Cuenca

Cuenca, a UNESCO World Heritage city in Ecuador's southern Andes, is the country's premier expat and retirement destination and its most expensive residential market by land value. Median asking prices sit near $1,230/m² in 2026, with prime apartments on Av. Ordóñez Lasso and around El Centro reaching $1,300/m². Demand surged roughly 32% in 2024 (Plusvalía data), and the market has held firm through national uncertainty thanks to a deep, dollar-denominated expat buyer base. Gross rental yields on well-located apartments run 7–8.5%, among the strongest in Ecuador, driven by long-stay retirees and short-term visitors to the colonial core. Ecuador uses the US dollar (since 2000), removing currency risk for foreign buyers. Foreigners own property on identical legal footing to citizens, no trusts, partners, or licences required, and Cuenca sits well outside the 50km border and coastal restriction zones. A property assessed at roughly $48,200 (100× the 2026 minimum wage) qualifies the buyer for the Inversionista investor-residency visa, a two-year temporary permit leading to permanent residency in about four years. Annual property taxes commonly run under $300. With heritage protections capping new central supply, scarcity supports steady 3–5% appreciation on prime stock.