The Engel & Völkers Group increased its overall commission revenues by 9 percent in 2018 to 728 million euros (2017: 667.8 million euros). This represents yet another growth in turnover for the globally operational real estate company in the past financial year. “This record turnover of more than 700 million euros reflects the success of our global expansion strategy,” said Christian Völkers, Founder and CEO of Engel & Völkers AG.
At 22 percent, Italy generated the highest growth in revenues in the Residential division. One of the reasons for this was the opening of numerous new locations. Engel & Völkers also continued its expansion course in North America, increasing turnover by more than 20 percent. In the DACH region, the company grew its commission revenues by approx. 10 percent over the previous year. Spain and Portugal recorded growth of approx. 4 percent.
Commission revenues of 122 million euros mark an increase of more than 3 percent compared to the previous year. This result is due to the high level of demand for apartment buildings and multi-purpose buildings, which combine apartments and offices. They account for approx. three quarters of the overall turnover.
Engel & Völkers is continuing its expansion in desirable real estate markets in 2019. The company is now operational in over 800 locations spanning four continents and has more than 11,000 people operating under the brand. “This year we intend to further strengthen the franchise business and our Market Center operations. In addition to these core business fields, we will continue to invest in digitalisation and new segments in the future,” said Christian Völkers.