Archive for November, 2007

Belize Real Estate Could Be in Your Retirement Future

Wednesday, November 21st, 2007

The U.S. National Association of Realtors® (NAR) is over 1.2 million strong in membership. When an association that size opens a strategic relationship with another organization, it’s worthy of note. NAR did just that when they announced in November 2007 that they were initiating a joint reciprocal relationship with the Belize National Association of Realtors® in recognition of the growth of the Belize real estate industry.

NAR is recognizing the growth of the real estate market in Belize, and there are a number of reasons for it:

English as a native language – Belize has adopted English as their native language. The country is a former British Colony known as British Honduras.

Foreign citizen tax breaks – retirees in Belize can apply for special status that provides tax breaks on retirement income and import of household items and furnishings. This bodes well for investment in Belize real estate.

An expanding economy – the gross domestic product of Belize has grown for the last 30 or so years, with agriculture, services and manufacturing at the core.

As one can readily see, Belize is poised for more growth if the baby boomer generation recognizes the quality of life available for retirees. And it’s not crowded either! Belize has the lowest population density in the Central American Region, and one of the lowest in the world. There’s room for you in Belize.

Belize is a parliamentary democracy and a member of the Commonwealth of Nations. The government is divided into 6 districts and 31 constituencies. Belize is located between two rivers, and the Belize River flows through the middle of the country. With a Caribbean coastline, the Belize Barrier Reef and the Maya Mountains, there is certainly a diversity of terrain and outdoor recreation. A large area of savannas and wetlands provides a great biodiversity, both marine and terrestrial. With the longest living barrier reef in the western hemisphere, Belize attracts divers from all around the world.

Sugar, bananas and citrus production comprise the largest segment of the agricultural activities. Recent discoveries of petroleum deposits bring exciting new possibilities to the manufacturing and mining segments of the economy. The government is spending millions to better the standard of living of their poorer residents. The Belize real estate market is gaining steam.

An interesting facet of Belize is the cultural and ethnic diversity. There is almost no friction between the harmoniously blended cultures and races. Belize has Mennonites, Chinese, Mayan, Spanish, Lebanese, East Indian and other ethnicities. They all get along, and there is great religious tolerance. There are Christians and Roman Catholics. Taoism, Buddhism, and Hinduism exist with Jehovah’s Witnesses.

It is readily apparent that the government, culture, economy and geography all combine to make Belize a highly desirable place to live. With the boomer generation searching for interesting retirement locales that are economically advantageous, Belize is positioned for significant growth. Make it your next vacation spot and you just might find the perfect Belize real estate for your retirement!

Contributed by Jim Kimmons, a Taos real estate broker and writer.