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Ecuador Multi Listing Service Bahia de Caraquez – Canoa & North Beaches

canoa

Bahia – Canoa – North Ecuador Map

Bahia

Bahia is Ecuador’s first eco city and this town and the areas north offer some of Ecuador’s greatest real estate potential.

The great potential comes because the bridge over the Chone River has been  finished in Bahia (just one and half hours north of Manta).

Previously a long drive or these ferries were…

Bahia-Ecuador-Ferry

the only way to cross the Chone.  They continually went back and forth costing about 30 cents for the trip.  However, at times it took up to two hours to get on a car ferry.

This bridge across the Chone is invaluable and  President Correa finger wagged and ear pulled for the slowness in the building of this, the longest bridge in Ecuador (about 2,000 yard span ). Here he was talking with the engineers.

Bahia-Ecuaor-President

Now the bridge is complete.

 

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Plus the new four lane highway from Quito to Pedernales is almost complete.  This road will put Bahia at between 4.5 and 5 hrs from Quito by car.

An airport extension in San Vicente, is also in the works so non stop flights from Quito will come.

Bahia is right now  “THE opportunity”.  See  real estate north of San Vicente and its wonderful pristine beaches!

Bahia has been described as “where Punta del Este, Uruguay was 25 years ago” and that Bahia will be the next Punta del Este of South America.

There had been no new condo buildings in construction in the last years but several are now being started.  The first new project sold 60% of its units immediately. The smart money is betting on Bahia.

Start Up Beach Project – North of Bahia – Cabuyal

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Beach project startup, Hacienda Palo Alto, north of Bahia starting in Cabuyal.

We have been reporting for years that the area in Ecuador with the most explosive potential is north of Bahia.

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Bahia.  See below how to get our updated report on Bahia FREE.

Bahia is a wonderful city, small, but large enough for services. There is easy access from Quito and elsewhere. There are big investments pouring into the area.

The spark we suggested would ignite the growth was the completion of this new…
Cabuyal-beach-ecuador

bridge – bridge over the Chone Estuary.

Next will come…

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regular flights from Quito to San Vicente Airport.

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Dirt roads from Quito and up and down the coast have been paved into four and six lane highways.

Now there is rapid change and development in Bahia, Ecuador’s first Ecocity.   This is the favorite town in the area with a population of 25,000 people located on the mouth of the river – Rio Chone.

There are clean beaches, a Museum of archeology and art, organic Eco-Shrimp farms and tourism.

Over the bridge is where we’ll see the fastest growth. The towns north of Bahia but still in the lovely province of Manabi are:

San Vicente
Canoa
Cabuyal
Jama
Pedernales

Cabuyal-beach-ecuador

Hacienda Palo Alto is a brand new project… just beginning in Cabuyal Ecuador.   The turnoff to the project is about 12 miles (20 kilometers) north of Canoa.

Currently Cabuyal is a very small town. Expect significant changes over the next few years, mostly due to the upcoming Hacienda Palo Alto.

Highway improvements will reduce drive from Quito to 4 hours (from 7+ hours last year, currently around 4.5 to 5 hours.

This is planned to be a gated Community with 24/7 security, underground utilities, fire hydrants, internal paved streets, outdoor shower at the beaches, paved beach access, manager and sales office, clubhouse with pool, bar and gym, helipad, walking trail, children’s playground and beach ranchitos for relaxing.

The plan calls for majority of the property will be left in its natural state.

Cabuyal-beach-ecuador

The land has creeks and huge ceibo trees, wild orchids, parrots, and howler monkeys.

The beach is mostly sandy and has a gentle slope.  There is a nesting area for sea turtles. Waves provide excellent surfing and body surfing. Humpback whales visit July through September.

This is an approved subdivision with 453+ acres and 1 km (.6 mile) of Pacific beach.

There are 166 ~2000 sq. meter (20,000 sq ft.) lots near the beach that are not low-lying, plus fractionals, and homes and some commercial retail. Most of the property is to be left in its natural state.

Sign up for a free Bahia report below.

Get more details about the project email info@haciendapaloalto.com

See Hacienda Palo Alto on a  Mid Coast Real estate Tour June 16-17-18 or August 21-22-23.

For Sale First New Building in Bahia de Caraquez Ecuador

bahia-ecuador-condos

Bahia is a special town with a rich sophisticated culture, that came as the coastal population developed a tradition of sending their children to study abroad. This created a great cultural diversity that was enhanced by the residents of Quito who used Bahai as their beach resort.

This caused Bahia property to become some of the most valuable on Ecuador’s coast. Then an earthquake struck and devastated the town and the Bahia  economy.  Prices tumbled to a tenth their former prices.

The population took this as a sign and remodeled this city into one in union with nature’s forces.

In 1999 Bahia was named the first Ecological City of Ecuador due to its innovative recycling program with garbage pick up every day.  Street sweepers still sweep the street daily with brooms.

Bahia has rebuilt slowly but solidly so today its rich culture, the hospital and many clinics and several private, public schools and colleges make it an ideal place.

Now Bahia is ready to expand and is growing rapidly.  The local airport is likely to expand and Manta’s airport just over an hour away makes Bahia convenient for reaching any part of Ecuador and Quito’s International Airport.

Yet many never leave since all the good things in life are here.   Bahia has a farmers market every day  with fresh fruit and seafood including shrimp for $1.50 per pound or langoustines and lump crab meat for $4 per pound.

Bahia is also a safe place to be.  Bahia has one of the lowest crime rates of all of Ecuador.  Bahia is our shopping town in Ecuador and is one reason why Merri and I chose our beach apartment on the beach of San Clemente… a small fishing near Bahia.

So it is not surprising that Jean Marie Butterlin who originally joined us in Cotacachi has moved to Bahia.

Jean Marie Butterlin reports on these Bahia condos for sale.

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First New Construction Project in Bahia in 12 Years

Jean Marie Butterlin

Bahia is becoming more and more popular and getting a lot more attention ; A year ago on our coastal tour we had about 65 apartments for sale in Bahia (we showed to our delegates about the 10 best we had) ; in March we had only 5 left to show that were suitable for expats. After the earthquake hit in the late 90’s, all new constructions stopped and no condos were built since then.

The apartments available for sale in the resale market are usually 13 to 17 years old and need some refurbishings ; they were built for wealthy Ecuadorian families that came from Quito for their vacations about 3 times a year ; they are usually pretty big (4 bedrooms and about 180 m2/1,900 sq.ft) and sell for about $65 to $68/sq.ft. when located in premium beach areas.

This is just in front of the hotel La Piedra on an empty lot facing the ocean and the bay showing a picture of a new construction building. This is a new construction building.

Here is why I bought an apartment in that new project :

1) The price at $81/sq.ft for a new construction was just $1/sq.ft higher than what I would pay for a used remodeled apartment. That was a no-brainer to me !

2) The location : the view on both the ocean and the bay are just what I was looking for.

3) The finishings are much better than what I expected to get in Bahia with huge terrasses on all sides, hard wood floors, American kitchen with hardwood cabinets.

4) Right size : Most apartments had the size I was looking for (2 or 3 bedrooms and about 1,200 sq.ft)

5) I got a free membership to the Tennis club ($1,500)

6) It has amenities that no other building in Bahia delivers i.e. desalinization water system, own generator, 2 pools and jacuzzi on the top floor, nice lobby like a luxury hotel, with outside glass elevator facing the ocean ; 24/7 security, magnetic cards system, underground garage, bodega etc…

7) It is an income generating apartment : the Hotel La Piedra will rent out your apartment, when empty and do all the cleaning etc… you can also rent it yourself during the High season (30 to 40 days/year) and make about 6% on your money during that time.

When I bought  last December, I got pre-construction price ; when I came back in February construction had not started yet and when I saw that prices in the used market were starting to rise, I bought a second smaller apartment just for investment because I knew prices would go up by 10% one week later, when construction was set to start. Now the price I got on that second new condo were lower than a similar used/remodeled apartment. (I took advantage of that little price distortion)

We had a few delegates, who bought in that project at pre-construction prices in the last few months and they have already locked in a 10% profit ; right now construction is well under way, and the building should be finished by December.There are only a few units left ; however, the builder is giving EL premium subscribers and delegates on our next coastal tour a $4,000 custom furniture allowance. There is also a 4% discount available for a 50% cash upfront payment.See the project at :  www.oceanbaytowers.com

Jean Marie

For Sale – Four Bahia Ecuador B&Bs

B&B-Bahia

These properties for sale offer some incredible opportunities in Bahia, Ecuador.

Xavier, our man in Bahia, has uncovered a really  interesting jewel :  This house overlooking Bahia situated on the hill  with six  bedrooms perfect for conversion  into a B&B.

There are two floors with more than 2000 square feet. The asking price is $99.000 and negotiable.

Here is the view…

B&B-Bahia

from this house.

Bahia lacks hotel rooms, as well as B&B’s; so there is a real opportunity to live the good life in Bahia and make some income at the same time.

There are three other B&B possibilities in downtown Bahia.

Here are some photos.

B&B-Bahia

These properties range from $150,000 to $250,000 and…

B&B-Bahia

they all have 6 or 7 bedrooms.

B&B-Bahia

This is the time to come down and look at retiring while making some income.  Xavier told me that owners charge $30 and $40 per night for a stay in a B&B.

Our next coastal tours are shown below. We hope to help you see a Bahia B&B, cross the river Chone with us, and see the opportunities to the north.

For Sale – Bahia Condo

Jean Marie Butterlin who reports on Ecuador real estate price distortions.

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Delegates look at a unit for sale at half price. See why below.

Ecuador Midcoast Price Distortions
Jean Marie Butterlin

When I am on tours with our delegates, I always try to spot price distortions, which translates into very good deals.  There are many reasons we can find beach price anomalies.

#1: The seller does not know the real value of his property. This happens more often than one would think especially in a fast moving environment like Ecuador’s mid coast.

#2: A seller is desperate to sell because he or she has obligations. (Wedding of a child, mortgage repayments, etc…)
Usually these deals do not last for long as the market will correct them.  I am often amazed that in certain areas, these good bargains are not snapped up immediately.  One reason is lack of efficiency in the Ecuador market place.  The MLS at Ecuador Living is still small because there are few brokers who will use it.   There is no good advertising system.   There is little communications between real estate agents.

Ecuador Living is working to improve this… but changing the mistrust between brokers and creating a system that assures broker’s commissions takes time.

On our last Ecuador beach real estate tour we saw several of these distortions.  We  pointed them out to our delegates and they were quick in investigating more deeply into them.

We also  have one of our attorneys that we recommend meet and speak to the delegates to answer their many questions.

When one finds a very good deal one needs even more caution! Your independent attorney should make sure that the property has a clear title and that the seller actually owns the property for sale.  We always recommend getting US title insurance.

To find  Ecuador beach real estate distortions, spend time in the types of areas (city, small town, village or lonely coast) that you like best. Talk to local people, not just expats.  We always recommend rent first and buy after you have spent a few months in the place.

Here is just one example of a price distortion north of Bahia:  This is a 3 bedrooms, 1,800 square foot condo with an asking price of only  $80,000.

ecuador-breach-real-estate

The owner is desperate and needs the money.  This apartment needs renovation but is offered at less than half the price that similar apartments have sold in the area. Plus there is still room for negotiation.

Jean Marie  jeanmarie@ateamecuador.com

For Sale – Canoa

san vicente-pedernales-real estate

Gated community of 1/4 acre beachfront lots with homes that start at $99,000 with underground utilities, tennis courts, swimming pool, clubhouse.  This is in the friendly Jama/El Matal  community on Ecuador’s beach.

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#NB102 North Ecuador Beach Lots

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New project on 153 acres that runs along the Pacific Ocean, and limited at the other end by the Highway called Ruta del Spondylus (formerly Ruta del Sol) offers more than 1500 lots from 150 to 500 square meters (1500 to 5000 square feet). Prices start at  US$5,000. ($2.50 per square feet) with 60 month financing and 25% deposit down or a 15% discount

Return to main Ecuador multiple listing service

The properties below have been listed on our Ecuador Living Multiple Listing of Ecuador real estate.  This may be the first national MLS that shows Ecuador real estate in all parts of Ecuador.  Note that descriptions and comments come from the seller.

Ecuador Living subscribers can see the full password protected multiple listing service with full details and seller contacts here.

To lean how to subscribe and gain the password click here

Place your ad for Ecuador real estate for sale here.

You may subscribe to the free Bahia report here if a form appears below or visit http://www.ecuadorliving.com/free-bahia-report.

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