Cuenca Real Estate prices continue to rise

Dec. 11, 2010 - PRLog -- Cuenca Real Estate prices continue to rise. What is interesting, is that many Cuencano’s are not buying in Cuenca, but rather in North America!.

First, why are prices real estate prices in Cuenca going up? For those of you that read a variety of blogs aimed primarily at North American’s, you will read about how relatively low prices are still in Cuenca.

Is this true? Well… what are they relatively low compared to? It is important to first realize that prices in Cuenca are some of the highest in all of Ecuador. In fact, real estate prices in Cuenca are the highest of the major cities in Ecuador. So… relative to Quito and Guayaquil, prices are quite high.

The going rate advertised by the majority of online websites for new construction is between $75-85 dollars per square foot. On the ground here, you can of course find new construction for much less, if you’re willing to look… and not too hard. Without working too hard, we have found several builders who will build similar to North American standards for between $30-40 dollars per square foot. You do have to add the price of the land to that but depending on where you’d like to build… that doesn’t have to be a lot more! Of course, you can always spend more! If you decide you need very expensive granite, very expensive fixtures, etc… you get the picture… you can of course spend plenty! However, for nice granite and average fixtures… you’re in the 30-40 dollar per square foot range. Not too bad! Learn more at www.EcuadorGreenRealEstate.com

You will also hear what a great investment buying in Cuenca can be. Well… what are your expections for your investment? If you purchase a “gringo” condo for $120,000.00 and rent it for $400 per month (which is high by Ecuadorian standards), would that be considered a great investment? Cuencano’s apparently don’t necessarily think so. We know several well to do Cuencanos who have taken their $120,000.00 to Miami (Fl prices are extremely low due to the horrible economic turndown in the US), purchased a condo (for example), and renting that condo for $1000 per month… who is getting the better return on investment?

We know what you’re thinking… are we at EcuadorGreenRealEstate.com pro Cuenca real estate or not? Absolutely… YES! However, you need to know what you’re doing when you come here. Cuenca real estate can be “relatively” inexpensive compared to many cities in North America. It SHOULD be relatively inexpensive. Cuenca, Ecuador is a third world country! Beautiful as it is, living here is an entirely different experience.

There is a reason you are considering moving or investing in Cuenca real estate… and overall cost of living is probably among the reasons why. To make sure this is really the case, educate yourself, ask lots of questions of your realtors (yes, realtors… compare commission rates and fees), and look at plenty of property before making any decisions. Also, beware of what “some” North American’s will tell you about pricing. They paid too much for their condo or house, and for some reason, even though they now know differently, don’t want you getting a “better deal” than what they did. Hey, if you get a better deal, word might get around, and they are fearful their property values could drop!

We actually recommend spending plenty of time here before making a purchase here Cuenca. There are many areas that may appeal to you and if you are only here for a week or two… you won’t have anywhere near enough time to make a well informed decision.

As a buyer, you should not have any realtor fee’s attached to your purchase. Commissions are paid by the seller. Buyer side commissions paid by the buyer have become common practice amongst a small group of English speaking realtors who know how to “sell” you on the idea that paying them the money is worth it. It is important that you know that Ecuadorians never pay such fees and only uniformed or otherwise gullible foreigners pay them.

Again, Cuenca is a wonderful place to live, Cuenca real estate prices are relatively low, and we’re trying to make sure you know it so you don’t pay US pricing for your new house or condo.

If you desire to save 5-6% on your home purchase here in Cuenca, visit our site at www.ecuadorgreenrealestate.com or give us a call and we’ll show you how to purchase like Ecuadorians purchase!

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We are specialists in everything from Land Development, Real Estate Development, Custom Home and Apartment Building and Construction, Real Estate Marketing and Sales, we have lived in the U.K., the U.S., and South America. We have ALL experienced all the “gringo help” we can take, and desire to bring you honest and fair, Cuenca real estate services. With over 30 years of experience, we believe we bring the finest real estate services available in Cuenca.