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Engel & Völkers signs 5 new franchises

On behalf of Engel & Völkers, we are very pleased to announce that on August 25th, 2017, the contract for the concession of 5 real estate licenses was signed for the opening of Engel & Völkers' new franchises in southern and central Spain. These were specifically in the regions of: Torremolinos, Benalmádena, Fuengirola, Granada and Alcalá de Henares.

We wish to welcome Messrs. José Luis Martínez and brothers, businessmen, and professionals to the family of Engel & Völkers as they have a vast experience in different sectors including real estate and construction. We also wish to thank them for their confidence in our business project.
The event was attended by Joan-Galo Macià, CEO of Engel & Völkers in Spain, Portugal and Andorra; Constanza Maya, Engel & Völkers' head of expansion and support, and Isabel Hernández, regional manager.

Spain - 2017-08-28-PHOTO-00002288.jpg

These 5 licenses, which focus on both the Costa del Sol and in the Madrid area of ​​Alcalá de Henares, are located in regions that are experiencing growth, both among foreign tourists and Spanish families who are considering buying a second home to enjoy on their holidays.
Alcalá de Henares is very attractive and has a population of about 200,000 inhabitants. It is located just over half an hour away from Madrid. One of its most important areas is called, Corredor de Henares, which is an important industrial and residential hub on the banks of Henares River and strategically located between the Northeastern motorway and the railway line. It also boasts a network of inter-city buses and metro stations that connect to the towns of Corredor del Henares as well as Madrid.

As for the areas that are located in the heart of Costa del Sol, they certainly have great potential and appeal. There are many reasons that suggest the real estate market in this area is on rebound. The evidence that supports this claim can be seen through the increase in the number of new build projects, the constant increase in property sales as well as the prices of these properties.
Both the residential and tourism sectors offer very good prospects for growth. According to the Madrid Real Estate Exhibition 2017, this trend has been increasing in coastal areas, especially in Costa del Sol, due to the high interest generated by visitors. The rest of tourist and residential areas in coastal resorts are also expected to experience growth.

The pleasant climate, abundant natural landscapes, and good connections, both by train and plane, easily attract the interest of both Spanish and foreign tourists.

But this growth has nothing to do with the one experienced during the "real estate boom" years as newly built properties are now better quality, thus making real estate investment much more attractive. Heavy investments have been made in this area, but property sellers are fully aware that customers' needs have changed and are now much more demanding with the homes they are looking for.
According to data from 2016 Fomento, the number of building permits just in Costa del Sol alone shows a potential real estate market of more than 700 million euros.

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