Real Estate in Quito, Ecuador
Last updated on Jul 04, 2023
Summary: The most desirable neighborhoods in Quito, Ecuador are La Floresta, La Carolina, El Condado, La Mariscal, and La Pradera. The average cost to buy a nice 2 bedroom home in Quito is around $150,000 USD, while a nice 3 bedroom home can cost around $200,000 USD. These properties typically include modern amenities such as air conditioning, high-speed internet, and security systems. Foreigners are allowed to purchase property in Quito, however, they must obtain a visa and register with the Ecuadorian government. Expats should search for a home to buy in Quito by researching the different neighborhoods, looking at listings online, and visiting the area to get a better feel for the area. It is also recommended to hire a real estate agent to help with the process.
How do I find a place to live in Quito?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"Not easy... I was offered a teaching job at PUCE , then denied it when my papers came through very late but I knew the barrio where I wanted to live -- however, it has gone up in price and there were few options available. I walked around in the neighborhood I wanted to finally settle in and found what I need. This is a HIGHLY RECOMMENDED way to discover a good apt in Quito," remarked one foreigner who made the move to Quito.
"One way to find a place to live in Quito is to use online resources such as Craigslist, Facebook Marketplace, and websites like olx.com. Additionally, you can consider contacting local real estate agents if you would like assistance in your search. Looking at local newspapers and digital listings can also be a great way to find an apartment in Quito. Finally, if you’re looking for an affordable option, you may find luck in negotiating with local landlords directly," explained one person living in Quito, Ecuador, Ecuador.
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What is a typical expat home or apartment like in Quito?
"A typical expat home or apartment in Quito is usually modern and spacious, with large windows offering beautiful natural light and magnificent views of the surrounding mountains. Many apartments come with contemporary, open plan designs and full kitchen amenities, whereas others feature colonial-style buildings and high-ceilinged apartments with Spanish-tiled courtyards. In addition, most expat homes and apartments offer high-end security systems and off-street parking, making them very safe and secure," remarked one member in Quito, Ecuador.
"A "suite" or two rooms and bath, lovely little place, good dueno and furnished nicely with condominio fee monthly it's $460. in the swanky neightborhood of Gonzalez Suarez. Noise here is bad," explained one expat living in Quito, Ecuador.
With Offices in BOTH Ecuador and the US, Ecuador Visas with Attorney Sara Chaca is the No. 1 Visa Law Firm for Your Move! Specializing in Ecuador Residency Visas plus converting from Temporary to Permanent Residency, Containers, Real Estate Closings, Wills and Estate Planning, Driver Licenses, Opening Businesses & Citizenship!
Click connect to have our partner contact you via e-mail and/or phone.
With Offices in BOTH Ecuador and the US, Ecuador Visas with Attorney Sara Chaca is the No. 1 Visa Law Firm for Your Move! Specializing in Ecuador Residency Visas plus converting from Temporary to Permanent Residency, Containers, Real Estate Closings, Wills and Estate Planning, Driver Licenses, Opening Businesses & Citizenship!
Click connect to have our partner contact you via e-mail and/or phone.
What is the average cost of housing in Quito?
If you are thinking about moving to Quito, cost of living in probably a key consideration. Expats commented about the cost of housing:
"The cost of housing in Quito varies greatly depending on size and location. However, both short-term and long-term rentals tend to be on the lower end of the international market, and for those who are looking for a more permanent living situation, rent for a one-bedroom apartment can range from $200 to $500 per month. Longterm rental costs for a two-bedroom apartment range from $500 to $1,000 per month," explained one expat living in Quito, Ecuador, Ecuador.
"Much lower. I bought an apartment for under $30k and I have rented another for just $150 a month," said one person in Quito.
Should I buy or rent a home in Quito?
If you have not spent a lot of time in Quito, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"Buying a home in Quito could potentially be a great investment, as the city is known for its strong real-estate market and growing economy. Purchasing a home in Quito can also be a good option if you plan to stay and live in the city long-term. Renting a home in Quito can be a great option for those who need a bit more flexibility or are only intending to stay in the city for a relatively short amount of time. Ultimately, whether you decide to buy or rent a home in Quito comes down to your personal preference and situation," explained one person living in Quito, Ecuador, Ecuador.
What do I need to know when buying property in Quito?
When we asked expats what advice they would give a foreigner before buying a property in Quito, they said:
"1. It is important to research the area you are interested in buying property in, to ensure it is safe and has the amenities you need. 2. It is also important to understand the local laws and regulations regarding property ownership, as well as any taxes or fees associated with the purchase. 3. It is recommended to hire a local lawyer to help you navigate the process of buying property in Quito, as they will be familiar with the local laws and regulations. 4. It is also important to understand the local currency and how it affects the cost of the property. 5. Lastly, it is important to understand the local real estate market and the current trends in the area, to ensure you are getting a good deal on the property," explained one person living in Quito, Ecuador.
Are foreigners allowed to own property in Quito?
When we asked expats what advice they would give a foreigner before buying a property in Quito, they said...
"Yes, foreigners are allowed to own property in Quito. According to Ecuadorian law, foreign citizens are allowed to purchase and own real estate in the country, as long as they have a valid visa and a cedula, which is an Ecuadorian identification card. Foreigners are also allowed to lease property in Ecuador, but they must obtain permission from the Ministry of Foreign Affairs before doing so," explained one person living in Quito, Ecuador.
What appliances are typically included in a rental?
We asked foreigners in Quito what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:
"In Quito, rental properties typically include a refrigerator, stove, oven, washing machine, and dryer. Additionally, some properties may include a dishwasher, microwave, and other small kitchen appliances," said one in Quito.
Additional Information about Searching for a Home in Quito:
We asked foreigners in Quito what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included...
"Expats can search for homes in Quito by looking online for real estate listings, contacting local real estate agents, and searching for rental listings on websites such as Airbnb and HomeAway. Additionally, expats can look for housing options in local newspapers and magazines, or ask friends and family who have lived in Quito for recommendations," said one person in Quito.
About the Author
Joshua Wood, LPC joined Expat Exchange in 2000 and serves as one of its Co-Presidents. He is also one of the Founders of Digital Nomad Exchange. Prior to Expat Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.
Additional Information:
- Expat Guide to Quito
- Healthcare & Health Insurance in Quito
- 7 Tips for Living in Quito
- Pros & Cons of Living in Quito
- Tips for Expats Driving in Quito
- Cost of Living in Quito
- Health Care in Quito
- Discover the Best of Quito
- Healthcare & Health Insurance in Ecuador
- Best Places to Live in Ecuador
- Pros and Cons of Living in Ecuador
- Pros and Cons of Living in Ecuador 2024
- 2024 Guide to Moving to Ecuador