Cuenca Ecuador: Apartment building boom for U.S. retirees

Posted on August 29, 2012 • Filed under: Business, Ecuador construction department is a growing trend in this city. Foreign retirees, elderly people and young couples are those who prefer to live in these spaces.
Some sectors, such as Avenida Primero de Mayo, where such development is evident. Between the Three Bridges and the Avenue of the Americas, have been built about 10 apartment complexes of this kind in the past three years.


There are no exact statistics on this trend, but the Chamber of Construction Extended Basin recorded a rebound that began in the late 90’s and has been nurtured in recent years with the arrival of U.S. retirees, mainly. Diego Monsalve, president of the guild, said that selling is a profitable business departments for construction professionals. Monsalve said that the advantage comes from the reduction of costs for the payment of the ground. “The rise in the price of land, makes the builders choose to build homes in the vertical, then the payment is distributed to users who choose to live in the departments,” he said. Read Article

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