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Posted at 3:26 pm in News

Increasingly, real estate professionals who believe that in the Canary Islands the fall of prices in the residential sector already has bottomed, although the shops will have to moderate further. In fact, low rent has suffered a substantial fall, being non-existent sales. This is due to the bad situation facing the commercial sector. In fact, it is increasingly common to see premises empty in downtown streets of Santa Cruz de Tenerife or Las Palmas, where before, if it closed a business, soon opened another in its place. Simply that there would offer in the known santacrucera Castle Street, a couple of years ago was absolutely unthinkable. Juan Manuel Lopez, managing director of the real estate known in Fuerteventura, El Rincon property says in this regard: an immediate recovery is not foreseeable if it does not improve employment and funding reaches buyers with fluidity. Apparently selling prices have not dropped yet sufficiently to attract investors who acquire premises empty for exploitation in rent.

The urban lawyer, Rafael Linares, estimated that it would be very positive that through municipal ordinances, will ban progressively the implementation of business in height: If among others, health business of all kinds or various professional offices are established in the empty premises, would absorb much of the current increases, by taking off in parallel to the market as housing older locations, normally with a good situation in the urban areas, precisely where supply is scarce. Do this when the real estate market trends show that the volume of sales of new and used, when in recent years housing is leveling dominated the first. This is primarily due to moderation the price of used flats, which had skyrocketed in the boom years and that was corrected in a greater extent than the new ones. Original author and source of the article.

Written by admin on September 8th, 2015

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