Owners put up houses for sale but there is little demand

When passing the barrier of the first half of the year, the real estate sector remains paralyzed. Consulted representatives say that promises of sale fell between 50% and 60%.

The depression, they claim, is due in large part to the Capital Gains Law announced in 2015 and approved in December 2016, which would have generated a brake on the projects.

MarketWatch, a market analyst firm, indicates that the residential sector is shrinking. 80% of the supply is focused on Quito, Guayaquil, Cuenca, and Ambato, with 800 projects and about 17 thousand houses and apartments, mostly with price ranges of less than $ 150 thousand dollars.

According to the president of Real Estate Brokers of Guayas Isabel Wagner, this has caused the sector to focus on the sale of homes that have already had a first owner but warns that despite the increase in supply, demand does not reach the same level.

“There are many people who want to sell, but there are no people who want to buy,” says the expert. She suggests owners check (lower) the prices. (I)