Expat Community > Ecuador

HGQ2112
Joined 2009
Posts: 1640

Real Estate Report - Crucita

12 years ago

I generally release extremely condensed excerpts from real estate country analysis reports on July 1, 2012, for public consumption. This year, business matters and various personal matters have kept me from being punctual. Utilizing the better late than never theory, I offer them as segmented summaries, with each city having its own thread. I wanted to present them in one Ecuador thread, but it would be huge. Frankly, many people won’t even read them and those that do will likely want to focus on one or two cities. I would say that this format will cause folks to have to “hunt and peck” for data, but I still deemed it the lesser of two evils.

This data is presented only for those who have an interest in their real estate purchase, also being an investment asset. For those just looking to buy a pretty house, no point in reading further. The perspectives shared are not for every buyer. Some have different motivations for their purchase, besides sound investing, and those perspectives should be equally respected.

We have a simple system for rating a locale:

Sell - We recommend selling your asset or portfolio as quickly as possible.
Hold - If you have bought already, hang onto the asset and wait for further market developments. If you have not bought already, then do not buy now, but perhaps begin to look around for future opportunities.
Buy - Means that it is a good time to acquire an initial or additional real estate asset in that sub-market, due to favorable long-term market trends.
Strong Buy - Means that an exceptional market opportunity exists and that the time is right for the immediate consideration of an initial or additional real estate asset acquisition in this sub-market. For those looking at portfolio diversity, spreading assets across “strong buy” markets is advised, prior to focusing on “buy” markets, if investment opportunities is your sole or primary reason for purchasing real estate.

We also employ two trending systems. The first is an upward mobility and downward mobility system intended to dictate if this property market is in an upswing or downswing from the last time we reported on it. Upswing markets will be denoted by an ? and downswing markets by a ?.

Also, we place certain markets “on watch”. This is neither a necessarily good or bad thing, but a caution that a pending review to upgrade or downgrade the market is imminent. We try our best to project whether that review is likely to be positive or negative, but some market dynamics are so complex that this projection is not always 100% accurate. it should be used for guidance and not as statements of certainty.

Without further delay...here is data for the market you selected to view:

Crucita Sell
I see Crucita as somewhat linked to Manta. Generally, when two cities have some linkage, Salinas and Punta Blanca, for example, I seldom adjust the rating of one, without the other seeing a similar adjustment. However, that is just what has happened in the Manta-Crucita dynamic. While, as covered, in the Manta section, the upgrade to “hold” received by Manta for 2012 may be all too brief, Crucita remains a “sell”. In short, prices have been driven up in Crucita beyond anything resembling the evolution of the area economically and with regard to base infrastructure. The run up enjoyed by Crucita was warranted. It served as the perfect “bedroom community”, for those that wanted greater peace and tranquility than that offered by Manta, but also wanted the proximity of the shopping, restaurants and general civilization offered by Manta. Crucita boomed for several years, when it was a steady “buy” rated locale for our clientele. However, it has been marred as a “sell” since then. The residential market exploded, but commercial development, while improved, still lagged significantly. Core infrastructure concerns have not so much worsened, as remained stagnant and without equivalent progress. Unless some pricing sanity returns to the residential real estate market, along with greater advances in local commercial growth and infrastructure evolution, Crucita will continue to trail the Manta market and much, not all, of coastal Ecuador.

Hector G. Quintana
[email protected]
"In a time of universal deceit, telling the truth is a revolutionary act." -- George Orwell, “1984”

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