Cuenca Real Estate


Cuenca Real Estate

The Cuenca real estate market grows.

Cuenca-real-estate

Real Estate in Cuenca has wonderful architecture. Here is Cuenca’s Main Square.

Even the daily press is catching on to Cuenca and Ecuador real estate.

An article “House Hunting in … Ecuador” by Lisa Keys recently appeared in the New York Times.

Here are excerpts from that article: A THREE-BEDROOM, 3000-SQUARE-FOOT HILLTOP HOME IN CUENCA
$220,000  This rustic home — made from local bamboo, hardwood, river rock and tile — was built two years ago by a local architect. It sits on a third of an acre in the Cuenca, a Unesco world heritage site about 300 miles south of Quito.

The front door is inlaid with the local wood, called chanul. An open living room/dining area has mountain views, as well as a stone fireplace, exposed hardwood beams and posts, and a brick ceiling. Off the dining area is a 96-square-foot terrace. The eat-in kitchen has granite countertops; off the kitchen is a maid’s suite. The master bedroom is on this level, along with a second bedroom; both bedrooms have en-suite baths.

A brick-and-bamboo staircase leads upstairs to a sitting area and another bedroom, which has a sloped ceiling and a 36-square-foot terrace. The lower level has a workshop and a storage room.

The house is off an unpaved road in the Rio Amarillo neighborhood, in the foothills of the Cajas Mountains. The area, until recently very rural, is morphing into a suburban neighborhood with large homes, according to David Morrill, the home’s listing agent.

Colonial buildings, art galleries, museums and concert sites are about six miles away in Cuenca. A shopping center as well as Cuenca’s indigenous market is four miles away; the airport, with numerous daily flights to the international airports in Guayaquil and Quito, is eight miles away.

MARKET OVERVIEW

Though predominantly a local real estate market, Cuenca is becoming increasingly popular with American expatriates, particularly retirees, said Mr. Morrill, a partner at Cuenca Real Estate. They are attracted to the relative affordability, he said.

In spite of the global economic downturn, home prices in Cuenca continue to rise, in part, because of they are relatively low to begin with. Condos sell for around $700 a square meter ($56 to $65 a square foot); new construction is $850 a square meter ($79 a square foot), Mr. Morrill said. Single-family homes are $300 to $500 a square meter ($28 to $46 a square foot); new construction is approximately $500 a square meter ($46 a square foot), he added. The house featured here is more expensive than the average, at $73 a square foot, because of its unique design and expensive building materials.

North American buyers are not the only reason for the uptick.

There are some great things about Cuenca like…

Cuenca-real-estate

The agriculture that surrounds Cuenca. Here is an organic farm in the San Joachin area of Cuenca.

One of Cuenca’s public markets.

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Here a Cuenca flower vendor in one Cuenca’s many public markets.

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Cuenca has many parks. Here is Parque de Paraiso which has walking and biking trails.

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Four rivers flow through Cuenca.

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Yet there are more forces pushing Cuenca’s and Ecuador’s real estate market.

An article from entitled “$600 Million Earmarked by Government for New Housing projects” World Assurance Group Inc.” says: Nov 02, 2009,  World Assurance Group Focuses on Central America in Conjunction With a New Ecuadorian Housing Mandate . World Assurance Group (PINKSHEETS: WDAS) announced today that the Ecuadorian Government has recently announced substantial policies aimed to increase new home buyers in Ecuador.  New home buyers will be allowed a $ 3,960 bonus given by the Housing Ministry for a new house they purchase. It seeks to expand such support to $ 5,000 for homes with a value of up to $ 60,000.

WDAS had announced on Oct 22, 2009 that its subsidiary ANAV Holdings Corporation signed a proposal to enter into a purchase agreement for an 8.5% participating interest in a 15 hectare private housing community located at one of the leading ports in Latin America with Premier Developments. The project’s first phase is in full production and has already sold 20% of the 207 homes. The entire project including phase two will be an estimated 500 home development. Currently these homes sell for $40,000 – $80,000 price range.

Low prices…  great natural resources… colonial charm… every facility a city can possess… but not too many people are all helping Cuenca real estate grab attention.  All of this will help the Cuenca real estate market to grow.

Gary

See the best Ecuador property for you.  Find the best real estate offers.  Know more of Ecuador. To help you experience a bigger adventure in this wonderful nation, to broaden your horizons, to expand your awareness of all Ecuador offers, we are providing deep discounts in 2010 for those who sign up for multiple tours.

See more on Cuenca real estate  at “Cuenca Real Estate

Gary

Join us in Ecuador or Florida or Both. See the best Ecuador property for you.  Find the best real estate offers.  Know more of Ecuador. To help you experience a bigger adventure in this wonderful nation, to broaden your horizons, to expand your awareness of all Ecuador offers, we are providing deep discounts in 2010 for those who sign up for multiple tours.

Join us at our upcoming courses and tours.

December 6-8 Blaine Watson’s  Beyond Logic & Shamanic Tour

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See our entire 2010 seminar and tour schedule here

$600 Million Earmarked by Government for New Housing projects

www.marketwire.com/press-release/World-Assurance-Group-Inc-1069068.html



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