The Group reports a 25.1 percent rise in commission revenues over the same period in the previous year to 76.7 million euros (Q1 2014: 61.3 million euros). This substantial growth can be attributed to the good economic climate on real estate markets and the strong presence of the brand – especially in Germany, Austria and Switzerland, as well as in key metropolises and holiday regions in the Mediterranean and the USA.
“We are extremely satisfied with the results for the first quarter of 2015. This continued upward trend shows that we are on the right track with our expansion strategy,” said Sven Odia, Co-CEO of Engel & Völkers AG. Engel & Völkers is forecasting continued growth over the remainder of the year. It will be driving expansion forward with the opening of new shops, offices and market centers in strategically important growth markets. The company is currently expanding its workforce on a substantial scale, with a view to meeting the high demand for real estate in these core markets. By the end of the year it is looking to recruit 2,000 new sales advisors worldwide.