Great Locations, Cheap Prices

Nice view, right? A 1 1/2-acre lot in this area costs but $83,000.

Although real estate prices are moving up in Ecuador, particularly on the coast, prices remain far below those in the hot spots of Mexico, Central America, and the Caribbean.

A major factor is Ecuador’s low building costs: new houses run $35 to $50 a square foot, while new luxury apartments are $55 to $65 a square foot.

Increasing prices notwithstanding, if you’re looking for property in Ecuador, take your time to find the right place. The most popular locations for North Americans and Europeans moving here are: Quito, Cuenca, the Pacific coast, and Guayaquil; but you’ll find plenty of other great locations worth checking out:

The valleys between Quito and Ibarra include some of Ecuador’s most breathtaking scenery, and attract a growing number of gringos. With a commanding view of the 15,000-foot extinct volcano, homes in the village of San Miguel in Cotacachi feature traditional Andean design and building techniques. Prices start around $70,000. For information, contact Santiago Guamani: sanmichaelhg@hotmail.com.

Thirty miles southwest of Cuenca, Yunguilla is in a large valley that stretches 60 miles to the ocean near Machala. With elevations ranging from 2,500 to 6,000 feet, the area features weather and scenery similar to the more popular (but more expensive) Vilcabamba. If you dream of setting up your own spiritual retreat or artists’ colony, you should take a look at a 25-acre hacienda near Santa Isabel. The 6,500-square-foot, eight-bedroom house has a swimming pool, and the property includes a two-bedroom guest cottage. Behind the main house is a charming chapel with seating for 70. Price: $320,000. For information, contact Kathy Gonzalez: Kathy@CuencaRealEstate.com. If you’re not looking for sprawling haciendas, other properties in Yunguilla start at $50,000.

Ecuador’s coast is popular, but 1,400 miles of a relative lack of development make it a daunting task to choose the spot that’s right for you. I like Salinas. Here, you can get a two-bedroom condo with ocean views for less than $90,000. And a 1 1/2 acre hilltop lot north of Montanita has views of the Pacific Ocean to the west and a rain forest mountain range to the east. Asking price: $83,000. Contact Mike Sager: redwulf3@juno.com.

But if you’re looking for city comforts, culture, and infrastructure, and one of South America’s best maintained colonial districts, you should consider Cuenca. A condo in one of the new midrise apartment buildings here (with underground parking) is a short walk to modern stores and the colonial district. Prices start at $45,000. If you’re thinking large, an 11,000-square foot, well-maintained colonial a few blocks from the city’s main square costs $315,000. For information contact Kathy Gonzalez: Kathy@CuencaRealEstate.com.

David Morrill
For International Living in Ecuador