Friday, September 23, 2011
Dear Reader,
Last Friday I introduced you to PPD. When the Pathfinder team gets together we need a quick, efficient way to assess opportunities. That way we can get you in on the best opportunities with as short a lead time as possible. To remind you…
We look for Places of outstanding natural beauty that have remained undiscovered or undervalued. Or a place where something…like a new highway for example…is set to make a location more accessible, and therefore more desirable…which makes real estate there more valuable.
Then we drill down to find a unique Project that has some special attributes. This special attribute could be a skilled development team…or a natural attribute like the best beach.
Finally, there has to be a special Deal for readers of these dispatches. A discount….interest-free financing or really strong early-in pricing.
Plug the Jama Campay project into my PPD and it glows green.
The Place
You’ll find Ecuador’s nicest stretch of coast on its north coast between Canoa and Pedernales. Steep forest-clad hills rise steeply from the rocky shoreline. The ocean views from these hills are awesome. Warm breezes keep the temperatures comfortable. Monkeys howl and brightly colored butterflies dance among the leaves and grasses.
The weather and topography here are unlike anywhere else in Ecuador. To the south, the coast is mostly covered with dry brown scrub and thin vegetation. North of here it turns muggy, buggy and wet. But in this spot you get plenty of sunshine… and enough rain to keep the forest that blankets the hillsides a rich green.
Our beat is to find the crème de la crème. The best beach on the finest stretch of coast. The finest building on a city block.
As a reader of these alerts you will know that until recently, this stretch of coast was difficult to get to. But last year the new coastal road from Quito to Pedernales was finished. (Pedernales is just thirty minutes from Jama Campay.) This cuts the drive time from Quito to Pedernales in half, to three-and-a-half hours. So access is easier now, and more of Quito’s residents can come here for weekends and vacations …and it’s likely to attract more foreign tourists, too.
The Project
Perched on a little cliff a few steps above a wide sandy beach, around 10 miles north of Jama, you’ll find Jama Campay.
Ocean-blue views stretch to the horizon and south along the coast. The beach offers ample space for swimming and volleyball…and there’s verdant nature all around for hiking, biking and boating.
Jama Campay is a project of 90 homes. Ninety condos will follow once they get their approvals. These 1,800 square foot, three-bed, three-bath homes are spacious and comfortable with large open-plan kitchens and living areas.
These homes at Jama Campay rent for $150 to $200 per night to the high-end Quito market. And they are in demand. This is where wealthy people from Quito come to vacation or for the weekend. These locals buy based on trust and reputation. It’s always worth paying attention to where the locals invest—or don’t. This isn’t a “gringo project,” but I expect more foreign buyers to come.
The Deal
With a start price of $120,000 for one of these 1,800-square-foot homes, that’s less than $67 per square foot. You’ll find it hard to get a bigger bang for your buck—anywhere.
Francisco is standing by to send you an information pack.
Ronan McMahon
P.S. If you’d like to see Jama Campay…and do your own PPD check…Francisco runs chill weekends. You can come and spend a couple of nights in one of the homes in Jama Campay…explore the little beach towns close by…see the potential with your own eyes…and find out if this place is the sweet spot for your second home. Contact Francisco here to find out more.
You might also be interested in:
Chill out on Ecuador’s Pacific Coast
Posted Under:
ecuador, beachfront, appreciation potential, affordable, real estate opportunities
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