I found this informative and positive post about Guayaquil which is quite refreshing. In this article, Mr. Tom Kadala (www.researchpays.wordpress.com ) touch on the fundamental reasons why Guayaquil is a ‘hidden treasure’ for investors and highlights the key drivers that will soon make this former sleepy town on the west coast of South America into an extension of New York City.
Guayaquil, Perla del Pacific – (Pearl from the Pacific Ocean) –due to its privileged location on the Pacific coast facilities all trades and businesses; also it is an strategic hub for the global economy of Ecuador, Latin America, EU and USA.
I agree that Guayaquil has good potential, and it is going towards a modest business friendly environment. It is easy to fly in and out of Guayaquil airport and airport procedures and security is much better in Ecuador.
The biggest limiter for Ecuador is its size, but the best things are: the geographic location, and its industrious, entrepreneurial, courageous, and determined people. I believe Ecuador is becoming one of the most important and successful countries in all of South America over the next five years.
Thanks Tom Kadala for you insight view on Guayaquil!
Known mainly for its prehistoric inhabitants, the Galapagos Islands located off the coast of Ecuador has always overshadowed its bustling port-of-call, the City of Guayaquil. To attract some of the 450,000 annual tourist that bypass the city on their way to the Galapagos Islands, Guayaquil’s long term Mayor, Jaime Nebot, has been busy rebuilding his city hoping to convince some of these visitors to stay a night or two longer. New roads, malls, conference facilities, and two ambitious proposals to modernize their port facilities to world class standards has started to turn heads. For investors who dig deep into the numbers, they may be pleasantly surprised to find a growing middle class grounded on socialist beliefs but ready and able to respond to international business demands.
In mid-September of 2012, Guayaquil’s mayor and his entourage presented their case to investor groups in New York City. Mayor Nebot openly solicited…
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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:
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:
The actual performance of the region’s economies is surprisingly strong particularly when compared to past crises. China’s sustained demand for the commodity exports of the region and the timely monetary action of the IMF liquidity provisions, are two external factors that are undoubtedly part of the explanation.
However, internal factors played a major role too including greater macro policy resilience and the financial sector reforms in most countries over the last decade. One over looked factor is the contribution middle class consumption has done to the region; Latin America middle class is not the stereo typical one, they will be closer to poverty class in standard societies, and they also have limit access to aggregate demands that will condition micro economic growth, therefore domestic demands have allow this economies resilient to global crisis.
Future challenges will be: to secure domestic financial development against political pressures for short-term gains, to pressure the local financial sector as a market player while maintaining sound lending practices, and to adopt real government policies to sustained macroeconomic stability.
As for our self, if we are looking for new horizons to develop careers or retire while still contribute to society; this country will be a great opportunity to put in action collaborative strategies for development. A good starting point to contribute to real wealth and welfare should include strong education systems and investments in order to organize economics and promote better incomes distribution. Let´s make a better world for our next generations.
I will like to invite you to watch the following video