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Informative Event for Canadians in Guayaquil, Ecuador

Dear Canadian Citizens,

The Embassy of Canada is pleased to invite you to an informative event which will be held jointly, with the collaboration of local authorities from the Ministry of Foreign Affairs, Civil Registry Office, Transit Agency and Customs to update you about their latest procedures:

For anyone who has questions on passports, local driver’s licenses, Ecuadorian visas, or importing goods, this is the perfect opportunity to get answers to all of your questions.

Guayaquil
Tuesday, March 17, 2015
Marriott Hotel
Av. Francisco de Orellana 234
From 15h00 to 17h00

If you are a Canadian citizen, we invite you to register with us.
This will allow the Embassy to contact you in case of an emergency.
Register online at http://travel.gc.ca/travelling/registration

Follow us in Facebook: Embajada de Canadá en Ecuador

Cher citoyens canadiens,

L’Ambassade du Canada est heureuse de vous inviter à une session conjointe d’information avec la collaboration des autorités locales du Ministère des Affaires Étrangères, du Bureau de l’État Civil, de l’Agence de Transit.

Guayaquil
Mardi, le 17 mars 2015
Hotel Marriott
Av. Francisco de Orellana 234
Heure: de 15h00 à 17h00

Si vous avez des questions concernant les passeports Canadiens, les permis de conduire Équatoriens, les visas Équatoriennes ou l’importation de marchandises, c’est l’occasion idéale pour obtenir des réponses.

Si vous êtes citoyen(ne) canadien(ne), nous vous invitons à vous inscrire auprès de nous.
Ceci nous permettra de vous contacter en cas d’urgence.
Inscrivez-vous en ligne au http://voyage.gc.ca/voyager/inscription

Suivez-nous en Facebook: Embajada de Canadá en Ecuador

Sincerely yours/Cordialement,

Consular Section/Section Consulaire
Embassy of Canada/Ambassade du Canada
Av. Amazonas N37-29 y Unión Nacional de Periodistas, Edificio Eurocenter, Piso 3 Quito, Ecuador Phone/Tél ephone: 02-2455-499 E-mail/Courriel : quito.consular@international.gc.ca
Website/Site web : http://www.ecuador.gc.ca

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Olon, Ecuador Beach Sightseeing

You have to watch this video, it really shows Olon Beach, Ecuador, how great its surroundings are…
This video is fresh news locally, it was recently made by the cast of a local TV show… hope you enjoy it and get to know a bit more of Ecuador’s Pacific Coast.

 

Checking to buy a home, house, condo, or land….. in Ecuador

After more than 7 years of living in Ecuador, I can honestly say I have a pretty good grasp on Ecuador’s coastal real estate market. Since I have seen property prices rise at a surprisingly rapid rate, I will like to share a great Real Estate NY Times article that I read today and my personal comments on the topic.

For the article visit this link: House Hunting in…. Ecuador

My personal opinion is that the information you receive from online sources and printed material about living or retiring in Ecuador is not current with reality. When they mentioned beach properties in Ecuador between $10,000 to $50,000 US, I would say that in rare occasions you could find a local beach property at that price, maybe you will find a property that is in a remote beach area, or in desperate need of repair, or it has some legal problems and title problems.

Now Ecuador is a great “beach Paradise”, I honestly could say that is still one of the best Latin America destinations to live and retire; just that you have to be ready to pay a bit more than what is advertised at times. If we compare to other retire heavens along Central and South America, I will say Ecuador can offer you more value to your dollar: Political and Social stability, US dollar currency, beachfront property belongs to you, better weather not as humid or hot, growing economy and very warm and welcoming local people.

What you basically have to do to buy at real local Ecuadorian housing price is research the local market, you may have been told that there is no MLS services in Ecuador, but the real truth is that there are plenty of great local MLS services, I know there are in Spanish, but now a days as the industry gets more globalize, I am pretty sure that soon they will be offer different languages platforms.

Here is one Ecuador MLS that I use often for homes, land, condos sale in Ecuador: www.plusvalia.com

I would recommend doing your homework before getting involve with Real Estate agents or Lawyers in Ecuador, you will find a lot of times that this people are not up to date on prices and surroundings areas news. At times even locals or a person like me with years of local experience on developments can oversea markets tendencies or local governments problems, since it is an emerging economy, a lot of local governments are embracing new laws and changes.

This is exactly what happened to Playas just an hour drive from Guayaquil’s airport, it was expected for Playas to be the next beach spot, but Playas has stagnated in time, there has been no improvement on roads and basic services as it was promise, I would say that it has worsen in that past year, and the local Municipality has no mentioned new plans or improvements.

I’m sad since it is a great beach location with lots of sunshine all year round, but unless they are able to overcome their local politics, there is not much that it can be done.

All of these have push all other beach locations along Coastal Ecuador: Santa Elena to increase on price and demand: Salinas, Punta Blanca, Olon and many more are seeing great construction developments supervise by the local Santa Elena Municipality with great basic services improvements.

Few highlights from the NY Times Real Estate article:

  • The housing market in Ecuador, frequently touted as one of the best and cheapest countries worldwide for retirees, has been supercharged for the last five years, with home prices appreciating annually by 10 to 12 percent, Mr. Morrill said. The global real estate crisis of 2008 had no impact on housing prices there, with a large influx of Ecuadoreans returning home helping to maintain a robust market, he said.

  • “Prices are anywhere from 50 to almost 100 percent less than what you’d pay in Panama or Costa Rica, so it’s still very reasonable,” he said. And there are some signs the market may be cooling a bit, with this year likely to see home prices grow by only 7 to 9 percent, Mr. Morrill said. “There are some new regulations that will probably keep the prices pretty stable for a while,” he said. “These are new requirements for developers that will probably keep the inventory reasonable.”

  • Foreign home buyers in Ecuador are predominantly North Americans, though there are also Europeans, Australians and New Zealanders, agents said. There is a significant German expatriate community in Cuenca. Most recently, many Canadians have been in the market seeking homes in the coastal areas.

  • There are no restrictions on foreign home buyers in Ecuador. Bank mortgages are extremely difficult to obtain, and while some of the larger property developers offer short-term financing, it’s largely a cash market, brokers said.

  • A lawyer is not necessary to buy a home, but some brokers recommend that non-Spanish-speaking foreign buyers hire one, which typically costs about $850. The most important way foreign home buyers can protect themselves is by purchasing only properties that can be registered at the Real Estate Public Registry, Mr. Uhe said. “When you read about nightmares with home purchases in Ecuador, it’s all relating to properties that are unregisterable,” he said, which frequently has to do with title issues.

  • In general, closing costs range from about 1.5 to 2.5 percent of the purchase price, Mr. Morrill said. Traditionally, buyers pay the real estate agent’s fee in Ecuador, but that is changing in many areas, agents said. In Quito and Cuenca, sellers now pay that fee, which is typically 3 to 5 percent. In Vilcabamba, buyers still pay the broker’s fee most of the time, Mr. Uhe said.

  • Property taxes on this home are less than $500 a year, and the homeowner’s association fee is about $120 a month, Mr. Uhe said.

Ecuador’s Ministry of Tourism: ecuador.travel/en

Home’s website: quintaesencial.com

Ecuador property blog: conquistadorinecuador.blogspot.com

Government of Ecuador:  presidencia.gob.ec

Luxury Apartments in Olon, Ecuador (Special Promotion)

Olon Beach is one of the favorite stretches of beach along Ecuador’s Coastline. You have 8 miles of beach; also you can be 100 feet into the water and still only be knee deep and no rip tides. This laid-back coastal city sits approximately 195 km north of Guayaquil’s international airport and just 5 minutes from Montanita, another of Ecuador’s most popular beaches.

You can buy your Ocean view Luxury Condo at the best beach location in Ecuador and finance it through construction.
Prices starting from:
Suites: $79,000 US & Apart.: $92,000 US
Apartments highlights:
• Pre-construction SALE
• 2 -3 Total Bedroom(s)
• 21/2 to 3 Total Bath(s)
• Approx. 1950 sq. ft.
• Balcony in each condo
• Luxury finishes
• Appliances included: microwave, stove and refrigerator
• Pre installed ducts for Air Conditioning
• 1 Car Garage
• Infinity Pool and BBQ area on the beach
• Direct beach access
• Building is on a corner lot
• Outdoors Family Area
• Landscaped Garden
• Building Security
• Fabulous Ocean View

Our financing will be for the 60% of the total price, which will be divided in the following forms of payments:

FINANCING 60%
1. 20% at the purchase/sale contract.
2. 40% in quotas during construction period.

The project is held in escrow during the pre-construction phase by the selected title company, which is an insured account that holds your funds until construction starts.

SPECIAL ONE TIME PROMOTION: Inquiries at linalandivar@ecuadorservices.org

 

 

Tidal surge destroys 8 houses in Crucita, Ecuador

crucit54

Houses that were used as small fishermen commercial location (fish cleaning) were destroyed by the high tide force that hit this morning the beach location of Los Arenales, at Crucita Parish, Province of Manibi, Ecuador.

José López, leader of the fishermen at this parish in the Province of Manabi, Ecuador, said six other cottages gave way to the force of the sea early Wednesday.

Melisendra Delgado, owner of one of the cabins, said that in the past three years the situation has been similar, and now she doesn’t know how to find the monetary resources to start over with the business which offered employment to about 20 other people.

According to Hilton Guanoluisa, a local fisherman, to build a cabin will cost around $ 3,000 to $ 5,000 USD straight from their pocket.

Up to today, the owners of the destroyed cottages did not get any assistance or help from authorities, as Delgado said. The National Secretary for Risk Management in Manabi had not pronounce any statement on this matter.

 

Neptali Palma, Portoviejo, Manabi, (Thursday, Jan, 30, 2014)

Retireved from El Universo – Top Ecuadorian Newspaper

High Tide destroys 8 houses in Crucita (Spanish)

Surfing in Ecuador – Reef Classic Ecuador Turistico 2014

28 Jan to 1st Feb // Engabao – Playas, Ecuador

$25,000 USD in PRICES

Returns to Ecuador ‘s most important international surf event, the ” REEF RESORT CLASSIC GUAYAS 2014 ” This new edition will take place from Tuesday 28 January to Saturday, February 1st. They are changing the old headquarters, moving from the traditional Montañita, to a new great surf location – La Ruta del Pescador – Engabao in Playas, Ecuador. This is an ideal site for surfing and recreation.

“Playas is where surfing began in Ecuador ,” said Jorge Andant Mannino , Event Director . “Plus, it is a very privileged surfing area, and the place to find the best balsa board. Playas is part of the Province of Guayas, and the new Secretary of Tourism has great development plans for this Coastal Region in Ecuador

According to the organizers the beach chosen for the traditional and prestigious surf contest, Engabao Beach, has the same “window” as the waves in Montanita. In Engabao waves come from the north , west and south, added to this, in late January the “point” is usually well sanded , which makes it easy for perfect tubes and to break at the beach,  providing a great aerial show for the public to watch.

“The action for the best hot spot of professional surfing in Latin American region is has been set” reported Gustavo Plaza, one of the organizers.”To this we must add the advantages of the second best climate in the world (attribute made by the – Beach and Fisherman’s Road, UNESCO, 1982 -)”.

We can add few more advantages to the Reef Classic 2014 new beach location:

They have implemented new beach facilities,

This beach location is only an hour from Ecuador’s largest international airport, which is Aereopuerto de Guayaquil,

A brand new 4 line highway,

Plus the excellent tourism and gastronomy services,

…. and many surprises prepared by the Organization, all of these and more will make this the best REEF CLASSIC in Ecuador’s history “

We will have the chance to see over 150 professionals from 16 countries around Latin America ; those athletes will be distributed among the categories Open, Longboard, Junior and Ladies; all surfing away for $ 25,000 USD in prices.

All the competitions will be broadcast to the world, live and online via webcast, international networks and Space Fox Sports TV will produce one hour specials from the event.

This awesome touristic promotion is considered of “national interest” for Ecuador, reason why it has all the support from the Government of the Province of Guayas and the Ministry of Tourism. On Saturday, February 1 will be the traditional closing awards ceremony in the heart of Playas, it will include the election of the famous Miss Reef , the champions awards, great music concert and a something we can not missed, the CLOSING PARTY.

IMPORTANT NEWS: New Real Estate Regulations in Ecuador as December 2013

SUPERINTENDENCY OF COMPANIES REGULATIONS FOR THE OPERATION OF REAL ESTATE COMPANIES

 

Source: SUPERINTENDENCY OF COMPANIES

Resolution No. SC.DSC.G.13.014 of the Superintendence of Companies comprising the Regulation for the operation of companies that carry out real estate activities was published in Official Register No. 146 on 18 December, 2013.

In accordance with the Regulation, it is mandatory for companies whose corporate objective is real estate activity in any phase (promotion, construction, marketing etc.) and that receive money from clients in advance to delivering housing and buildings to comply with the following:

  • To own the land on which the project will be developed or to hold the fiduciary rights in the trust that owns the land.
  • To obtain the necessary permission for construction from competent public bodies.
  • To possess an economic budget for each project. This must include the duly assessed financial projection, estimated time of completion of the project, the sale price of each housing unit, and the parameters for achieving the break-even point and profitability.
  • To sign and comply with promissory purchase/sale agreements establishing price, payment conditions, closing date and deadline for signing the public deed, and to sign the final deeds of sale.
  • To follow the requirements of the Superintendence of Companies and comply with all provisions issued by it.
  • If companies carry out their activity through a Escrow Business Trust, they must also comply with regulations issued by the National Securities Council.

The Resolution also establishes that for the development of real estate projects that require “financial resources from promissory purchase/sale agreements for such project’s property units, before entering into the agreement a Fiduciary Escrow Trust must be created allowing a fund and trust manager to manage said resources”.

Companies who carry out real estate activity are, among other things, prohibited to enter into private preliminary reservation or promissory sales agreements; to sign more than one promissory sales agreement for the same asset; and to designate money from a specific real estate project to other real estate projects.

The Ombudsman will receive complaints regarding discriminatory or inequitable clauses, without prejudice to complaints made before the Superintendence of Companies and relevant legal action.

The Superintendence of Companies will carry out inspections to verify compliance with the current regulations by real estate companies. In the case of observations, the Company will have five days to give its view on the matter. If the Superintendence of Companies considers that the Company is involved in one or more grounds for intervention, it will proceed to “declare a state of intervention in the company and appoint an intervention supervisor”. The supervisor will issue a report regarding the general situation of the company. If the company cannot apply corrective measures to overcome a negative situation that presents risks to its clients, or if said measures are not complied with within the given deadlines, the Company may be declared dissolved.

December 19, 2013

MLS Services in Ecuador…. is free!

Multiple Listing Service in Ecuador, there are many of them for free and with great online services.

Others will tell you that they are not available mainly because they are still making a profit out of gray “pocket listings” or marking up the For Sale By Owner properties.

Ecuador has no restrictions on foreign investment in real property; you can buy real estate the very same day of your arrival using only your valid passport as identification

You can check my Personal adds on free Multi Listing Services in Ecuador:

Luxury Condos in Olon

Oceanfront Condos – Club and Marina

Pre-Venta Departamentos de Lujo en la Playa de Olon

Legal Real Estate and Development Transactions in Ecuador:

When informal business transactions were first recognized in Ecuador, the discussion focused on inefficient public institutions, cumbersome registration processes and a general distrust of the government – all factors that spur the creation of a market outside a country’s formal structures – does days are gone, Ecuador Real Estate Law enforcement is making its way into this new emerging economy.  If you put together all these new changes with a stable US Dollar economy, Ecuador becomes a great property investment location to live and retire.

Use to be that many locals and foreigners depended on informal Real Estate employment or businesses for a living, but informal employment has had serious consequences at the levels of both the individual and society. Beyond earning levels, informal employment makes OWNER, BUYER, AGENT ‘s basic legal rights vulnerable and difficult to defend.

The only real problem you may find will be the language barrier, there is a straight forward solution: translation services or bilingual proof services. Remember, there are many local Ecuadorians Professionals that speak English and Spanish fluently.

Do Not Pay Buyer’s Agent or Finder’s Fees!

Ecuador is in the process of strict regulation of its Real Estate Market and Development. For many years, Real Estate Developers, Service Providers, Agents, Locals and Foreigners Vendors, For Sale by Owner….. transactions have been mostly cash transfers due to the relaxed nature of informal transactions.

The Ecuadorian law is enforcing and updating its Real Estate Laws, this will improve the overall Real Estate Service Industry and Development. Important for you to know: Ecuadorian Law estates that the Seller pays a sales commission to the listing agent, then the listing agent splits that commission with the agent bringing the buyer to the transaction much like in the US.

How should you go for assistance?

For consumers or legal claims, any local Ecuadorian Legal Attorney or Buffet will be able to help you out, now just be aware of: ANY ATTORNEY THAT ASK YOU FOR MONEY ONLINE, there is no reason for a professional to request any money until you have verify with third parties of their professional background. Like in USA or Canada, you will find many scams online.

The following links will provide you with details on Ecuadorian Laws and the government institutions to go in case you encounter any problems while doing Real Estate business in Ecuador:

Law for Real Estate Agents of Ecuador

Consumers Protection Law of Ecuador

Government Ministry of Industry and Productivity: Consumers Protection Program

Government Office for Peoples Defense

English Post on Ecuador’s New Consumer Protection Law

Golf & Club Resort in Coastal Ecuador, La Peninsula

New golf course development in Coastal Ecuador is taking into account environmental factors and seeking to be amongst the most Eco-friendly in the world.

The developers will open the first 18-hole championship level golf course in Coastal Ecuador by January 2016.

Located in the scenic Coastal Location of Ecuador, the 1500-acre development is the newest and most exclusive residential resort community in Latin America and has been designed to protect the indigenous flora and wildlife of the area.

The layout encompasses woodlands, meadow lands, ridge lines and riparian valleys coupled with dramatic elevation changes making for a signature golf experience. The developer’s goal is to create a course that blended seamlessly into the unique topography of the land, they sincerely believe in creating one of the most visually stunning courses in all of Central and South America.

This peninsula location is one of the most desirable destinations in Ecuador for those who seek to retire comfortably or invest in a vacation home in increasingly popular Latin America, this location is internationally acclaim as the one of the best micro climates in the world.

International climate experts have section Ecuador Coastal Region in three:

1.      The tropical wet forest of the north – Esmeralda, Bahia, Manta

2.      The tropical savannas of the centre and southeast – Manta, Puerto Cayo, Olon

3.      The dry forest of the west and southern peninsula – Salinas, Anconcito, Playas

This Golf Club Villa development seats right on the peninsula, therefore: ‘The wonderful year round climate and scenic beauty of the region will be a perfect location for an active lifestyle that can include championship golf, hiking, birding, mountain biking and rafting, as well as many other activities.

It is one of the fastest growing retirement and tourism destinations in the country due to its lush vegetation, vibrant population of rare birds and the hiking opportunities. It is also an Eco-tourism destination.

Ecuador’s Coastal Peninsula has been a claim internationally as one of the top destinations to buy a property because of its infrastructure, business services, medical care and telecommunications combined with a desirable but affordable standard of living, some of the finest ecotourism in the world, bird-watching, scores of exotic beaches and islands, snorkeling, diving, sport fishing, white water rafting, rock climbing, fine restaurants, and a multitude of historical sites.

Request all details: info@ecuadorservices.org

 

A day on the beach!!!  is one of the best options to improve your life, retire by the Ocean in Coastal Ecuador.

You could find with us one of the best options to improve your life and make your retirement very satisfying. Check our brand new Free Ecuador MLS Service. Take advantage of our pre-sale prices, fill up our contact form or send us an email at linalandivar@ecuadorservices.org

Check Ecuador Free MLS Service web page ww.ecuadorservices.wordpress.com

All our projects are back up by a mix of local and international investors with a well established local construction tradition.

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