Engel & Völkers opens first shop in Rome

Upturn on the property market expected in 2010

Hamburg, 18 November 2009. Engel & Völkers has now started operations in the Italian capital. Since October, the team at the new Engel & Völkers residential property shop in Rome has been offering clients their consultancy services, as well as its expertise in the letting and sale of real estate. Licence Partners Dr. Helio Cordeiro Teixeira and Dr. Alfredo Romano are now managing, together with Team Assistant Dr. Francesca Cerisano, the centre of Rome and the districts of Esposizione Universale di Roma, Parioli and Prati that make up their licence region.

The shop is located in the Via della Pilotta , very close by to all of Rome s major landmarks including the Colosseum and the Piazza di Spagna with the Spanish Steps. Licence Partners Teixeira and Romano are planning to expand the Engel & Völkers network within Rome, having already acquired a second licence for the city. The company is current represented with a total of nine shops throughout Italy.

The global repercussions of the economic and financial crisis have also been felt in Italy over recent months, but the property market is now gradually showing signs of recovery. We expect to witness an upturn on the real estate market in 2010, with significantly more transactions made than during the previous year, predicts Dr. Alfredo Romano. Its great cultural and historical significance has meant that Rome has been least affected of all Italian cities by the crisis, with property prices remaining high in the capital. An apartment in the city is valued at 7,400 euros per square metre on average.

For further information please contact:

Bettina Princess Wittgenstein
Stadthausbrücke 5
20355 Hamburg
Phone: +49 40-36 13 11 20
Fax: +49 40-36 13 11 02

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