International Business Made EZ, Quito, Ecuador, February 2004


Ecuadorian Condos for $17,000

Hummingbirds dine on honeysuckle, singing drunkenly in the dawn. Blackberries shout loudly of ripeness, reflecting black on dew-dropped jewels. This is summer's daybreak, pregnant and ripe in its fullness. Alive in the morning sun.

When the days are still long but morns come earlier now, we get busy setting winter's schedule which includes a stay in the La Mirage spa in Ecuador. While thinking of this sunshine-filled program I received a note from our friend and tour director Santiago Guarmani that we have worked with for so many years.

He has spotted an incredible opportunity that we can include while enjoying the warmth of South America's winter.He writes:

"Quito is celebrating the 25th anniversary of being the first city to be named Patrimonio Cultural de la Humanidad, or Humankind Heritage by UNESCO. There is a special opportunity now because the city has made a lot of progress in the old town. They started by hosting many street sales and are developing efficient and clean shopping centers built in the wonderful old colonial houses that are there. I find it is hard to believe how clean the old cobblestone streets look and how wonderful the restored facades of old houses are."As you know the old town used to be a bit dangerous but now there are tourist and national police in continual circulation 24 hours a day, adding lots of security plus there is a new security camera and night illumination program for all colonial streets and churches."The local government has taken control of the six main streets that are around the independence plaza for prestigious stores of the city."A five star hotel two blocks from the Presidential Palace is opening in September.  Two luxury restaurants and several cafes are now located around the main plaza and inside the old monasteries of Quito."This has really heated the area up and construction companies are now buying old houses and making nice projects so people can live in the new old town."For example one project by BALCON DE LA CUENCA has 33 apartments and overlooks a valley with spectacular views of the top of churches and the rest of the city.   They offer apartments for only $17,000 and project that the values will grow as additional projects completed."Another project in the old town being developed by FUNDADOR has 27 apartments offered at $19,000."In the Old City many of the wonderful old houses there can be converted into units for living, restaurants. My recommendation for your readers is to look now. They can still find beautiful old colonial houses for sale in the Old Quito, cafes or hotels and offices. Or they can buy themselves a small apartment for almost nothing and watch its value grow.  Old Quito is a very special part of Ecuador, unique, unlike any other place and those that like good real estate investments and colonial architecture should consider being here. Your friend,Santiago."

Good real estate values seem to be reigniting throughout Quito. Great bargains abounded after the economic crash in Ecuador a few years ago, and we took hundreds on real estate tours and they plucked up bargains for pennies on the dollar. Then with dollarization (the US$ is now the official currency of Ecuador), prices became unsettled. Builders did not know what impact the new currency would have and people could not figure out the U.S. dollar price, which had been in sucres, should be. Now the dust seems to have settled and we are seeing bargains again.

Because of this Merri and I will conduct a special real estate tour of Old Quito as part of our International Business Made EZ course we will conduct Friday, Saturday and Sunday February 13-14-15 in Quito.

To enroll go to http://www.garyascott.com/catalog/ or call Merri at 336-384-1122 or fax 336-384-1577 with questions.

If you have more questions about this course go to http://www.garyascott.com/archives/2002/11/05/682/ and http://www.garyascott.com/courses/publishing.html

This course will be conducted just a day after our next Global Health Secrets course at La Mirage Spa! Attend both and help improve your health and wealth this winter in Ecuador.

For details of the next global health secrets course be sure to see Monday's message on August 11.

Until then, may all your investing be good.

Gary


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