In 2009 many real estate agents in Tenerife closed their doors due to lack of buyers of apartments or other residential developments.
The volume of sales had slowly but steadily began to decrease since the end of 2007.
The drop in sales of apartments in Tenerife has meant that most of the real estate agents closed their doors forever.
Some estate agencies started closing their companies since 2007 and now, the end of 2009 is to reach historic lows for the last 15 years regarding the number of estate agents that are still operational.
Only those real estate agencies that have adopted high standard technology used to advertise their properties for sale had managed to survive the crisis, yet hardly.
However, quarterly investment turnover in European commercial real estate markets has stabilized, ending a trend of seven consecutive quarters of declining transaction volumes.
It is expected transaction volumes to pick up also in Spain moving into the second half of the year.
Tenerife remains one of the top travel destinations in Europe, so an increase in the volume of property sales should be imminent.
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