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Guayaquil, Ecuador

Real Estate in Guayaquil, Ecuador

By Joshua Wood, LPC

Last updated on Jan 03, 2023

Summary: The most desirable neighborhoods in Guayaquil, Ecuador are Las Penas, Urdesa, Samborondon, and Kennedy. The average cost to buy a nice 2 bedroom home in Guayaquil is around $100,000 USD, while a nice 3 bedroom home can cost around $150,000 USD. These properties typically include modern amenities such as air conditioning, a fully equipped kitchen, and a private balcony or terrace. Foreigners are allowed to purchase property in Guayaquil, however, they must obtain a visa and register with the local government. The best way for an expat to search for a home to buy in Guayaquil is to use a real estate agent or search online for listings. It is also important to research the area and the local market to ensure that the property is a good investment.

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How do I find a place to live in Guayaquil?

We asked expats how they chose their neighborhood and found a place to live. They answered:

"Researching and finding a place to live in Guayaquil is a challenging but possible task. There are a number of options available, including short and long term rentals, as well as purchasing property. You can search online for places to rent or buy, or you could find real estate agents that can help you explore options in the city. Additionally, there are many neighborhoods and areas in Guayaquil you can research to understand their unique amenities and offerings. It is recommended that you visit a few of these areas and get to know the city before making a decision. Additionally, asking around online or in person can be a great way to gather local knowledge that may help you make an informed decision on where to live," remarked another foreigner who made the move to Guayaquil, Ecuador.

"Fortunately, my company hired a relocation firm. Sanborondon is the upper class, safe, and happening nearby suburb of Guayaquil. It was almost a given that I would live there as an expat with Company-provided housing. The Company also hired a realtor for us who helped with our search options (furnished, gated community, 3 bdrms, spacious, pool). Newspaper ads weren't very helpful at all. Word of mouth or realtors are the way to go," explained one person living in Guayaquil, Ecuador.

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What is a typical expat home or apartment like in Guayaquil?

"Expat homes and apartments in Guayaquil tend to have modern amenities and decor, which can include air conditioning, spacious bedrooms, and full kitchens. They are often located in newer developments and are well kept. Public transportation links are often close by, making the area convenient for commuters. Expats can choose from a variety of housing options, from renting an apartment in a gated community to buying a single-family home in a suburban neighbourhood. Many expat apartments come with access to community amenities such as a pool, sports court or even a gym," remarked another foreigner who made the move to Guayaquil, Ecuador.

"I live in an apartment within an 8 unit building (tower) within a gated community of about 20 towers. Ideal mix of privacy and neighborly acquaintances. I don't know what the house/apt mix is, but I would imagine expat families with kids go for houses (in Sanborondon, Los Ceibos, or Via la Costa) and expat singles and couples go for apts. The houses in Sanborondon are usually huge, expensive, and not many to rent," explained one person living in Guayaquil, Ecuador.

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What is the average cost of housing in Guayaquil?

If you are thinking about moving to Guayaquil, cost of living in probably a key consideration. Expats commented about the cost of housing:

"The average cost of housing in Guayaquil is dependent on the type and quality of housing, but in general, prices range from moderately affordable to high-end. Rentals vary greatly, with smaller spaces and apartments in the more affordable range while larger houses with luxury amenities may cost significantly more. Overall, housing costs in Guayaquil have been generally stable, although there are occasional fluctuations in market value," explained one expat living in Guayaquil, Ecuador, Ecuador.

"The cost of housing in Guayaquil, can vary greatly depending on the area. Generally, rental prices are fairly low compared to costs in other Latin American cities, while the purchase of property is more expensive. Affordable studio and one-bedroom apartments or houses can be found in neighborhoods like Urdesa, Samborondón and Estero Salado, but in more sought-after areas, such as Kennedy Norte or La Libertad, prices are usually higher," said another person in Guayaquil, Ecuador.

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Should I buy or rent a home in Guayaquil?

If you have not spent a lot of time in Guayaquil, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:

"Buying a home in Guayaquil can be a good option if you plan on staying in the city for a long period of time. With historically low interest rates, the cost of financing a home can be quite affordable. If you are new to the area and still unsure of where you want to settle down, renting a home can be a more attractive option. Renting also requires fewer upfront costs and more flexibility as you get to know the city. Ultimately, it depends on your individual situation and your goals for the future," remarked another foreigner who made the move to Guayaquil, Ecuador.

"Buying a home in Guayaquil is likely to be the better choice in the long run. Purchasing a home often leads to financial savings in the form of equity and possible tax deductions when compared to renting. Additionally, long-term home buying provides more security. Buying a home in Guayaquil could also be a sound real estate investment, with property values often climbing steadily. On the other hand, renting a home in Guayaquil may be the right choice for those who prefer flexibility. With renting, residents are not tied down to one property and can move elsewhere according to their needs. As with any major decision, researching the pros and cons can help you make the best choice for your individual situation," explained one person living in Guayaquil, Ecuador, Ecuador.

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About the Author

Joshua Wood Joshua Wood, LPC joined Expat Exchange in 2000 and serves as one of its Co-Presidents. He is also one of the Founders of Digital Nomad Exchange. Prior to Expat Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.

Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.

Guayaquil, Ecuador

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