Previous Story
Easy financing increases expectations in real estate
Posted On 06 Apr 2018
Ecuadornews:
The supply of housing is varied. At the Casa Nueva Habitat 2018 fair, which began last Wednesday and will last until Sunday, one and two-story buildings are offered, with finishes and without them.
Ricardo Baquerizo, president of Expoplaza, said that there are around 90 real estate projects that are available to the public, and that there is expectation in the sector after the repeal of the so-called Goodwill Law and the elimination of the ceiling on profits. “The real estate offer has awakened with this change … projects that had been left aside have been taken up …”.
One-storey homes, for example, with three bedrooms, range between $ 36,000 and $ 86,000 on land from 72 m² to 157 m². Urbanizations like Santiago City, on the road to Daule; and Villas del Rey, La Gran Vittoria and La Joya, on the Samborondón-Salitre road, offer this type of products.
In the two-story houses there are also varieties; In addition to the aforementioned citadels, they are also offered by developments such as Arboletta and Ciudad del Valle, on the road to Salitre; Ciudad Olimpo, via the coast, and Villa Bonita, municipal project on the road to Daule.
The prices of these properties fluctuate between $ 60,000 and $ 185,000; some include double terrain, swimming pools, jacuzzis, pergolas and paving.
Visitors to the fair can also access financing offered by financial institutions such as the Banco del Instituto Ecuatoriano de Seguridad Social (Biess) and Banco del Pacífico.
Efraín Vieira, executive president of the Pacific, explained that for homes from 27 thousand dollars to 70 thousand dollars, the entity offers a financing of 95% of the value of the property, at 4.5% interest, up to 25 years. Meanwhile, for houses that exceed this amount, he said, the interest rate is 7.5%.
Francisco Vizcaíno, manager of Biess, said that since the creation of the entity, $ 2,100 million have been placed in 45,000 credit operations. The bank offers a 6% interest for houses that do not exceed $ 70,000.
Enrique Pita, president of the National Federation of Chambers of Construction, argues that the financing facilities will benefit the sector, “for the good of the country, for the good of the Ecuadorian society …”, and that until December will know how much he recovered.
The Vice President of the Republic, María Alejandra Vicuña, was at the fair and confirmed the Government’s commitment to work with the construction sector, “within the framework of an economic and productive reactivation agenda, where the real estate sector plays a role fundamental…”.
1 million is the housing deficit in Ecuador, said Housing Minister Adrián Sandoya yesterday. (I)
