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At Caribbean Property Development, we know how important it is to be well informed of any property before expressing an interest in it or consider placing an offer.  Therefore, we make it our mission to get the most background information as possible on all our property listings to ensure our buyers have all the necessary information to make the best decision for now and in the future.

What makes our agents different?

Our real estate agents take the time out to get to know our clients on a deeper level in order to truly understand their desires. We prefer to think of ourselves as partners for our clients on their purchasing journey rather than simply middle-man agents. This way, our clients can relate with us on a more personal level and let us know specifically how we can best help them.

What do you gain by working with Caribbean Property Development?

You get the property you WANT!

Yes, it may seem cheaper to try and go it alone but in almost all instances the easier route would be to get the help of a real estate professional. That’s why we’re here. Our agents will ensure all your must-haves are attained in your new property purchase. Whether it’s finding that family home on the beach in Placencia, your first apartment in Belize City or the perfect office space in Belmopan to launch your new business, Caribbean Property Development has the perfect Belize real estate options suit every buyer.

Fees Associated with Purchasing Property in Belize

  • Stamp Duty (Transfer Tax) – 5% of property value due at closing. The first $10,000 of the amount is exempted from this tax. So, if your property cost $50,000 you will only be charged on $40,000.
  • GST – Charged on first time sales or on newly renovated properties (with over 60% of property being renovated) only. 10% of property value.
  • Attorney Fees – Usually around 2% of purchase price
  • Property Taxes – 1.5% of the assigned value of the home which is paid annually
  • Speculation Tax – Charged on properties of 300 acres or more annually at a rate of 5% of the property value.

Property Registration System in Belize

  1. Registered Land Act System – An application of land tax is made and a new land certificate is issued to the purchaser. The property owner will hold a land title as proof of ownership.
  2. Conveyance System – Transfer of land by conveyance and registration. A title search is done to assure the seller actually owns the land.
  3. Torrens System – Involves a First Certificate of Title followed by Transfer Certificate of Title.

The system used when purchasing your property depends on where the property was originally registered. You will not be given a choice of which system you prefer. The Lands Department is working on unifying the system to register all properties under the Land Act System. This process is being done area-by-area so until that is completed for the entire country, all three systems will remain in place.

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