It’s no secret that the coast of Ecuador has some of the lowest-priced coastal properties in the world. Still, cash is king in the real estate market here, and not everyone can take advantage of the bargains to be found. If your budget will not allow you to purchase the retirement home of your dreams, the beach resort of Salinas, on Ecuador’s southern Pacific coast, still has some great opportunities for you as a renter.
In fact, there are some advantages to renting. Finding the right place overseas is not an exact science, and it is difficult to predict from 3,000 or more miles away what type of lifestyle and location will fit your needs. Some expats find it advantageous to rent for the first three to six months, or even longer, to find the perfect spot. Others prefer to try a few months in different areas, which can be a good idea in a country as ecologically diverse as Ecuador.
Take for example some renters that I know in Salinas. I have a friend who rents a two-bedroom, two-bathroom house, just two blocks from the beach, for $400 a month. Another single friend, who opted for condo living, found a one-bedroom, one-bathroom unit—fully furnished—including cookware, silverware, appliances, and large screen TV for $650 a month. His unit is in a modern, oceanfront building.
Both of them are long-term renters who signed year-long leases to get a better rate. This is an important tip to know, as renting in a beach area short-term has some special considerations. The months of December through April for instance are considered “high season,” when tourists and snowbirds escaping the North American winter can drive the price of two to three month rentals higher than the rest of the year. That means if you are shopping for a good coastal rental, you can find better bargains for short term (and negotiate better deals for long term) if you do your house hunting between May and November.
In the Salinas area, one reason the rental market is so large is because a lot of people have purchased oceanfront properties now while the prices are low, with the intention of retiring here at some point in the future. The moderate climate and low cost of ownership makes this easy to do.
Meanwhile, they want to rent their homes out to provide an income stream, or just to keep everything repaired and up to date. Some may visit a few weeks or a few months a year, and others take a longer view. The condo next to our home was purchased four years ago, about the same time we purchased ours and the owner still hasn’t moved in or even visited.
Here are some of the great rental properties available right now in our friendly, ocean-resort town of Salinas.
Moving in with more than a spouse, just like to have elbow-room? There’s a three-bedroom, three-bathroom, furnished condo in a modern building on the malecón renting for $1,200 a month. You can watch the boats coming in and out of the Salinas Yacht Club from your kitchen window in this 10th-floor apartment.
If you are bargain hunting, step back just two blocks from the beach and rent your own house. A two-bedroom, two-bathroom, two-story house with a balcony is listed for $400 a month.
You don’t have to spend a lot of money to live on the beach either. Although you can spend as much as $3,000 a month to live in a luxury penthouse, there are also properties like a three-bedroom, three-bathroom condo right in the center of the Salinas malecón offered at $600 a month. This condo is 1,345 square feet and features a large balcony where you can sit and enjoy the sights and sounds of the Pacific Ocean. It is furnished and is available for both short-term and long-term rentals.
Remember this is just the Salinas area. As you look up and down the coast, there are similar—or even better—rental options available. If you are attracted to the idea of a beachfront lifestyle, but don’t have a big chunk of cash, you can still live your dream by renting on the Pacific Ocean in beautiful Salinas.
Get Your Free Your Overseas Dream Home Report Now
Sign up for the FREE Your Overseas Dream Home e-letter and get a valuable report (free for a limited time) on the The Global Real Estate Boom of 2021: 15 Places Where You Can Profit.