Engel & Völkers Press
Press section
Welcome to the press section of Engel & Völkers. Here you will find the latest press releases on market reports, exclusive properties, and company news.
Market reports
Premium real estate in Dubai has been a highly desirable asset among international buyers and investors for many years now. Alongside the high quality of life and security on offer, the government has created additional incentives for real estate investments, with new requirements in place for acquiring the Golden Visa in the Arab Emirate. The number of transactions reached a new high in 2023, according to the latest Engel & Völkers Dubai Residential Property Market Report.
Just in time for spring, the property market is showing positive signs of growth once again. A certain reluctance to buy is now giving way to renewed investment activity, while expected interest rate cuts are leading to first indications that a new period of recovery is upon us. Germany’s tourism market is also showing further signs of recovery and, with 487 million overnight stays last year, fell just short of the record figure set in 2019 (495 million overnight stays)*. The ongoing enthusiasm for so-called “staycations” is also reflected in the vitality of the holiday property market in Germany. In spite of challenges facing the economy, rising interest rates and energy costs, second homes in Germany’s most popular holiday regions remain at a stable high. “Holiday properties in Germany remain rock solid in the face of all manner of circumstances; hardly any other market is so resilient. The extreme euphoria at the idea of owning a holiday home, sparked by the pandemic, only levelled off slightly in 2023, as global travel returned to a state of normality. We are registering a continuous stream of interest,” says Till-Fabian Zalewski, CEO of Engel & Völkers for Germany, Austria and Switzerland, who adds: “The reduction in key interest rates expected this summer is also likely to spur on market momentum, where prospective buyers have been reluctant to take the plunge and buy thus far. The resulting stability and the opportunities then open to such clients to plan better could mean that the number of property listings in the most desirable holiday locations becomes scarcer again.”
The high demand from national and international buyers on the Majorcan real estate market continued in 2023, according to the Engel & Völkers Majorca Market Report 2023/24. After the strong catch-up repercussions in the wake of the pandemic years, followed by growing international interest in 2022, the market underwent a correction last year towards a more balanced relationship between supply and demand.
Properties
Paris – the place to be in 2024. This world-class city has captured the world’s attention this year, not only through the Olympic Games but also thanks to the global success of the Netflix series “Emily in Paris”, which has given yet another boost to the city’s international reputation as a highly desirable place to live. Following the adventures of a young American in the French capital, the show has ignited a worldwide craving for the Parisian lifestyle – with significant ramifications on the real estate market. “The neighborhoods that feature prominently in the series have seen a tangible rise in interest, especially in trendy districts like Le Marais and the 16th Arrondissement, and above all among younger audiences,” says Alexis Caquet, Managing Director of Engel & Völkers France. “The Parisian real estate market is now gaining momentum thanks to this media attention, and we expect to see the positive effects fully materialize by Q4 2024.”
A property owned by National Football League (NFL) star Nick Bosa is now up for sale in Fort Lauderdale, Florida. Engel & Völkers has listed the modern boutique condo for 1.75 million US dollars (approx. 1.6 million euros). Cheryl Bosa, Real Estate Advisor at Engel & Völkers Fort Lauderdale and the mother of the professional American football player, is managing the sale. “Nick acquired the condo back in 2019 and used it as a retreat in his hometown for years. Now it is back on the market for the first time,” says Cheryl Bosa, who is a member of the Professional Athlete Advisory Group at Engel & Völkers Americas and specialises in brokering premium homes for top athletes. Her clients include NFL players throughout South Florida. “Their happiness is always my top priority, and I understand how crucial it is that they receive an excellent service standard and the highest level of trust and discretion.”
The iconic villa “Tempe à Pailla” by the celebrated Irish designer Eileen Gray (1878-1976) is now up for sale in the south of France. Engel & Völkers is listing the property on the market for an asking price of 3.5 million euros. The property is located in Menton on the Côte d’Azur and was home to the British painter Graham Sutherland (1903-1980) from 1955 to 1979. “This exciting residence is an excellent opportunity to acquire not only an important piece of design history, but also the place of work of one of the most important proponents of the English avant-garde,” says Marie-Claire Sangouard, Managing Director of Engel & Völkers Market Center Côte d’Azur.
A globally renowned brand is regarded by many as a pledge promising top quality standards. This is just one reason why branded residences are forever growing in popularity and importance worldwide. Branded residences are residential concepts where project developers enter into a collaborative partnership with international luxury brands. Companies operating in the global fashion and automotive industries in particular – including such names as Fendi, Armani, Versace, Porsche, and Lamborghini – are lending their name and reputation to branded residences. Up until now, the majority of these residential concepts have been located in major world cities such as New York, Dubai, Madrid and Barcelona, as well as in internationally sought-after vacation destinations like Marbella and Málaga.
Engel & Völkers is selling the property of Formula 1 star Jenson Button and his wife Brittny Button in Calabasas, California, with an asking price of 7.9 million US dollars (approx. 7.3 million euros). The hacienda-style residence showcases a blend of traditional influences, contemporary design and luxurious finishes. “We renovated Casa Encanto extensively in 2021. We stuck with a tonal palette to create an airy atmosphere with the remodel. Our aim was not to create just a home, but a retreat, providing an oasis of calm in contrast to the bustling daily routine and city life,” says Brittny Button, interior designer and wife of Jenson Button. The property is being brokered by Jaime Krupnick, real estate advisor at Engel & Völkers Westlake Village.
Company news
Engel & Völkers continues to expand its market position in Italy. The opening of a Market Center (MC) in Florence in May marks the strategic entry by the global Group into the third major Italian city. “We currently find ourselves in a period of dynamic market growth, and the intensification of our business in Florence is another important step towards the market leadership in Italy,” says Muhannad Al Salhi, CEO of Engel & Völkers in Italy. “We are developing new licence regions all the time and are heavily investing in the training of our advisors, with the goal of becoming the one-stop shop for premium real estate throughout Italy in the long term.” Engel & Völkers has been operating a MC in Rome since 2015, followed by the opening of a second one in the capital and another MC in Bologna in 2023.
The global real estate company Engel & Völkers is pleased to announce the appointment of Kirsten Best-Werbunat as Director Brand & Communications, effective from 1st June 2024. With over 25 years of solid professional experience, Kirsten Best-Werbunat brings a wealth of expertise to the newly established position. Previously a journalist at dpa and WELT, she most recently served as Managing Director at the communications consultancy FGS Global, where she handled complex mandates in media positioning, change, and crisis management. She also held the role of Media Relations Manager for Germany and Austria at McKinsey & Company, overseeing external communications and brand positioning. In the new position at Engel & Völkers, Kirsten Best-Werbunat will be responsible for Global Brand Management, Global Corporate Communications, managing the company’s own publishing house “Grund Genug,” and leading the Architecture & Design team, which ensures a consistent brand presence across nearly 1,100 E&V shops worldwide. She will report directly to Group CEO Jawed Barna.
Brussels is one of the Engel & Völkers focus markets and demand for property in the Belgian capital and surrounding regions is consistently high. Marick Schippers himself commented as follows: “I look forward to reinforcing the strong market position of Engel & Völkers even further, by delivering consistently excellent standards. Along with the team, our aim is to become the market leader and we intend to offer our partners not only the very best service, but a human perspective in each collaboration.” Marick Schippers has been working under the Engel & Völkers brand since 2016.
Engel & Völkers is pleased to announce the appointment of Muhannad Al Salhi as the new CEO for Italy, effective immediately. He takes over from Tomaso Aguzzi, who is departing the group to pursue new professional opportunities. Muhannad Al Salhi is a highly accomplished manager with extensive sales expertise.
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