After a few years in Ecuador, mostly Quito, here are some places I'd recommend for an average newcomer-expat to consider for buying a property. From most recommended down. Only my opinion, no offense intended.
- Quito Tenis. A nice little upper class area in the North of Quito with a few embassy's residencies. Conveniently located, close to CC Bosque Shopping Center, La Occidental highway, 5 min driving to the Financial Center. Not enclosed, but with security guards at every buiding, I'd say it is one of the few places in Ecuador where you can walk around at night. Prices for new condos from $1200/sq. meter and a little up.
- Bosque. Charming location, almost all properties have a breathtaking view to the north of the city. Eucaliptus forest right behind or around many buildings. Conveniently located right on La Occidental highway, a few minutes walk to the CC Bosque shopping center. You can walk around at night, but not far: almost borders some city's troubled areas. Prices for new condos from $1000/sq. meter.
- Av. República Salvador, between Naciones Unidas and Portugal. On this short, about 1500 feet street, you almost forget you are in the 3dr world. All new condos, charming restaurants and bars. Walking distance to Quicentro and CCI shopping centers, all major banks, Megamaxi. On this street only, it is probably safe to walk at night. Prices for new condos from $1000/sq. meter.
- Cumbaya. A pleasant Quito suburb. Some parts remind me of Long Island, NY (maybe not Hamptons, but nice, clean feel). Nice climate: dryer and warmer than Quito. On my opinion: car is a must if you live there. Only 10-15 min to Quito, but all major banks and stores are right there. Prices are high, as this area historically houses Ecuadorian upper class.
- Around Parque Carolina. Very convenient location. Parque Carolina is a wonderful place (should be avoided after dark). Walking distance to many stores and banks. Many new condos. Prices from around $1000/sq. meter.
- Batan. Another nice area in North-East Quito. Some enclosed residential areas. Batan Alto borders eucaliptus forest of Parque Metropolitano. I'd recommend to have a car living there. Relatively short drive to major shopping spots. Condo prices start from $800/sq. meter.
I would definitely NOT buy:
- Anywhere in Quito South;
- Anywhere in extreme north of Quito.
- Anything that costs $60K or less. I need to explain this... If an Ecuadorian buys a property that costs $60K or less these days, the government gives $5K toward the purchase, so the buyer has to come up with only $55K (if the property costs $60K). For $60K you can easy find a seemingly decent property in Ecuador, however your neighbours would be those who took advantage of the $5K gift, in other words: low-middle or low class. This kind of confused prices: cheap real estate now costs up to $5K more... Many reputable luxury property builders purposefully keep their prices at $65K or more in order NOT to attract low class buyers.
Confusing? I'll explain further if needed, just ask.