Considered one of the world’s top retirement destinations, Cuenca boasts a scenic charm and a very welcoming atmosphere with its picturesque cobblestone streets and elegant mansions. As Ecuador’s third largest city, Cuenca is home to roughly 350,000 residents along with over 4,000 expats. The city is extremely walkable and has an abundance of tourist-friendly destinations such as the Parque Abdon Calderon, where expats often gather for conversations over coffee or drinks. Cuenca offers the best of both worlds, with its old world charm enhanced by modern conveniences including 18 state-of-the-art hospitals and four major universities that attract students from all over the world.
The real estate market in Cuenca
View of Cuenca, Ecuador
Cuenca’s real estate market has experienced stabilization recently, after several years of steady appreciation. This can be attributed to the events after the recession of 2008, when a significant number of Ecuadorians returned home after working abroad, mostly in countries like the US and Spain. This caused a housing boom throughout most of Ecuador, especially in larger urban districts such as Cuenca, Quito, and Guayaquil.
Real estate prices in Cuenca are a bargain compared to prices in North America. New expats in Ecuador often use their real estate purchase (which should have a tax assessed value of $25,000 in order to qualify) to obtain their residence visa.
Foreigners also get the benefit of having the same rights to real estate as locals. The purchase process is also pretty straightforward, and can be less tedious compared to buying a home in other countries. When considering a purchase however, be aware that mortgages are not always available, thus, you may need to settle the full purchase price to complete a transaction.
Examples of homes for sale in Cuenca
Here are a few examples of available homes you can purchase in Cuenca:
- A well-designed 3-bedroom, 2.5-bathroom townhouse and office with over 1,600 square feet of space. Features include a private patio, parking, and 24-hour gated security. Price: $117,500.
- A fully furnished 1-bedroom, 1-bathroom condo unit with sweeping city views of Cuenca. The unit is equipped with a spacious kitchen, large closets, and a laundry area. Price: $68,000.
- A stylish 3-bedroom, 2.5-bathroom condo with approximately 1,300 square feet of living space. The property includes a spacious kitchen with granite countertops, an oversized private terrace, built-in closets, and lovely views of the Yanuncay river. The unit is conveniently located close to shopping venues, supermarkets, and El Centro. Price: $139,000.
- A furnished studio unit with panoramic views of the Tomebamba river, and is close to shopping districts and commuter bus lines. The unit comes with a stove, a water heater, and a refrigerator. Price: $45,000.
- A comfortable 3-bedroom, 2.5-bathroom townhouse with 1,500 square feet of space. The unit is equipped with a modern kitchen, spacious bedrooms, and a small garden perfect for al fresco dining. The townhouse is a short distance away from public transportation, and is less than 15 minutes away from the city amenities and attractions. Price: $75,500.
Real Estate, Cuenca Ecuador – Ecuador Real Estate for Sale
For more helpful information on Cuenca’s real estate market, see www.livethelifeinecuador.com/category/estate-sales/cuenca/