. Gateways. With a diversity of adventure opportunities unmatched by any other country, the Belizean people have protected over 40% of the country as parks and natural reserves.

Belize is on the Caribbean coast, nestled between Mexico and Guatemala and offers an intriguing mix of tropical forests rich with wildlife, majestic mountains, mysterious Maya temples, and diving and fishing experiences beyond comparison. In a single day, one can go from tropical forest to the longest barrier reef in the Western Hemisphere.

Belize, previously known as British Honduras, lies on the East coast of Central America in the heart of the Caribbean Basin, bordering on Mexico to the North, Guatemala to the West and South, and flanked by the Caribbean Sea to the East.

Belizean History

As the northern most country in Central America and known as British Honduras until 1973, Belize gained independence from British rule in 1981 and began promoting the country's natural beauty, wildlife sanctuaries, ocean wonderments and Mayan heritage to visitors and tourists worldwide.

At first glance you might liken Belize to Cancun or Grand Cayman with it's white sandy beaches caressing the crystal clear waters of the Caribbean Sea. But Belize has so much more to offer. In Belize, you not only get the beaches, the underwater diving and snorkeling in crystal clear turquoise waters teaming with aquatic life and great resorts; but you also get jungle, magnificent waterfalls, exotic wildlife, Maya ruins, the tropical sounds of toucans, parrots and 500+ other species of birds found in the jungles of Belize and the opportunity to experience what some call the Garden of Eden.

Even The Ancient Maya Knew The Value of Belize - 3000 Years Ago!  The Maya are one of the most advanced, ancient civilizations of the New World known today - dating back over 3000 years. During their reign in Central America, the Maya constructed huge stone cities and temples that are still a mystery to present day scientists - how did they build these enormous stone structures, make unprecedented astronomical observations and mathematically discover infinity?

For centuries, Belize remained at the heart of this ancient civilization which left behind hundreds of stone structures, cities and temples as testament to their long reigning existence. With a reported 600 Maya archaeological sites, many open to the public, you can now step back in time and marvel at their advanced culture through the vast collections of pottery, statues, carvings and structures available in the many Maya ruins throughout Belize.

Renowned Scuba Diving Vacation Spot for Divers Worldwide
As a result of the 185 mile long coral reef, the waters off Belize are teaming with exotic fish.

Quoted from a Washington Post article about Belize, Washington Post staff writer K.C. Summers explains. "I've swum the waters of half a dozen Caribbean islands, but never before have I seen such a vast array of marine life in one place. Rainbow parrotfish and yellowtail snappers, blue-spotted damsels and striped sergeantmajors, four-foot nurse sharks and playful stingrays. I feel like an extra in a Discovery Channel special. In Belize, you're speechless a lot. Get used to it."