Real estate market set to rebound

Better days are ahead for Ecuador’s real estate and construction industry, experts say. In Cuenca, real estate agents say the turn-around is already underway. Ecuador’s Housing and Urban Development Minister Adrián Sandoya confirmed Tuesday that the administration of President Lenin Moreno is calling for a full repeal of the Ley de Plusvalía, or capital gains law, and will not submit a replacement to the National Assembly. Ecuadorians voted overwhelmingly to repeal the law in the February 4 national referendum. The law was enacted in December 2016, during the administration of former president Rafael Correa for the purpose of controlling land…

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