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About The Increasing Prices Of Houses For Rent In the Cuenca

Enviado por xelihuda 
About The Increasing Prices Of Houses For Rent In the Cuenca
28-September-2015 05:49
Are you looking for houses for rent in Cuenca, Ecuador or considering Cuenca Ecuador real estate? You need to know the current prices for you to understand if your are being charged the right rental price or not. While the prices will vary in the Cuenca Ecuador Real Estate market depending on the landlord or landlady, knowing the current average will help you know if you are being overpriced or not.

For most expats who are moving to Ecuador for the first time and considering the Cuenca Ecuador Real Estate market, it is highly advised that they rent a home first. While living in your own home is beneficial, you have just moved into a new country and don’t have familiarity with Cuenca Ecuador real estate. You cannot say for certain that one place is where you want to live in for the next few years. If you buy a home in Ecuador immediately, you might find yourself wanting to relocate after a month or so. The neighborhood might not be as perfect as you thought it was. That would be difficult to do if you have a home to sell. When you opt to live in houses for rent in Ecuador, it would be easier for you to pack up and move to a new place.

So what about the prices of the rental homes in the Cuenca Ecuador Real Estate market? Well unfortunately, the prices are going up. However, experts are saying that it is not too bad. The general Cuenca Ecuador Real Estate market may have increasing prices but it is not as much as you would expect. The increase within the city proper averages at $15 to $20 each month. In the suburbs, the increase averages at $5 to $10 per month. Some have reported that the increase in their rent is as high as $50. These rates are usually the increase on a yearly basis.

As you can see,it still depends on where you are renting a home in Cuenca. In most cases, condo units have the highest rental price - but that is because it includes perks like central gas, security guards and other amenities.

What drives up the prices of rental houses in the Cuenca Ecuador Real Estate market?

There are two reasons why the prices of houses for rent in the Cuenca Ecuador Real Estate market are going up.

The first is the higher demand for rental homes. Since most people want to rent instead of buy, there are more people vying for these properties. That limit the options and tenants are forced to accept what the landlord or landlady will charge on the home.

The second reason why prices are higher are because of the foreigners. Sad to say, it is the expats that are also causing the prices to rise. The rental price of houses in Ecuador are significantly lower compared to those in North America. This is why expats do not hesitate to rent homes at $800 a month even if they can be rented at $250 a month.

You see, this affects the rental market in general because neighboring landlords who have heard of the higher rental rate will follow. This will cause a chain reaction of higher rates.

The key to keep the price of the houses for rent in Cuenca low is to make sure that you only agree to rent a home based on its actual value. Do not compare it with the prices back home because they will naturally be different.

It is also helpful if you learn the language so you can negotiate the price of the houses for rent in Cuenca. Your inability to talk to the local in their native tongue will sometimes frustrate you enough to just accept what they are offering you.

Make sure you search for a couple of homes before you make your decision. You can stay in a cheap but reputable hotel first before moving into a rental place. That way, you will be sure that you can get the best value for your money.
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