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3 private islands in Belize just hit the market - and at less than $530,000 a piece, they each cost less than the typical home in NYC and Honolulu. Here's what the money will buy you.
3 private islands in Belize just hit the market - and at less than $530,000 a piece, they each cost less than the typical home in NYC and Honolulu. Here's what the money will buy you.
Libertina BrandtAug 8, 2019, 01:23 IST
7th Heaven Properties
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Three private islands are currently for sale in Belize for under $530,000 each.
The cheapest island is listed at $350,000, while the most expensive island is listed at $525,000, according to the listing website 7th Heaven Properties.
The attractive prices are due to both the location and size of each island, Robert Cooper, director of 7th Heaven Properties, told Business Insider.
For those outside-of-the-box homebuyers looking to invest in an affordable private island, you're in luck.
Three private islands in Belize are currently on the market for less than $530,000 each. It's a price point that's cheaper than the median home value in some of America's major markets, including New York City, Los Angeles, and Honolulu.
They are located off the Caribbean coast of Southern Belize and are either undeveloped or contain a few structures that need repairs, according to Robert Cooper, the director of 7th Heaven Properties.
Cooper also told Business Insider that the attractive price points are due to three main factors: the islands are small in comparison to other private islands and have minimal to no developments on them; there are around 200 private islands or cayes off the Carribean coast of Belize, so there are quite a few private islands for sale; and Belize's real-estate market is less developed, especially in comparison to other countries that also have large pools of tropical islands, like the Bahamas.
Keep reading for a closer look at the three private islands.
Belize is located in Central America and hugs the western edge of the Caribbean Sea. It sits under the US and Mexico and is around just two hours from Houston, Texas by plane.
As for the three, smaller private islands, the affordability of their price tags comes down to three key factors. The islands' small size is working in their favor, price-wise, as is the large number of private islands for sale in Belize.
Thirdly, Belize's real-estate market is less developed, especially in comparison to other countries that also have large pools of tropical islands, like the Bahamas.
To put the three price tags into perspective, they are all more affordable than the typical home in New York City, which has a median value of $674,100 ...
