Ecuador is a country with mighty mountain ranges, tropical rainforests, mirror-smooth crater lakes and smoking volcanoes. It’s got hundreds of miles of unspoiled Pacific beaches, vibrant colonial towns and a culturally-rich capital city.
It’s a hit with retirees but it’s also popular with young surfers. It’s a low-cost destination for travelers and one where expats can afford to live the good life…
The real estate market is driven by locals…and Ecuadorians living overseas in places like Spain and North America. They often invest in Ecuador, buying a second home or future retirement home. There are foreign buyers, but they’re a tiny percentage of the overall market. That’s one reason why real estate prices have stayed low here, unlike many countries in the region where prices rocketed after a surge of foreign buyers piled into the market.
Residency
One benefit of buying a home in Ecuador is that a relatively low investment can get you a residence visa…so you can stay in country as long as you like. Currently, if you invest at least $42,500 in real estate, you’ll qualify for Ecuador’s investor visa.
Homes Prices
Property prices are still affordable in many parts of Ecuador. So, if you’re dreaming of a home in the coffee-growing highlands…a getaway in hummingbird-filled cloud forests…or a beach condo steps to the sand…I have some to get you started with your search…
|
|
There are towns where cobbled streets radiate out from the tiny central plaza…a volcanic peak provides a dramatic backdrop. There are local spots where you can get lunch for a few bucks. Or, you can splurge on the award-winning La Mirage where guests include visiting royalty. Ibarra, a large town close by, has big-box stores and large supermarkets. The town of Otovalo, 20 minutes away, has one of the biggest markets in Ecuador, selling everything from textiles to spices.
Here’s some enticing examples of how far your money can go…
For example, here is some pricing for some real estate in the country.
- $89,400: This three-bed, 2.5-bath condo in Cotacachi is currently on the market. In a gated development, it has a fully fitted kitchen, a dining room and living room, and a home office, all in 1,915 square feet of living space. It also has a private yard and an outdoor kitchen and barbecue area.
- $48,000: A spacious one-bed one-bath apartment with a large outside terrace. The terrace has lovely mountain views. The apartment is being sold furninished.
- $89,000: With views of the mountains, this three-bed, two-bath home as just over 2,000 square feet of living space. There is also a kitchen, living room, a dining room. There are wood beam ceilings and tile floors throughout and this home also has a large roof terrace.
On Ecuador’s Pacific coast, the town of Salinas has long been a magnet for well-heeled Ecuadorians at vacation time. In the school summer holidays, families move into their second home in Salinas and activity in town kicks up a notch.
They’ve been joined in recent years by North Americans, looking for an affordable beach destination.
Salinas has a nice malecon (boardwalk) and two beaches. One beach is lively, close to restaurants, cafes and bars. The other is a wide, quiet sweep of sand, popular with families. These beaches get busy at weekends and vacations. But a short drive outside the city you’ll find long stretches of unspoiled beach and secluded coves without the crowds.
|
|
Salinas isn’t a vacation spot that becomes a ghost town out of season. Its year-round population, taking in neighboring areas like La Libertad, is around 200,000. It’s got plenty of restaurants, cafes and ice cream parlors. It’s got a buzzing nightlife with bars, clubs and live music joints. It’s a hot spot for sport fishing and sailing with two yacht clubs. Plus, you’ll find supermarkets, clinics, hardware stores, banks, beauty salons, a huge produce and seafood market and a movie theater.
This is what you can buy in Salinas…
- $98,000: A two-bed, two-bath condo a short walk to the beach. There’s also a large open-plan kitchen/living area that opens out to a patio. It has air conditioning and comes fully furnished.
- $89,000: In the Chipipe area of Salinas, is this two-bed, two-bath condowith views of the city. It comes fully furnished and has just over 1,000 square feet of living space.
These are just a few examples of how far your money can go in Ecuador.
