The Real Estate and rental markets are slow and cold in Ecuador. Why?
There is an oversupply of houses for sale and the demand is diminished and unstable in Ecuador, according to the newspaper El Universo.
https://www.eluniverso.com/noticias/202 … ice=mobile
Moreover, Rents have dropped to 20% in Ecuador, according to real estate consultants involved in the market...
Marcos Armijo Fuentes, president of the real estate franchise Travi Bienes Raíces, affirms that in one of the urbanizations of the Vía a Samborondón as Ciudad Celeste, you can today rent a house valued at $ 180,000 with $ 750 or $ 800 per month. Before the pandemic it cost up to $ 1,200 per month.
"The first thing that the clients that assessed in Guayaquil did during the pandemic was to make agreements to pay what was owed and since the contracts were reformulated with prices down for at least one year . I have had cases in which the reduction has been up to 25%, "says Armijo.
The same in Villa Club and La Joya, located next to Av. León Febres Cordero, in Daule, where there are two-story houses available to rent at a monthly price of $ 300 or $ 400 and before COVID-19 living in them cost $ 500 or $ 600, according to Armijo.
https://www.eluniverso.com/noticias/202 … ice=mobile