The difficulty in owning a home in Cuenca

An analysis by the city of Cuenca has determined that there’s a deficit of over 36,000 homes in the city. The analysis also shows that many families who rent their homes would prefer to own. Their problem, they say, is the elevated prices of the homes and land in the area. Within newer urban neighborhoods, they say that increasing prices make it difficult to afford a new home. For those looking to buy their own home, Banco del Instituto Ecuatoriano de Seguridad Social (BIESS) is one of the main financing sources. Francisco Vizcaino, the general manager of the BIESS Bank,…

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