San Clemente, Ecuador – The New “Gold Coast”
Pristine beaches, adrenaline-fueled activities, and a favorable economic environment are combining to make San Clemente, Ecuador one of the more promising growth locations for investors and expats. This sleepy fishing village of some 2,000 inhabitants could well become part of the next “Gold Coast” in Pacific Latin America.
Ecuador has made dramatic strides to attract expats and investors. With continued improvements to infrastructure and better access to popular coastal areas, interest in the central Pacific beaches promises to increase tourist traffic as well as those seeking investment benefits or an expat paradise.
The Beaches of San Clemente
There are no fewer than seven distinct beaches between San Clemente and the neighboring bluff known as Punta Bikini. Although each one is named separately, they are actually one continuous stretch of unblemished sand.
In addition to the extreme sports that thrive up and down the central Pacific coast, the sands around San Clemente are sun-kissed most of the year, broad, and not crowded; a perfect location for families and those seeking the tranquility of the ocean front.
San Clemente’s Cultural Connection
Visitors to San Clemente also have the opportunity to experience the Manteña-Guancavilca culture. This pre-Columbian civilization flourished in the region from roughly 600 A.D. until the Spanish arrived in 1532-34.
Noted for their skill in raft building and fishing, (much like their modern descendants) the Manteños worshipped the goddess Umiña whose symbol was a large emerald. Umiña was also worshipped in Peru by the Incas; this would appear to show a connection between the two groups.
There are several archeological sites in Manabi where artifacts of the Manteños have been discovered. The most important site is Agua Blanca–believed to be the capital of the Manteña culture.
Located in the Machalilla National Park, roughly an hour’s drive from San Clemente, Agua Blanca is the location of a number of artifacts from these ancient people. Learning about the Manteños and how they lived gives a unique perspective on how San Clemente’s past is shaping its future.
Improving transportation options make getting there less stressful
While there are no international flights directly to the central Pacific, regular flights into Quito have dramatically improved access. With direct flights from Quito arriving at both Manta and Portoviejo, getting to San Clemente has become significantly more convenient. Car or bus travel from either city is a short ride lasting under an hour.
Lower costs make for better budgeting options
While rental properties are limited in San Clemente proper, nearby communities such as Manta or Crucita have a larger selection. Rents outside of metropolitan areas can be as low as $250 per month with utilities averaging under $50 per month; being on the beach can result in higher costs for air conditioning.
As might be expected for a small village, shopping options are limited. Fortunately the larger towns of Manta and Portoviejo are close by and offer many options for groceries and other items.
The Potential Upside for Investors in San Clemente, Ecuador – A Comparison
San Clemente, Ecuador and other beachfront communities on the central Pacific coast today are reminiscent of Costa Rica in the latter part of the twentieth century. Comparing the two regions side by side is a great way to see the possibilities that San Clemente holds for investors and expats looking for new frontiers to conquer.
When the surfing movie “The Endless Summer II” came out in 1994, it introduced Tamarindo and the surrounding beach towns to the rest of the world. The development that followed along the northern Pacific beaches (Playa Hermosa, Playa Flamingo, Playa del Coco, and Playa Langosta) quickly earned the region the title of “Costa Rica’s Gold Coast.”
San Clemente finds itself in a similar situation today. The Manabi province has become a magnet for adventure sports like hang gliding, paragliding and kitesurfing, much like surfing was for Costa Rica.
Centrally located between Manta and Crucita to the south and Bahia and Canoa to the north, this small fishing village is an ideal location for tourist-centered businesses as well as idyllic beach living.
Favorable market values and real estate laws enhance desirability
With so much undeveloped property available, San Clemente’s market is wide open. Additionally, foreigners have the same property rights as native Ecuadorians; in fact, residency is not a requirement to property ownership.
The only limitations on location are those pertaining to the National Security Areas within 50 km of the borders or coastline. Since San Clemente is a beach village, consulting a real estate attorney to ascertain the status of the parcel being considered is strongly recommended.
Since 2000, the U.S. dollar is the official currency in Ecuador. Without having to navigate issues like conversion values, exchange fees, etc., real estate and commercial transactions become much easier than elsewhere in Central and South America.
One example of San Clemente development
Developers have begun to recognize the potential of the San Clemente area for resorts and multi-unit residences. With the Manta airport just a 40 minute drive away, the Vistazul Townhouse project is an excellent example of the return on investment that can be expected.
Consisting of 70 units spread over a 12 acre site, the low density (25% of the property used for structures) maximizes privacy and “green space.” Located next to a new resort, the Parmazul Artisan Spa Hotel, residents also have the benefits of access to hotel amenities as well as the natural beauty of the beach just 200 feet away.
Before You Go, Consider These Facts
For all the promise that San Clemente holds, it is important to remember that it is still a small fishing village with limited resources and infrastructure. Rustic living may not be for everyone, so deciding if modern amenities are necessary is an important first step to take in deciding whether or not to commit time and money.
With very few expats in residence, the primary language for business and day to day living is Spanish. If having to interact in a foreign language is bothersome, this may not be the best option for a retirement mecca or expat escape.
Life moves at a more casual pace in Latin America and in beach communities in particular. Building projects are apt to take longer than planned for and, as a result, can throw off schedules. Dealing with this kind of uncertainty is not something that everyone is comfortable with.
Ecuador’s “Gold Coast” may be the answer for expats and investors who want to be part of something new and exciting. Visiting San Clemente, walking the uncluttered sands, and immersing yourself in village life is the best way to understand if this is the doorway to the next “endless summer.”
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