Ecuador Living

Old Quito real estate is much sought after. It’s not to everybody’s taste because it really is city living. This is no quaint, restored tourist trap; colonial Quito is a thriving mini city within a larger metropolitan area.

Although Old Quito real estate is not the bargain it once was there are still plenty of properties for sale and many waiting to be converted to homes or modern businesses. Such as this former hotel which was for sale recently.

Old Quito real estate - Hotel with six balcony exterior facade

Gary Scott and others such as International Living have been writing about the Old Quito real estate opportunity for as long as they have known about it. There were accounts of 10,000 square feet properties selling for $60,000 and the like. That situation has changed for the time being.

Who knows if those bargain basement prices will return. Ecuador real estate is often used by the Ecuadorians as a bank because during the economic crisis in 2000 several banks went bust. This is fine but when there is a need for liquidity it is not as easy to re-mortgage in Ecuador as in North America or Europe.

The real estate in Old Quito is varied but in a series of upcoming articles I will explain what is happening now in this rapidly developing sector of Quito. For example we’ll see what effect moving the central bus terminal will have on this area. We’ll see if the city gives grants and to who they are available and we’ll find out which are the next areas of old Quito real estate that will benefit.

Old Quito Real Estate Background

Colonial Quito real estate - The million dollar kiss

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