This email contains vitally important info to know about new real estate laws in Ecuador as well as, some amazing deals on the Ecuadorian coastline. We recently just finished providing two free sessions for expats here in Ecuador; one regarding the new “Cap Gains” law and the state of the Ecuadorian real estate market, and another regarding how to price and negotiate property effectively when buying in Ecuador. Feel free to contact us to help learn more about these subjects.
Ecuador Expat Realty is proud to be the most trusted agency on the Ecuadorean coast. We are family owned, family operated and fully licensed since 2011. Additionally, we are the ONLY flat-fee based agency in Ecuador. As a married combination of US expat and Ecuadorian local, we are uniquely capable of understanding your expectations as an expat while also providing you with the insider access for prices typically only reserved for locals.
Additionally, because we aren’t driven by commissions on any specific property, we can focus on making sure your interests are protected and will present you more than just properties we represent personally. . Our wide network of partners, industry contacts and onboard legal staff will ensure you have a smooth, protected and secure future with your investment in Ecuador.
NEW YEAR, NEW LAWS
Cap Gains & The “Plusvalia” law
In an effort to stifle real estate speculation and those looking to quick-flip real estate in the market, Ecuador recently passed what is being called the “Cap Gains” law by expats, or as it’s locally known, “Ley de Plusvalia”. While hearing “Cap Gains” and “Tax” in the same sentence tends to bring pause to most, the reality is the law is likely to have little effect to both existing or new expats investing in Ecuador and in fact, likely produce a positive result in the market overall by serving its intended purpose of curbing speculation. Some key points to note are that the new law is applicable only to the second sale of any property, takes effect as of 2017 and is not retroactive, and its future existence is somewhat gray with respect to the oncoming political elections in February.
If you would like to learn more about the law and how to best approach purchasing in Ecuador, feel free to contact us. We are more than happy to simply assist in answering questions.
Tourist Visa Requirements Change
Some major changes are coming to the tourist visa options and residency travel requirements for expats living in Ecuador. Whereas prior, 90 day visas were the norm and left most expats scrambling to achieve a 180 day visa extension, the future is bright with 180 day tourist visas being an initial option for moving forward. This means, less hassle with the initial moving and integration process and less concerns about violating your visa requirements. It will be especially valuable for those expats who aren’t living in Ecuador full-time or trying to achieve permanent residency since it means staying the year in-country simply using tourist visas and extensions becomes a little bit more possible. For those who do achieve permanent residency, the big announcement is you can now travel up to 6 months outside the country during your first two years vs. the prior limit of only 90 days. Please note: As of this writing, the law is still waiting to be officially enacted and as such, it is recommended to review with either an attorney or residency specialist prior to travel.
Fully Furnished, 3 Bed/4 full bath, 3 story Beachfront Community Villa
Villa 03, in Delfin Villas is only one row back from being directly on the beach and allows it’s residents to fall asleep to the sound of the waves at night. It is advantageously located directly across from the pool and has some of the most amazing rooftop panoramic views for sunsets and even whale watching right from the balcony. (Whale season just started). Villa 03 is fully furnished and ready to move in with A/Cs throughout the house, washer/dryer, flat screen tvs and fully connected digital cable and internet.
All Villas Include:
– 180 degree ocean panorama view from all floors
– 360 degree rooftop views
– 2,400 sq. ft homes
– 40G pre-heated electric water heaters
– Fully pressurized water system
– Tempered glass bathrooms
– walk-in closets
– Dual clam dish sinks and oversized tubs
– 3 bedroom, 4 full bathrooms
– Granite countertops with peninsula bar counters
– Porcelain tiling
– Generator connection built-in
– Pre-wired for digital cable and internet in all rooms
– Master bedroom walk-in closets
– City water connections
– Subterranean connections
– Rooftop panoramic decks
AMAZING BEACHFRONT PRICE
This is a gorgeous beachfront lot in the boca area of Puerto Cayo. It is 1,147 square meters or (12,300 feet squared approx). It has approx 77 feet of beachfront land and includes city water and electric connections. At $52 per/mt2, I honestly don’t know of a better deal on beachfront land in a residential area. This area of Cayo is removed from the main town and is within walking distance of the Sanctuary Hotel and the Alebrije restaurant. This land has a clean title and taxes are paid up to date.
Lot price: $58,900
Size: 1,147 mt2 (12,300 ft2)
Lot measurements: 23.5 mt x 54 mt
This is an amazing opportunity to own one of the largest beachfront spans in Puerto Cayo at below market value. This property has a spectacular 330 ft beachfront and measures another 330 ft to its rear, making it perfect for either the ultimate hacienda type living or potentially more valuable as an investment property.
The property is nestled amidst the shade of pine and palms trees, has its own water source as well as city water access and has a existing home on-site. Additonally, the home is off the main road which means near to zero traffic, leaving you with just the sound of waves.
Oceanview Lot in Puerto Cayo – 1,200 meters (13K Sq. Ft approx)
This is a fantastic ocean view lot that sits only 200 meters away from the beach and has an outstanding panoramic view of the ocean. It sits high enough up to ensure you’ll never lose that ocean view. This is the sort of property that will leave you watching the whales migrate across the horizon every year.
The property is situated in an area that is growing quickly with expats and becoming a small expat enclave meaning you have welcoming neighbors nearby. We personally live only a couple hundred meters from this property this property and can vouch for the value of the location. You are walking distance to town but not so close that the holiday bands will bother you.
The property additionally has a public access path on one side that will take you directly down to the beach.
This property has access to city water and electric. Taxes are paid up to date and the deed is in order. Plus, $0 closing costs.
At $50 per/meter, this is not going to last long.
45,000 ft2 – Beachfront Lot in Puerto Cayo, Manabi – MAJOR PRICE REDUCTION!
As beachfront lots go, they ain’t making more of it and what’s left is disappearing fast! Not to mention, prices just keep going up on the beach with no mercy sometimes. So, finding this piece of property that is both beachfront but also that offers a mixed-use type of opportunity seemed especially intriguing to us. It’s 4,180 meters (43,000 Square Feet) of beachfront gold. To start, it has 132 feet on the beach. It’s perfectly positioned on a quaint beach road just off the main city road and just north of the nicest hotel in the area (Sanctuary Hotel Puerto Cayo). It has city water and city electric. This makes this property usable as a hotel location, a single home on a massive lot or even better, a single home with the option to sell part of the property in the future. The price is right and the options are many on this one-of-a-kind find. In discussing with the owners, this property was originally planned for a 7 villa development but those plans changed when they purchased a larger property and decided to expand. That means this property is being sold at near the purchase price and becomes the sort of opportunity you don’t see often and that doesn’t last very long.
Our approach to this property would be to either split it into two properties and sell one at a markup immediately and then either build and sell the other or build to live in personally. Alternatively, we think the villa development route is extremely attractive and could be a very comfortable nest egg to live off of a very powerful rental market into the future. We have seen the plans for the original development idea and even had a chance to discuss numbers. What we came away with was no better recommendation than “buy this, buy this now!”.
Why we are different?
In short, our business isn’t about getting the highest sales price.
The ususal process of purchasing property is almost always going to involve you being referred a property by an agent or other party that is more interested in the commission they are going to be paid if the property sells.
This means that their incentive is automatically designed to sell you the highest price possible on the property as well as only recommend to you the properties that they represent. YOUR best interests ARE NOT THEIR PRIORITY and they definitely aren’t trying to get you the best deal.
WE WORK FOR YOU, the buyer! – We will review all listings available on the market and help you to narrow down what are your best opportunities. We will then help you negotiate a fair price and assist in making sure you are fully protected all the way to the end of the purchase process and final registration. All of this is done for a flat-fee of $499 USD. This way, it’s clean, straight forward and designed to serve your best interests.
First, some of the amazing offers currently on the coast…