Despite a recent downswing in the market, Ecuador’s low cost of living and access to affordable health care make it a popular destination for North Americans.
From 2006 to 2014, the market in Ecuador was “booming,” Mr. Marchant said. The country was regularly appearing on lists of top off-the-beaten-path second-home destinations, based on the relatively low prices and the warm climate. While home sales data is sparse in Ecuador, prices in some neighborhoods have more than doubled in the last 10 years, agents say.
Do you have less money saved for retirement than you’d hoped? Is your pension or Social Security check too small for you to live out your retirement years comfortably in the United States? Or maybe you have saved enough, but want to do something more exotic than strolling the back nine in your newfound free time.
In Ecuador, your money will stretch much further – perhaps even allowing you to afford things that would be considered luxuries in the United States – and you can spend your days strolling cobblestone streets while admiring Spanish colonial churches and views of the Andes.
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.
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