Why is real estate in Ecuador such a great investment these days? It’s quite simple. Prices are low. Labor is cheap. Values are high. With fewer building restrictions, you are free to let your creative juices flow and fully express your artistic side.
The economy in Ecuador is rapidly moving forward and now is the time to reap the benefits of that growth. A perfect window of opportunity is here for those who can see it happening and are willing to take advantage of it. Real estate laws and international real estate investment in Ecuador have seldom been more favorable.
There are many North Americans—and you may be one of them--who have a comfortable nest egg gained from previous investments but are not sure where to put it in the volatile economic, political and investment climate existing in the U.S. today. A tidal wave of people are wanting to leave the U. S. and head for higher economic ground in Ecuador.
What makes perfect sense to us is to move to a country with low living costs and good opportunities for investment. Real estate in Ecuador, for expats and for Ecuadorians, is booming. Many new homes, condos and townhouses are being built for the expat community in Cotacachi and surrounding areas. Foreigners are starting their own businesses and creating a rich new life for themselves.
Ecuadorians are building new houses and businesses all over the country as well. Extensive renovation and improvements are taking place in many cities, including Cotacachi.
Investing in real estate in Ecuador seemed like a no-brainer to Linda and me, so we purchased a penthouse condominium in Primavera II first and then bought a beautiful ten-acre piece of farm land with great views and abundant water. It’s our dream to create a small ecological and/or spiritual community of like-minded people, to grow our own organic food and practice sustainability and meditation.
Meanwhile raw land prices close to Cotacachi are on the rise. In some cases asking prices are in the $50-$100-per-square-meter range for smaller lots.
If you have a more pioneering spirit and enjoy country living, rural land is more reasonable. To find these gems, however, you have to do your homework, investigate carefully, and ideally work with someone who knows the ropes in order to purchase wisely and safely.
Ecuador is a developing country. The language and culture are likely very different from what you may be accustomed to in your own country. And the concept of time is very different here than in North America or Europe. That’s why it’s important to ask for assistance from experienced people and to maintain your sense of humor as you learn the ropes of living abroad.
We’ve been residents of Ecuador since November, 2006, and began selling real estate in Cotacachi soon after that. We've bought and sold our own property here and helped many others purchase houses, condos and land. In addition, we’ve conducted several real estate tours throughout Ecuador. We’ve learned from our personal experiences, sometimes the hard way, and by trial and error.
The international real estate investment climate in this small but incredibly diverse South American country can provide great returns, as well as open the door to an adventurous and exciting new life style. We love it. It’s not totally easy, but if it were, what fun would it be?
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