Real Estate Insights & FAQs

Making Your Move to Cuenca Simple, Safe, and Seamless.
A: Yes. Foreigners enjoy the same constitutional rights as Ecuadorian citizens when it comes to property ownership. You can hold the deed (escritura) directly in your name, and there are no restrictions on owning property near borders or coasts for residential purposes.
A: No, you can buy property while on a regular tourist visa. In fact, purchasing real estate can help you secure residency; Ecuador offers an Investor Visa if the property meets a minimum government-established appraisal value.
A: Once you find a property, the general steps are: making a formal offer, signing a Promisory Note (Promesa de Compraventa) with a down payment, hiring a local notary and lawyer to conduct a title search, and finally, signing the public deed (Escritura Pública) and registering it at the Land Registry (Registro de la Propiedad).
A: Closing costs generally range between 1% and 3% of the property’s registered value. The buyer typically pays the notary fees, registration fees, and transfer taxes (alcabala). The seller usually pays the capital gains tax (plusvalía) and any outstanding property taxes.
A: Yes, we highly recommend hiring an independent real estate lawyer. While the notary officializes the contract, your lawyer is the one who performs due diligence, checks for hidden liens or mortgages, and ensures the title is completely clean before money changes hands.
A: The vast majority of real estate transactions involving international buyers are done in cash via wire transfers. Local banks rarely provide mortgages to non-residents, and when they do, interest rates are high and the paperwork is extensive.

Renting Property in Cuenca

7 specific Questions and Answers (Q&As) focused entirely on renting property in Cuenca, which is a major topic for expats and long-term visitors:
A: Most standard residential lease agreements (contratos de arriendo) in Cuenca are for a minimum of one year. While some landlords may agree to 6-month terms, short-term or month-to-month rentals are less common in traditional neighborhoods and are usually found on platforms like Airbnb.
A: Landlords typically require a security deposit (depósito de garantía) equivalent to one or two months’ rent, in addition to the first month’s rent upfront. By law, this deposit is fully refundable at the end of the lease, provided the property is returned in the same condition it was received, barring normal wear and tear.
A: It varies. In modern condo buildings, water and HOA fees (alícuotas) are frequently included in the rent, while electricity, internet, and gas are paid separately by the tenant. For independent houses, tenants usually handle all utilities. Always clarify exactly what is included before signing.
A: Yes. You do not need a temporary or permanent residency visa to rent an apartment or house in Ecuador. A valid passport and proof of funds (or the required deposit) are generally all that local landlords or real estate agencies require to draft a contract.
A: In Cuenca, an “unfurnished” (sin amoblar) property often means completely empty—sometimes even lacking major appliances like a refrigerator, stove, oven, washer, or dryer. If you do not want to purchase these items, look specifically for “semi-furnished” (includes appliances) or “fully furnished” (amoblado) listings.
A: Many individual houses and older buildings are pet-friendly, but many modern high-rise condo buildings in Cuenca have strict HOA bylaws regarding pets. If you have a dog or cat, it is vital to disclose this early so we can target buildings that explicitly welcome pets.
A: While cash was the norm in the past, most landlords today prefer a direct bank transfer (transferencia bancaria) to their local Ecuadorian bank account. If you do not have a local bank account yet, you can often pay in cash (and get a signed receipt) or arrange an international wire transfer, though wire fees may apply.