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As far as I know - yes. Did you hear otherwise?

Yes, non citizens of Ecuador can buy and own real estate.

That being said: CAVEAT EMPTOR!  Buyer Beware!

Ecuador does not have the systemized title search of property we are used to back in the USA and many times property is sold to an unsuspecting Gringo by someone who may or may not know that they do not have actual title to sell the land.  In some cases land has reverted back to the Communa (the town government) or to the local indigenous tribal elders making any subsequent sale moot and the "owner" left with no money and no land.  Title Insurance is a new concept here and not many offer it.  This situation applies not only to buying a separate piece of land but many examples exist of "urbanization" projects marketed by fellow Americans selling parcels of future communities. 

ALWAYS hire a lawyer -- a disinterested lawyer -- in other words one who is not otherwise allied with the project, your seller, or anyone representing the seller.

ALSO -- Yes, Ecuador does have licensed real estate agents -- although unscrupulous sellers will tell you they are not necessary for a sale and "anyone" can sell real estate -- this is not quite true and can create a serious disadvantage to you when buying outside the USA.  As an example, the Province of Santa Elena which includes Salinas, Punta Carnero, Montanita and Olon (all quite popular areas to purchase) has only in the last week (Feb 18, 2011) acquired its FIRST and ONLY English Speaking Licensed Real Estate Agent:  Amy Prisco, originally from NY & Massachusetts, who holds an MBA and a Masters in Spanish and now licenses in both New York State, USA and Ecuador, South America (alprisco@gmail.com)  Something to keep in mind when you hear the sales-talk from "not so on the level" land sellers and brokers.

Hope that answers your question.  Come visit!

Susan
TheOceanHideaway.com

Yes you can, and with an investor visa for a land or real estate purchase of $25,000 for single, $26,000 for a couple you can then apply for your residency visa. I have found the easiest visa to get is the corporate visa, which has no restrictions on traveling into and out of Ecuador for the first 2 years as the residency visa does. The only difference is you must renew your corporate visa every year and that will add to the overall cost in the long run. With that being said and I am in no way saying I am an expert, please talk to a well informed Ecuadorian attorney that handles contracts, title searches and visas if you can find one that does it all, if not then hire 2 different ones for different things. As someone said...be careful, due your homework, and due diligence as there are many that will prey on an unsuspecting foreigner...yes even expats and gringos. Moslty there are no licensed realtors and there is NO MLS or other listing agencies to help you compare. I have heard someone is trying to set up something like an MLS here, but have no further information regarding that yet.

I hope that helped.

Larry

The answer is an unequivocable "yes". Period.  Caution and the hiring of experienced professionals, with a proven track record in any industry is essential. It is, as with real estate purchases anywhere, "Caveat Emptor".  There are several real estate Agents in Salinas and elsewhere that are both licensed in Ecuador, as well as speak English. Not just one, as was erroneously stated elsewhere.  Also, keep in mind that licensing in Ecuador is not the same as licensing in the USA - not that the latter's licensing process gives me any comfort and I am in the industry.  Still, in Ecuador, there is no recognized national authority that governs the licensing process, whatsoever. There are virtually no regional, or even local, real estate associations which govern, set guidelines and preside over complaints for the "licensed" agent(s).  It is a great deal like having a "license to kill" and being handed a water gun. Wish it were different...but it is not...and not likely to change any time soon.  Meet several real estate agents, preferably in person. Ask about their career background. Ask about their Ecuadorian real estate practices, such as written disclosure documents (ask to seem them). Ask if they obtain exclusive listings from their clients. Ask if they co-op their real estate listings by sharing them with other real estate professionals. Conduct, in essence, a thorough job interview process and make a judgment that is right for your specific circumstances. Perfect? Nothing ever is...but the best I suggest you can hope to do.

Hector G. Quintana "HGQ"

Welcome on the forum Hector

Thank for this wonderful contribution

Yes, you can. Any help needed, call me=)

Yes, you can. Any help needed, sergej.amosov@yahoo.com

... and with an investor visa for a land or real estate purchase of $25,000 for single, $26,000 for a couple you can then apply for your residency visa.

Please seek legal advice if you take this route. Specifically, the full purchase price may not be applied towards the visa requirement. Just make sure you are informed as there more than a few possible surprises. That said, with competent legal help, you should have no problem.