Property purchase costs in Ecuador compared to Latin America
Ecuador: Round trip transaction costs (%).
The total cost of buying and then re-selling a residential property, including all costs (except the sale price itself), expressed as percentage of the property value.
- The property is purchased by a non-resident foreigner in the country where he/she is buying
- The property is worth US$250,000 (250,000 for Europe)
- The property is paid in cash
- The property is a condominium located in a major city
- The property is not newly-built
- The property is bought from an individual and not a developer or real estate holding company.
Transaction costs can be broken down into four major cost areas:
- Registration costs
- Real estate agent fees
- Legal fees
- Sales and transfer taxes
Other incidental costs (survey fees, residency permit cost, or company setup costs), are not included in our calculations. In most cases value added tax (VAT) is not included, because our figures reflect the purchase of old, not new, properties.
Costs paid by buyers and sellers vary widely. Agents and lawyers costs are often negotiable. Buyers of expensive properties often pay proportionately lower agents fees. For the full spectrum of possible transaction costs see the Country | Buying Guide.
For fuller details see the Data FAQ.
Source: Global Property Guide Research
There are no house price statistics for Ecuador, and its statistical data is generally weak. The Instituto Nacional de Estad'stica y Censos is an ill-organized collection of stale data. The Banco Central del Ecuador is better, but alas has few downloadable time-series (data tends to be in 'press release' format). The monthly report on inflation is well presented.