When this property crossed my desk, I had to drop everything and write to you. It’s impressive. A spacious beachfront condo for just $79,000.
This condo is in Salinas, Ecuador. Salinas is often compared to Miami. That’s down to the swathe of gleaming high-rises lining one section of the curved bay, and the jet set lifestyle enjoyed by locals and visitors.
The property market in Ecuador is limited, tied to a relatively small middle class. Combined with a lack of foreign buyers, that means that property prices remain low here. They have increased steadily year on year, but have not had a real estate boom. But with increased interest from foreign buyers—looking for an affordable beachfront home—that situation could change.
In Salinas luxurious yachts sway gently on the ocean beside the yacht club during the day, while jet skis and windsurfers skim across the waves. At night, the city’s boardwalk buzzes to the sound of hip nightclubs, live music and dancing.
You’ll enjoy warm beach weather year-round here, with low humidity levels.
Furthermore, Salinas is one of the most developed cities on Ecuador’s coast. It offers big-city amenities: Supermarkets, shopping malls, hospitals and clinics, cafes and restaurants.
You won’t pay Miami prices for a beachfront property in Salinas.
The living space of this three-bed, two-and-a-half-bath condo covers 1,300 square feet. In a quiet neighborhood, the property comes with covered parking…and an ocean view. The property sits alongside the beach, and the views are uninterrupted—no boardwalk or street between the condo building and the beach.
The asking price is $79,000. That’s less than $61 a square foot for a beachfront condo. Compare that to similar condos in Costa Rica or Panama, which would cost two or three times the price, and you can see what good value you can get for your money on Ecuador’s coast.
Not only is this property affordable, so are the running costs. The monthly condo fees run around $55 a month, and property taxes come in at less than $200 a year.
Editor’s Note: Margaret Summerfield is a directer of Pathfinder (IL’s preferred real estate marketer). Margaret shares deals like this all the time with her readers. If you want to get the Pathfinder e-letter, too, just add your address here. It’s free.