The responses are in…
We asked how much you actually paid for property in the highlands area of Ecuador.
And you answered.
These aren’t asking prices, but actual recent values people opened their wallet and spent.
In a country like Ecuador with no MLS standardized system, nor publicly recorded comps (or comparable sales records) and with historically low and unrealistic municipal appraisals knowing how much people are actually paying can be very useful.
And thanks to all those who responded to this inquiry… below are the responses!
1. 24 hectares (60 acres mas o menos) en La Paz, a small rural town about half way between Cuenca & Loja. We were able to get it for 60k. It has a pristine biew of the valley, two narrow waterways that supply the water for the towns in the valley, Wild Blueberry treeas all over it & maybe 350ft of roadfront property on the main highway.
1. Malacatos, near Vilcabamba that I bought in May,2011 for $6.83 m2 that is 11,000m2.
2. bought a house in Vilcabamba for 165K in March 2013, land 3,500 sq m. construction 140 sq m, 3 bedrooms, 2 bathrooms , 2 years old, American standards. Sloping land, landscaped, excellent view.
1. Cuenca, South side on Rio Tomebamba. 2 floor penthouse condo with 2000 sf. Bought in Jan 2010 for $70K. Found it in the local paper. Condo is 7 yrs old.
2. Cuenca, 10 min (by taxi) from Plaza de Armas. $67,000. apartment, 2 bed/2 bath with (solar) heated water, washer/dryer hookups. one of the bedrooms is en-suite. apartment complex was built in 2011. apt. is 80 square meters, on the 2nd floor of a 4 story apt. complex.
3. on the Tomebamba River in Cuenca El Centro. $175000. Penthouse condo – brand new. 150 sq meters – includes 30 meters sq of terrace. October 1 2013
4. Lot 45 minutes from Cuenca, near Paute $40K gental hill side over looking Paute river. 4295 sq mtr, about 1 acre, January of this year. has power and water to it
5. 7 hectare (about 17 acres) finca near Guachapala (it’s halfway between Paute and Guachapala) earlier this spring (2013). It has a 3BR/1bath house (in pretty good shape), lovely rock outcroppings, small pine forest, 800 producing fruit trees of several varieties, large spring-fed pond stocked with tilapia, and the access is excellent. The asking price was $165k and they got it for $150k.
6. Cuenca – edificio fronting Rio Yanuncay $89,500. Apartment, built in 2010 , 116m2 + parking space & small storage area Bought Jan, 2011. 3 br, 2.5 ba.
7. Chordeleg – rural $160,000. Orchard, garden, House, empleada Constructed 20 years +/- Land = 5945m2 Main house = 180m2 2nd “house” 65m2 Bought May 2009
8. Cuenca. first floor three bedroom two and a half bath condo for 100,000.00 USD at the corner of Premier de Mayo and Avineda des Americas in Cuenca. The purchase was made last October and the unit is rented out at $875.00 per month
9. Cuenca. 3 blocks from Tomebamba river away from El Centro at Solano and Crespo $174000. 115 sq meter condo built in 2009 Bought October 2013.
Quito area and valleys
1. Centro area, one of the few condos facing Calle La Ronda near the Sur Arco.The purchase price was $38,000. The age of the complex is about 42 years old. The 3 bdrm unit itself is approximately 90sq. metros. The purchase date was in July of 2012.
.2 La Carolina/Quicentro area, across from the Mega Maxi on 6 de Decembre. This 12 floor penthouse suite (1 bdrm) is in a brand new complex. The purchase price was $85,000 and is about 50 sq. metros. The purchase date was May, 2013.
3. Quito, La Carolina $104 000 dollar US condominium under construction, delivery on April 2014. flat of 60 square meter + parking Bought April 2013
4. Checa: For $ 180.000, in Nov. 2011, I bought a 2 bedrm house, in a triplex, with a third of a wall attached. Gardens to be enamorred by, but at that stage, no Internet nor the promised swimming pool etc… Today, with some of the amenities better established, the same house sells for $230.000. The development will soon include a medical center, the covered and the open swimming pool, a mini-market, and high speed Internet, well as several other conveniences. By then, it will probably be worth closer to $250.000.
5. Cumbayá in Urbanización Meneses-Pallares near Colegio Menor. The property has 1,360 mts2 of land and the house has 760 mts2 of construction. It has some 17 years of being built. I sold it for $500K.
Ambato, Banos areas
-the actual purchase price – 125,000
-the type of property and age – RESIDENTIAL HOME /1994
-meters squared of land and construction – 300 / 344
-approx date of transaction 2006
2. BANOS three bedroom house in Banos ( near ambato) for $42,000. it sits on a large lot but had no wall around it. the house is brandnew but was not well made. white washed walls,no kitchen cupboards
Otavalo, Ibarra, Cotacachi, Atuntaqui areas (north of Quito)
1. Atuntaqui $31,000 . lot. 5,000m2. 6/2013 with irrigation water [4 blocks closer, property starts at 25 per meter to 50]
2. North and west of Cotacachi. $18,000. Raw land some primary forest 1 hectarias flat, 9 hectarias steep from river to Peaks of mountain, accross river from dirt, drivable road. No buildings, electric, or phone. We do have our own springs and reliable good quality water. slightly less than 10 hectarias. march of 2011
1. Between Tena and Archidona, Napo Province. $17,000 for 2.3 hectares of rural land, adjacent to a river (fertile). Cafe and cacao trees on 1 hectare, no construction. Bought February 2013.
To see more current transaction records in Ecuador please subscribe to my weekly Ecuador Insiders Newsletter below, you can unsubscribe at any time: