Satellite image Salinas
Gary, We have a good project that just came on the market in Salinas, the Costa de Oro section, where Gerardo and I were partners in Spondylus 2 a few years ago. We still live in that complex and since we built the project, several other 6 to 8 story buildings have gone up, several luxury (by Ecuadorian standards) single family homes have gone up and a townhouse complex just off beach is well under construction. It is looking like the fastest developing area in Salinas.
Some of the key reasons for this growth are that the area is residential, so it does not have the noise level that the Malecón does. The project is located about 1/2 a mile from the mall, about 1 mile from the Supermaxi plaza, about 1 mile from La Libertad and a few miles from the Salinas Malecón, so it is still convenient to everything, even if one does not have a car.
Satellite image of project start
My brother-in-law just broke ground on a 50,000 square foot (5000m2) plot, which has the front tip of the property fronting the beach. The vast majority of the land in the plot is not beachfront, but the lot does have frontage and a direct access point to the beach. A few of the units will have ocean views. The project is just a few lots down the beach from where I live. We are not partners this time around; we are handling the sales and marketing. The project is called Spondylus Costa de Oro and will have 8 buildings, with 6 units per building. Each building will have ground level parking under roof, and then on floors 1, 2 and 3, two condos per floor.
Start of project.
Several units have been reserved. Right now the pricing is $105,000 per unit, buyer takes their pick of any available unit at that price.
The price applies to Ecuadorian and foreign buyers alike. There is a standard payment plan for cash buyers. For Ecuadorian buyers the developer will accept financing with several different banks, but mortgages are pretty much available only to Ecuadorians.
From what we are seeing, the greater Salinas area is getting virtually impossible to find anything with direct beach access or within a block or two of the beach for around $100,000 so this is a well priced project.
To get plans, pricing, renderings and locations email me at email@example.com
We DO NOT investigate properties when they are advertised so be sure to complete your due diligence. 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, become familiar with Ecuador before you buy.