Ecuador Real Estate and rental prices drop dramatically in 2020

lebowski888 wrote:

There is an oversupply of houses for sale and the demand is diminished and unstable in Ecuador, according to the newspaper El Universo....

Rents have dropped to 20% in Ecuador, according to real estate consultants involved in the market...

Even in a pandemic, it's doubtful rents have dropped to 20 percent.  More likely they dropped by 20 percent as some of the numbers in the Dude's post more-or-less indicate.

cccmedia

We're seeing rent increases and a supply shortage on the coast. Lots of people from Guayaquil and Cuenca are coming here to be in a more rural area away from densely populated cities during the pandemic. I'm guessing this oversupply issue is limited to the cities, while more rural but developed areas are seeing the opposite.

cccmedia wrote:

lebowski888 wrote:

There is an oversupply of houses for sale and the demand is diminished and unstable in Ecuador, according to the newspaper El Universo....

Even in a pandemic, it's doubtful rents have dropped to 20 percent.  More likely they dropped by

cccmedia

Good catch. That's what we get for not double checking a machine translation. Enormous difference

AmeliaAndJP wrote:

We're seeing rent increases and a supply shortage on the coast. Lots of people from Guayaquil and Cuenca are coming here to be in a more rural area away from densely populated cities during the pandemic. I'm guessing this oversupply issue is limited to the cities, while more rural but developed areas are seeing the opposite.

The tourist coast has always had a glut of houses to rent to live in. Most are converted to rooms for day / weekend rentals as it maximises profit. Although things are better now, 10 to 15 years ago you would be hard pressed to find anything at all during the low season