Why Consider Buying Beachfront in Ecuador?
May 15, 2013
Well, for goodness sake, why not?! Okay, so maybe Ecuador isn’t on your radar for possible vacation or retirement homes… it’s also possible that you didn’t even know that Ecuador is or could be a vacation or retirement destination! Enter Where International… we’ll give you 9 good reasons why you should consider purchasing on Ecuador’s Pacific coast:
1. Affordability: And we don’t mean affordable in a way that you can justify because it’s good value… it’s actually extremely cheap to buy property in Ecuador. Lots right on the beach for under $50,000 and turnkey condos for under $100,000.
2. Incredible People: Most people go to the beach to relax, unwind and play in the sand and surf. But in some places you end up constantly being accosted by people trying to sell you stuff you don’t want. You won’t find this on Ecuador’s beaches. The people are friendly, helpful and hardworking (they let you come to them to buy their wares). They are extremely welcoming to foreigners and will welcome you into their country with open arms.
3. The US Dollar: That’s right. Ecuador’s official currency is the American Dollar. Granted, US currency goes up and down like a yoyo, but it does make for easy financial transactions when you’re buying and selling property. And if the Dollar really tanks, at least you have a little piece of paradise that you can escape to!
4. Development: Ecuador has been in ‘hiding’ as far as development goes… but that’s changing, and fast. Along the Pacific coast you can see signs of development for expats from around the globe. Gated communities with quaint bungalows, low and high rise condos and palatial homes are scattered along the coast and inland as well. With such natural beauty and incredibly affordable property, it’s not hard to see why this boom is so obviously happening. And to top it off, Ecuador’s government is onboard for the growth, and moving forward, has made tourism a priority.
5. Convenience: With one of two International airports located in Guayaquil, you can be sinking your toes into the warm sand of Ecuador’s Pacific coast within hours of landing! There’s nothing special about flying to Ecuador… it’s not complicated or convoluted, a four hour flight from Miami will get you to this beautiful country. Then, when you arrive, you’ll enjoy driving on a new (and expanding) coastal highway.
6. A Stable Economy: Ecuador avoided the real estate debacle that most of the world experienced. The banks were not handing out easy mortgages or loads and pre-construction speculation was low. Although many well-known coastal locations are suffering real estate lows, Ecuador’s property still carries excellent value when compared side-by-side.
7. Natural Paradise: Ecuador’s beaches are among the most beautiful in the world. Depending on what area of the coast you’re on, the climate and vegetation changes – the south is arid and dry, while the north is more lush.
8. It’s Tropical: Everyone dreams of one day retiring to a beachfront villa, enjoying the fresh ocean breeze from their deck. At one time, Florida, Mexico and locations throughout the Caribbean were ‘undiscovered’ too… and look at them now! It’s difficult for the ‘regular Joe’ to imagine buying a retirement or second home in one of those locales though... This is where Ecuador fits in nicely - with property still available for only $500 an acre; it’s almost an actual ‘steal’!
9. Natural Resources: With oil being the largest contributor to Ecuador’s economy, there’s a continuous, stable supply of income. This leaves more money available to invest in the country’s infrastructure and to develop other areas of income, such as tourism. There is definitely no lack of controversy about removing oil from certain areas of Ecuador, but the government is trying to combat this by continuously working towards the prevention of unnecessary pollution created by extracting the oil. However, there’s something to be said about investing in a country that’s rich with oil money as opposed to a country based in debt, leveraged finance and living off newly printed currency… sound familiar?
In addition, Ecuador’s government does a stellar job of putting the money back into the country’s infrastructure… new highways (both coastal and inland), a new airport in Quito, new bridges and a new planned port in Manta to help increase International trade.
Ecuador is definitely a hidden paradise for those looking for affordable property or a coastal vacation/retirement home. That being said, with all of the listed attributes we’ve spoke of today, it’s hard to believe it could stay this way for too much longer!
Want to visit Ecuador and experience for yourself? Take advantage of a Discovery Weekend, and for only $299 you’ll have an opportunity to explore the coast, dip your toes in the refreshing Pacific waters and see if it meets your criteria for a destination!