In Ecuador, the government has introduced a significant expansion to the Credicasa mortgage plan offered by the Banco del Instituto Ecuatoriano de Seguridad Social (Biess). The financing limit has been raised from $50,000 to $65,000, with the property appraisal value allowed to reach up to $71,504.70, compared to the previous cap of $55,049. This change facilitates access to housing for more families by broadening the scope of affordable housing options available in coastal areas including Samborondón and Durán.

The new interest rate of 2.99% on housing loans is regarded as the lowest seen in Ecuador's financial history, according to Rhonda Cevallos, executive vice president of Ambiensa. This historically low interest rate, combined with the government's enhanced financing parameters, aims to provide greater opportunities for residents to secure homes, particularly for those looking for one-bedroom suites as eligible properties.

In addition to the financial incentives, representatives from various real estate projects outlined over ten different house models that are currently available for qualified buyers. These developments are expected to attract more buyers seeking affordable housing solutions, thus stimulating the real estate market and potentially contributing to economic growth in the region.