Cuenca property is hot.
Actually smoking, baby.
But not just due to an increasing demand from foreign retirees, but also locals who for the first time since 2009 have access to reasonably priced loans form their local Social Security system, the BIESS.
According to Marco Rodriguez, the president of the Realtors association in Cuenca, the properties, particularly the condos on the Tomebamba River, Ordonez Lasso Avenue and Gran Colombia Avenue have increased in value year on year by a whopping 40%.
I’d agree, from my own market investigations, it seems most foreigners prefer to buy or rent right along the river, on the outskirts of the old town (not right in it), or along the upper class areas of Ordonez Lasso and the Gran Colombia.
Now, the president of the realtors association stated in an article by the Comercio recently the increase in these areas was due to foreign demand.
This is where most foreigners in Cuenca prefer to be.
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