In about six months finding good value property from San Vicente to Pedernales will become harder. Let me explain why.
Here is Archie Swenson looking from San Vicente, Ecuador across the Chone Estuary to Bahia.
Is everyone… even the kids looking at real estate here? Not quite… but this area is heating up.
Readers have been sending me questions like one I received this week: Gary, Do you know anything about Ecuador’s coast, between
Pedernales and SanVicente? I know that it is going to be introduced at the upcoming event in Toronto, but I can’t afford to go at this time. Any advice on buying land in this area?
My reply was: This strip of Ecuador coast perhaps has the greatest long term potential on all of Ecuador’s coast because the Chone Estuary has always stopped traffic from Manta. Now the bridge crossing the Chone at Bahia is scheduled for completion in October this year.
We have been advising readers of the potential in this area for many years. In fact we took our first group to that area well over a decade ago. Due to the difficulty of getting a bus across the Chone, we have not conducted regular real estate tours to this area, but we have been writing and sending readers to this part of the coast on an individual basis.
Our latest mid coast real estate tour normally stops at Bahia and for the lack of time does not cross the Chone. However on our March 2010 tour the group wanted to go across the river and voted to do so. Several of the delegates are interested in a nice three bedroom house with an attached three bedroom rental apartment upstairs, plus a small den type outbuilding on a large fenced, well landscaped lot just a block from the beach… at $69,000 asking.
Here are more reasons why prices are likely to start rising in this area.
* Aerogal signed a deal with the municipio of San Vicente last month to introduce 737 service from Quito 4 times a week starting in October 2010. This will put Coco Beach Village less than 1 hour from the airport.
* The bridge from Bahia to San Vicente is being worked on 24 hours a day as the president said that it is the 2nd most important project in Ecuador for tourisum after the new airport in Quito.
Here is a shot of the bridge from Bahia… well over half way across the Chone now.
* The road from San Vicente to Pederanales is presently being widened to four lanes. A new highway from Quito to Pederanales is 45% complete. This highway will cut the travel time from Quito to Pedernales in half….to three and a half hours. This will make Pedernales the closest beach to Quito.
New highway under construction from San Vicente to Canoa.
* All of the road projects above are part of a master plan to connect Manta to Quito via a 4 lane highway.
Bahia view toward Canoa.
Panoramic Shot of Canoa.
Therein is a potential problem. I have been sending data to a lot of readers about this area for many years… so…. this is not an undiscovered paradise.
There are good buys and great value yes… but there are some sharks waiting to sell at over inflated prices also… so as always use common sense.
The advice for buying in the areas of San Vicente to Canoa to Jama to Pedernales is the same as for buying real estate anywhere…
#1: Get an independent attorney who can help you.
#2: Look for good value and people who have been in the area long term.
#3: Remember that the key is location… location… location and marketing.
Also be sure to match your timing expectations to your budget and needs for cash from profits. Many new projects are starting north of Bahia. Supply is likely to get ahead of demand for awhile. Be careful, if you buy land to resell you do not overestimate how soon you can sell.
We have been discussing tours with well established brokers who have been involved with real estate in this area for years and will organize tours in the area after the bridge is complete. We have worked with these brokers for a number of years, have found them reliable and just sent a report to our Ecuador Living premium subscribers with contact details as well as a great real estate attorney in this area who can help buyers get US title insurance on Ecuador property.
If you are a premium subscriber and missed this password protected report be sure to click here.
If you are not a premium subscriber see details on how to be a premium subscriber here.
Join us in North Carolina this June to learn more about the Multi Currency Sandwich. June 24-27 International Investing and Business North Carolina
Visit Ecuador coastal real estate on our April Ecuador Mid Coast Real Estate Tour (See below).
Learn how to gain earning freedom with Ecuador exports at our Ecuador Export Expedition Tour ($499 or couple $749)
May 13-14 Ecuador Shamanic Minga
May 16-17 Imbabura Real Estate Tour
May 19-20 Coastal Real Estate Tour
May 22-23 Quito Real Estate Tour
May 25-26 Cuenca Real Estate Tour
You enjoy discounts by attending multiple seminars and tours.
Here are our multi tour adventure discounts.
Here is the balance of our 2010 schedule.
June 28-29 Ecuador Travel & Andes
June 30-Jul 1 Imbabura Real Estate Tour
2010 Summer Schedule
July 3-4 Coastal Real Estate Tour
July 6-7 Quito Real Estate Tour
July 9-10 Cuenca Real Estate Tour
Sept. 3-6 Ecuador Export Tour
Sept. 8-9 Imbabura Real Estate Tour
Sept. 11-12 Coastal Real Estate Tour
Sept. 14-15 Cuenca Real Estate Tour
Sept. 17-18 Ecuador Shamanic Mingo
Oct. 7 Quantum Wealth North Carolina
Oct. 8-10 International Investing & Business North Carolina
Oct. 11-12 Travel to Quito and Andean Tour
Oct. 13-14 Imbabura Real Estate Tour
Oct. 16-17 Coastal Real Estate Tour
Oct. 19-20 Quito Real Estate Tour
Oct. 22-23 Cuenca Real Estate Tour
Nov. 4-7 Super Thinking + Spanish Course Florida
Nov. 8-9 Travel to Quito and Andean Tour
Nov. 10-11 Imbabura Real Estate Tour
Nov. 13-14 Coastal Real Estate Tour
Nov. 16-17 Quito Real Estate
Nov. 19-20 Cuenca Real Estate Tour
Dec. 3-5 Ecuador Shamanic Mingo
Dec. 7-8 Imbabura Real Estate Tour
Dec. 10-11 Coastal Real Estate Tour
Dec. 13-14 Quito Real Estate Tour
Dec. 16-17 Cuenca Real Estate Tour