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Real Estate in Corozal, Belize | Expat Exchange
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Corozal, Belize

Real Estate in Corozal, Belize

By Betsy Burlingame

Last updated on Mar 01, 2024

Summary: The average cost of a nice 2 bedroom home in Corozal, Belize is around $150,000 USD, while a nice 3 bedroom home can cost around $200,000 USD. These properties typically include modern amenities such as air conditioning, stainless steel appliances, and granite countertops. There are no restrictions on foreign ownership for properties in Corozal. An expat should search for a home to buy in Corozal by looking at local real estate listings, talking to local real estate agents, and attending open houses. The most desirable neighborhoods in Corozal include Corozal Town, Consejo Shores, and Sarteneja.

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How do I find a place to live in Corozal?

We asked expats how they chose their neighborhood and found a place to live. They answered:

"Originally San Pedro, Ambergris Caye, but after 4 years it got over populated and prices went way up. Moved to the mainland Northern Belize were there is less rain and humidity and 15 minutes from Chetumal where you can get low cost everything," said one person in Corozal.

"One way to find a place to live in Corozal is to search online for rental listings. Websites such as Craigslist, Belize Real Estate, and Belize Property Center offer a variety of rental listings in Corozal. Additionally, you can contact local real estate agents in the area to inquire about available rental properties. Additionally, you can ask around in the community for recommendations from friends and family. Finally, you can also look for “For Rent” signs posted in the area," said one expat who made the move to Corozal.

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SJB-Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model. Our clients benefit from their country’s most favorable tax environment by utilizing the efficient investment vehicles we offer. Our commitment to quality service is reflected in our stellar reviews, with over 300 testimonials boasting 95% five-star ratings.
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What is a typical expat home or apartment like in Corozal?

"Expat homes and apartments in Corozal are typically spacious and airy, with large windows and balconies that offer stunning views of the Caribbean Sea. Many of the homes and apartments are equipped with modern amenities such as air conditioning, cable TV, and internet access. The homes and apartments are typically surrounded by lush tropical gardens and are within walking distance of the town's many restaurants, shops, and other attractions," remarked one member in Corozal.

SJB Global

SJB-Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model. Our clients benefit from their country’s most favorable tax environment by utilizing the efficient investment vehicles we offer. Our commitment to quality service is reflected in our stellar reviews, with over 300 testimonials boasting 95% five-star ratings.

Learn MoreConnect

Click connect to have our partner contact you via e-mail and/or phone.

SJB Global

SJB-Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model. Our clients benefit from their country’s most favorable tax environment by utilizing the efficient investment vehicles we offer. Our commitment to quality service is reflected in our stellar reviews, with over 300 testimonials boasting 95% five-star ratings.

Learn MoreConnect

Click connect to have our partner contact you via e-mail and/or phone.

What is the average cost of housing in Corozal?

If you are thinking about moving to Corozal, cost of living in probably a key consideration. Expats commented about the cost of housing:

"Housing cost is about 50% less if you are a owner builder. Avg for land and house is $80k US and the ROI after three years is about triple that," remarked one member in Corozal.

"The cost of housing in Corozal is generally quite affordable, with the average price for a two-bedroom home ranging from $50,000 to $100,000. Renting is also an option, with the average monthly rent for a two-bedroom apartment ranging from $400 to $600," explained one expat living in Corozal, Belize.

Should I buy or rent a home in Corozal?

If you have not spent a lot of time in Corozal, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:

"Buying a home in Corozal can be a great investment, as the area is known for its low cost of living and beautiful beaches. Renting a home in Corozal can also be a great option, as it allows you to experience the area without the long-term commitment of buying a home. Ultimately, the decision to buy or rent a home in Corozal should be based on your individual needs and preferences," said one person in Corozal.

What do I need to know when buying property in Corozal?

When we asked expats what advice they would give a foreigner before buying a property in Corozal, they said:

"Also be aware when buying a home, realtors can work for the buyer and seller so I don’t see in this case how they would chose which one to work for in their best interests. Also sellers are not legally obliged to tell you of any issues with the home so do a proper inspection before buying. Only the newer houses are built to American standards but of course they will cost more," explained one expat in Corozal.

"1. It is important to research the area and the local market before making a purchase. 2. Make sure to hire a qualified lawyer to review all documents and contracts related to the purchase. 3. Be aware of any restrictions or regulations that may apply to the property. 4. Consider the cost of living in the area and the availability of services and amenities. 5. Understand the tax implications of buying property in Belize. 6. Be aware of any potential risks associated with buying property in Corozal. 7. Make sure to inspect the property thoroughly before making a purchase," explained one person living in Corozal, Belize.

Are foreigners allowed to own property in Corozal?

When we asked expats what advice they would give a foreigner before buying a property in Corozal, they said...

"Yes, foreigners are allowed to own property in Corozal. The country has a relatively open policy when it comes to property ownership by non-citizens. Foreigners can purchase and hold land in Belize without any special permits or requirements. However, they may be subject to higher stamp duties and taxes compared to Belizean citizens. It is advisable for foreigners to consult with a local attorney or real estate agent to ensure they understand the process and any potential legal implications," said one foreigner living in Corozal, Belize.

What appliances are typically included in a rental?

We asked foreigners in Corozal what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:

"Rental properties in Corozal typically include a refrigerator, stove, oven, and microwave. Other common appliances include a washing machine, dryer, and air conditioning unit. Depending on the property, additional amenities such as a dishwasher, garbage disposal, and water heater may also be included," remarked one foreigner who made the move to Corozal.

Additional Information about Searching for a Home in Corozal:

We asked foreigners in Corozal what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included...

"Expats searching for homes in Corozal often start by browsing online real estate websites and local classifieds to get an idea of the housing market. They may also join expat forums and social media groups to gather recommendations and insights from fellow expats living in the area. Additionally, expats can reach out to local real estate agents who are familiar with the Corozal housing market and can help them find a suitable home. Visiting Corozal in person to explore neighborhoods and attend open houses is another useful strategy for finding the perfect home. Networking with locals and other expats can also lead to discovering available properties that may not be listed online," said one expat in Corozal.

About the Author

Betsy Burlingame Betsy Burlingame is the Founder and President of Expat Exchange and is one of the Founders of Digital Nomad Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange, Betsy worked at AT&T in International and Mass Market Marketing. She graduated from Ohio Wesleyan University with a BA in International Business and German.

Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.

Corozal, Belize

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