Ecuador Real Estate Facts

Quito is a fascinating and beautiful city that lays in a narrow valley jusat a few miles south south of the equator. At 9,300 feet Quito is one of the highest capital cities in the world. Weather is magnificant with means daily high temperatures average in the high 60s and low 70s year-round. The city can still get chilly at night but the weather is usually so perfect that most homes do not have air-conditioning or heating.

The city is vulnerable to earthquakes, and it sits at the base of the Guagua Pichincha volcano, but there has ben no activity since 1999. Luckily, the crater angles away from Quito, offering protection from anything more than ash and mudslides.

Ecuador Real Estate History

Quito used to be called the Paris of South America and it’s most recent history began in 1534, when the Spanish conquistadors marched into what had been an Incan stronghold. The Spaniards began work on the San Francisco church and monastery almost immediately and since Quito has been a city dominated by the Catholic religion and its architecture features a series of gold-gilded churches decorated by the artists of the Quito School, a distinguished tradition that incorporated indigenous elements into European styles.

In 1978, the United Nations Educational, Scientific and Cultural Organization named the city’s colonial sector a world cultural heritage site, and its many churches and colonial buildings are remarkably well maintained to this day.

Modern Quito is a glass-and-concrete city in the north of the city.

Ecuador Real Estate Colonial Quito

Colonial Quito is a very differnt area in the south of the city with many of its streets still doubling as crowded, open-air markets.

An ongoing urban renewal project has moved most street vendors to centralized markets, attracted new restaurants and imposed order, but old Quito retains its colonial flavor.  The area’s working-class atmosphere can add a dimension to its appeal: Unlike cathedrals in Europe, Quito’s churches are used as much for worship as for tourism.

This area was declared a world heritage site by UNESCO in 1978. From this date on, the old colonial buildings, the churches, the squares have all been protected against destruction and degradation. In the afternoon we move to the modern part of Quito and visit the museums at the Casa de Cultura and El Ejido Park, famous for its outside artisan market.

Picture provided by Dr. Andres Cordova Ecuadorian attorney and developer of Ecuador Real Estate in Galapagos.

The government and community are bringing back the residential qualities of colonial Quito which had been considerably lost, by generating an organized and well structured architectonic recuperation plan, providing office space, residential apartments, parking spaces and additional luxury hotel accommodations.

Ecuador Real Estate Beauty

Colonial Quito is a spectacular maze of narrow streets, centennial churches, cobblestone plazas and spectacular views. The trend is setting in and if you are interested this is definitely the time.

Ecuador Real Estate Opportunity

These would be investments are part romantic part arbitrage, but there’s certainly great potential for those who do their homework. There is potential for profit now because real estate development in this classical city is in its early stages.

Quito’s Mayor is the President of the Mayors of the World Association. Working with multilateral credit agencies, he established a private company with city backing to restorate Colonial Quito. This company is a strong ally for those willing to invest, and receives the assistance of the likes of GTZ from Germany and other institutions.

As tourism to Quito and the rest of Ecuador grows, this will bring more dollars to the Ecuadorian economy and help this nation grow in many ways.