Ecuador Real Estate: One of the Best Places in the World to Invest Right Now
Even if it’s just for a couple of weeks, a few months or even a year, investing in some Ecuador real estate will ensure that you have a ticket to paradise for when you need it most.
Let’s face it – we all dream of a tropical getaway. We want to get away from the things that make life north of the equator a little less glamorous: land-locked cities, the nine-to-five, and, if you’re really unlucky, several months a year of shoveling snow. Ecuador real estate is the new expat playground – it’s affordable, breathtaking, and it’s a good long-term investment. So grab your parasol and let’s take a stroll through some of the best reasons to invest in Ecuador real estate!
Reason #1: It is up-and-coming
Sure, every movie is set in Mexico and we’ve all dreamed of lying on the beach in Cancun. Problem is, it has been done to death. From being featured in movies to being overrun by zealous tourists, any place you’ve heard of is well-known for a reason: once upon a time someone discovered it and made it the new “it” spot. Then real estate prices soar. The lesson to be learned from this phenomenon is to purchase ahead of the curve: find the “undiscovered” and up-and-coming spots, and purchase before the fame and the large influx. That way you buy a property for a lower price, but as the place becomes more popular, values soar and you are guaranteed a return on your investment. Ecuador real estate is the prime example of this today, and you can be sure it won’t be long before prices climb. Find out the differences between living in Ecuador, Costa Rica and Mexico.
Reason #2: Quality of life
Ecuador has something for everyone. Whether you’re more of a jungle, mountain or beach person, you can take your pick and shape your ideal lifestyle that way. A few places have more of a party, expat vibe, while some don’t have a single foreigner as far as the eye can see! Some have more modern infrastructure, whereas some have a more rustic, back-to-basics feel. No matter the place, they are all blessed with the same Ecuadorian friendliness. Cuenca, a city popular among expats, is very artsy, community-oriented, and cheap, not to mention nestled among breathtaking mountains. If you’re more of a beach person, rumor has it that Manca will increasingly be the destination of choice for expats looking for the calm of the beach without having to also give up the bustle of the city and you can also check out Ecuador’s top 16 beaches. With beautiful infrastructure and reliable services, Manca could be the perfect place to begin a new chapter in your life.
Reason #3: The economic climate of Ecuador means property ownership is easy
Everyone is on equal footing when it comes to purchasing real estate in Ecuador. And by everyone, I mean anyone who sets foot there, not just the country’s citizens. This eliminates many potential complicating factors in the quest for real estate, because sellers aren’t biased against foreigners. Instead, the market would welcome you with open arms.
What’s more, the currency of Ecuador is the US dollar! Goodbye budgeting headaches. What a good way to ensure that your finances stay in order, and that you understand exactly what you’re getting into.
Ecuador experienced an oil boom in the last decade thanks to the completion of a pipeline to the coast that provides Ecuador with a strong and reliable economy. Labor is abundant, costs are low, and values keep climbing! What a perfect climate to snatch up some Ecuador real estate thanks to all of the equal opportunities given to foreigners. Find out more about the cost of living in Ecuador.
Reason #4: You’re one step closer to becoming a resident
There are many paths to becoming a resident of Ecuador, one of which lies in the acquisition of Ecuador real estate. And the benefits of becoming a resident are many: it becomes much easier to manage your finances and open a bank account with the bank of Ecuador, which non-residents cannot do; you can get tax benefits if you are a senior; you have the same rights as all the citizens of Ecuador; and finally you can stay forever! Find out more about retiring in Ecuador.
Now to get technical, the type of visa you can get is called an investor Visa 9-II, which proves you have invested in the economy of Ecuador either through property or through government bonds. All you need is a title of ownership!
Reason #5: If you decide to build, you can get creative
Ecuador doesn’t have the same rules around building that we do here in North America. So, if you’re an expat who wants to just buy an existing Ecuadorian house, this doesn’t really apply to you. But if you want to go the extra step and build your dream custom home or condo, this is where you can really go wild.
Always dreamed of a big veranda with pillars and maybe a fountain? Do you want overflowing gardens and a permanent jazz band on the front lawn? Do you not want a front lawn at all? Be creative because in Ecuador you can truly create the home you have always dreamed of and the building inspectors won’t be after you for every tiny thing. And what’s more, its unique character will drive the value up, offering handsome returns on your initial investment.
Take these reasons and run with them!
The investment climate in Ecuador can mean that you are setting yourself up for large returns, a comfortable lifestyle, and a wealth of knowledge to share with fellow expats. Adjusting to a new culture and language takes time, patience, and, above all else, a sense of humor. Luckily the lack of financial stress you’ll be feeling will make the transition to a new place feel that much easier, to say nothing of the sunsets you’ll be enjoying, the local food you’ll be sampling, and the new friends and connections you’ll be making.