These four condos are left in the nicest building on the Ecuadorian coast in Bahia de Caraquez and there is a very special deal for EL subscribers and Ecuador real estate tour clients.
The head of Ateam Ecuador, Jean Marie Butterlin, lives in Bahia and sent this note.
There are four condos left in the first apartment building to be built in Bahia for 15 years. They are scheduled to be finished in December 2011. Our tour clients who bought early at pre-construction prices are already enjoying a 20% rise in the value of their property from a year ago. There are five of our delegates who have already purchased units here.
Many Ecuadorians also have units which is a good sign that the price is right as the locals know best the market price. I always like to go to the restaurants where I see a lot of locals. The same is true when buying real estate. I look where the affluent locals are buying property.
Here is a picture of the building taken on Oct 10th.
Here is the view from the unit I purchased on the 5th floor.
The building is situated on the Malecon at the very end of the Bahia peninsula, with views on the ocean, the bay, the bridge and the city. There are only 4 units left ranging from a 2 bedroom 967 sq.ft 2nd floor priced at $80,522 to a 5 bedroom 4th floor 2,690 sq.ft priced at $256,120.
The 2d floor apartment is priced at $83.26 per square foot.
This is 2.5 times cheaper than any new construction building that I know being sold right now in South America on a sea front/malecon. On the Columbian coast, for example, prices are running at well over $200/sq.ft and in Brazil around $650 to $800/sq.ft.
The owner/contractor of the building is giving EL subscribers and our tour clients a special $10,000 discount for these units that will be finished at the end of this year. (The prices above include the special discount provided to our clients.)
An additional 4% discount is also available if a 90% down payment is made at time of purchase.
Amenities range from :
– own potable water with a state of the art desalinisation plant
– own power generator
– 2 pools and jacuzzi on the roof
– outside glass elevator facing the ocean.
– hotel type entrance with a concierge
– 24h/7 security guard
– Coffee shop in building (rent will pay part of the HOA)
– Pre-wired A/C
– High end hard wood kitchen cabinets and vanities
See how to get an Ecuador Living Club password here.
We DO NOT investigate properties when they are advertised so be sure to complete your due diligence and always use an independent Ecuador attorney who represents you (not the seller) when you buy real estate in Ecuador. We also recommend that you rent before you buy and become familiar with Ecuador.