Do you have US$530,000 to buy your own Caribbean private island in Belize?

If you are one of those homebuyers who thinks outside the box and is looking to invest in an affordable private island, you are in luck.

Three private islands in Belize – the Central American nation bordered by Mexico and Guatemala – are now on the market for less than US$530,000 each. That is cheaper than the median value of homes in some of the United States’ major markets, including New York, Los Angeles and Honolulu.

The three islands vary in price, from US$350,000 to US$525,000, according to the property listing website, 7th Heaven Properties.

They are located off the Caribbean coast of southern Belize and are either undeveloped or contain a few structures that need repairs, says Robert Cooper, director of 7th Heaven Properties.

Cooper said the attractive prices are because of three main factors: the islands are smaller than other private islands and have only minimal or no development on them; there are about 200 private islands or “cayes” off the country’s Caribbean coast, so there are quite a few private islands for sale; and Belize’s property market is less developed than those of countries such as the Bahamas.

Check out the three private islands in Belize that are for sale.

The nation, which lies on the western edge of the Caribbean Sea, is about two hours’ flight from Houston, Texas.

The largest and most expensive of the islands covers an area of 1½ acres (0.6 hectares) and is located off the coast of Dangriga Town in the south of the country.

The 65,340-square-foot (6,070-square-metre) island is for sale for US$525,000 …

… and is only four miles from the Belize Barrier Reef.