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Earthquake Concerns Buying Condo

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4/24/2019 15:35 EST

I am considering retirement in Ecuador, and am interested in a coastal area condo. What sort of damage did the condos have in the last big earthquake in 2016?

Are construction standards up to par with the 7+ richter scale earthquakes that are repeatedly occuring?

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4/24/2019 16:22 EST

The Coast - Especially the North Coast is the highest risk Earthquake Zone.
I'd rent instead of buy if you're looking at the coast.
Easy to google earthquake risks maps of Ecuador.

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4/24/2019 19:58 EST

KMARCH...The last big one really did a number on Manta. Our house in Salinas suffered "minor" damage...cracked tile on the floor, tile fell off the wall
( Ecuadorians are known not to be great tilers )...the condo suffered no damage. It seems the further you go south the less intense.

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4/25/2019 11:06 EST

The last really damaging earthquakes epicenter was near Jama and Pedernales on the north coast and did substantial damage all the way to Manta in the south. While just 40 minutes further south along the coast, Puerto Cayo experienced almost no damage. At that time I was living on a shrimp farm about 45 minutes north of Pedernales and saw first hand, the devistating damage.
You never know where or when the next one will strike, whether there will be a some type of sunami after, or what damages there may be.
I have been told that much of the damages to Manta and Pedernales was because in most of the construction there, they are using beach sand for the cement. The salt from the sand rots the rebar at an accelerated rate and can cause the buildings to be less stable in just a few years.
If I were renting an apartment there, I would consider renting only in buildings that are pretty new. I am planning on purchasing a second home in or near Manta very soon as I now live in Guayaquil.
I am not terribly concerned about the quakes. At my age, and with so many other dangers in life, I seriously doubt it will be an earthquake or sunami that takes me out.
As far as whether even the newer construction is up to par of a first world country,,,, I doubt that very much. But then again. Where can you live in the world that is completely safe?

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4/25/2019 12:57 EST

Ask for and read the CC & R s many HOA do not have earthquake ins for the building .it seems not to be the custom here in Ecuador to have insurance . Many times you will not be offered a copy of the HOA C C & Rs. It is not a mandatory law in Ecuador that you are provided with same before you purchase. Many condo owners lost their investment due to the building not being covered by earthquake ins. in Manta. ASK QUESTIONS and ask to see a copy of the policy as well. DONT ASSUME OR BELIEVE ANYONE YOU WANT TO SEE AND READ EVERYTHING FOR YOURSELF.

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