I don’t really like to invest in anything where I don’t feel I have a true leg up on everyone else. That’s why I generally stay out of the stock market, many know more than I do in that. I assume you’re similar, at least a little, if you are subscribed to this list.
Knowing this, it would be remiss if I didn’t mention the following…
Many people ask me where on the coast still has a strong potential for appreciation. My answer, “several spots”.
But one of the top ones with this potential is Canoa, and the coastline area just north of Canoa.
Canoa is a small surf town just north of Bahia de Caraquez on the northern Ecuador coast. It is drop dead beautiful and absolutely one of the most pleasant places to live on the coast. The problem, up until now, and the reason people have stayed away, is it is rather inaccessible and out of the way. That’s changing.
Why right now?
On October 29 a new bridge will be inaugurated (the largest in Ecuador) connecting Bahia de Caraquez with the area just south of Canoa. Up until now you had to take a long, uncomfortable 30-45 min journey around a bay to get from one side to the other, now you will be able to get from one side to the other in less than a minute connecting Canoa with the world.
Additionally, new coastal roads up and down the coast are being completed at a record pace. Most of the southern coast has a brand new freshly paved coastal road, and the north is getting paved now in parts.
And, there is a new highway ready to be opened that will make the area the closest beaches to Quito, at just a few hours away.
The current administration really seems to understand that the key to investment and tourism is accessibility and they are investing many millions in it.
Now, the problem with Canoa is that it is small, and has already begun to be discovered by a few foreigners and the prices have gone from $5 USD a square meter to $60-90 for many lots. Even at those prices, it still my be a deal with these changes coming.
Literally, you can see from one side of the town to the other and there is a cliff, a coastal road, a small strip suitable for houses then the beach, that’s it.
The real deals can be found just north of Canoa heading towards Jama and Pedernales, and with this added accessibility, the time is now to check it out. Even local buyers will be more intrigued with this beautiful area of the coast now that they can get to it quick for a weekend getaway from Quito.
To get you started, I know of two guys who are selling lots in the area near Jama…to read the rest of this article please subscribe to my weekly newsletter below…