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Housing developers demand the prioritization of mortgages
Posted On 26 Nov 2015
About 40 thousand families will need access to mortgage loans during 2016 and part of 2017, according to estimates by the Real Estate Association of Ecuador (Apive for its Spanish acronym).
The representative of the body, Jaime Rumbea, said that currently these people have signed purchase agreements and within a period of 24 months they will need a mortgage loan to fulfill their contracts and receive their homes.
The representative stressed it is necessary that the IESS Bank (Biess), an institution that grants about 70% of housing loans, and private banking prioritize the housing sector for the allocation of resources.
