Noted as one of the best and cheapest countries in the world for those looking to relocate internationally, this real estate has been appreciating up to 12% in the last five years, according to David Morrill of Cuenca Real Estate. Even though the prices have been appreciating Morrill stated, Prices are anywhere from 50 to almost 100 percent less than what youd pay in Panama or Costa Rica, so its still very reasonable.

The city of Cuenca is a popular favorite among expatriates, as it is one of the larger cities in Ecuador, boasting nearly 500,000 residents. Many foreigners have been led to believe the misconception that Cuenca has very little to offer with its colonial style historic buildings, parks and lakes. However, the reality is the Cuenca is quite a modern city populated with malls, theaters and supermarkets. Expats that are purchasing up land in Ecuador are mostly coming from North America, although lately you can find many from Canada, Europe, Australia, Germany and even New Zealand.

If you are looking for real estate in Ecuador, it would be wise to have an appointment 2-3 days in advance or you may not get to see a Realtor. Realtors in Ecuador work a bit differently than those in the United States. They are awful busy, even during the slowest time of the year and are rarely able to see anyone who just "drops by". Although there are no restrictions on foreign home buyers in Ecuador, it can be difficult to obtain a bank mortgage, it is mostly a cash market. Most brokers do suggest that foreign home buyers that do not speak Spanish should consider hiring a lawyer, although it is not necessary.

The best and safest way to purchase real estate in Ecuador is to only purchase homes that can be registered at the Real Estate Public Registry. According to Bernard Uhe of Huilco Real Estate, When you read about nightmares with home purchases in Ecuador, its all relating to properties that are unregisterable, he said, which frequently has to do with title issues.