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Engel & Völkers Licence Partner Spain > Blog > Engel & Völkers grows 33.24% in the Iberian Peninsula

Engel & Völkers grows 33.24% in the Iberian Peninsula

  • In 2016, the German company sold properties worth 1.425.95 million euros in Spain, Portugal and Andorra

  • In the rental market, Engel & Völkers increased this number by 43 per cent, amounting to 2,308 rented properties

  • The revenue from commissions received by this real estate company set a new record of over 500 million euros
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Engel & Völkers, the world's leading German real estate brokerage firm, registered a 33.24 per cent growth in Spain, Portugal and Andorra in 2016. The firm managed properties worth 1,425.95 million euros compared to the 1,070.24 million euros achieved in 2015.

This positive growth has turned the Iberian Peninsula into a strategic region for the German real estate company and pushed the creation of a new managerial position to manage the three regions. The new General Manager of Engel & Völkers for Spain, Portugal and Andorra, Juan-Galo Macià, has the objective of maintaining "a sustained growth of 15 franchises per year for the next few years, reaching a total of 150 in Spain."

In Spain alone, the company carried out a total of 2,268 property sales in the last year, which was 27.1 per cent more than the 1,785 recorded in 2015. The average price remained around 600,000 euros, with hardly any changes compared to the previous year.

As for the rental market, the number of homes managed by the firm in Spain increased by 41.6 per cent to 2,218 cases from the 1,566 recorded in 2015. The average price rose by 4.5 per cent in line with the market trend Before the rental boom. Thus, the average monthly rental price in 2016 was 2,277 euros compared to 2,178 euros a year earlier.

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Strong momentum in South Europe and North America

In the other parts of the world, the Engel & Völkers Group saw an increase in its profits by 23.6 per cent, which amounted to 506.3 million euros. This is an increase of almost 100 million euros compared to 409.8 million in the previous year and a new record for the company. "This record is one more example of Engel & Völkers Group's successful expansion strategy around the world," said Christian Völkers, the founding CEO of Engel & Völkers AG.

The South European market, especially Italy, Spain and Portugal, has played a key role in the strong growth of the company. A trend supported by other European markets, notably the DACH region (Germany, Austria and Switzerland) and Belgium, but above all by the successful expansion strategy carried out in North America, where revenues have grown by 55.3 per cent.

More job creation in 2017

With a staff of more than 8,000 employees worldwide, Engel & Völkers plans to maintain its international expansion strategy with the opening of 50 new locations throughout 2017. This growth entails a greater need for skilled workers, "This year, we intend to recruit about 1,200 real estate consultants," confirms Christian Völkers.

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Property on offer in Spain

In recent years, the Spanish property market has become a sector particularly valued by international investors, and it's no surprise. Between 2009 and 2014, property prices in Spain underwent notable changes, and as a result properties are currently being sold at very competitive prices. This situation applies to houses both for sale and to let, as well as to more luxurious properties, making Spain a practically unique case in Europe. The best investment possibilities can be found in Spain's high-end properties.

The high-end sector is the most interesting to the international investor. Many people the world over consider property in Spain, especially in the larger cities, to be some of the best patrimonial assets in Europe (a good example would be a luxury attic in Madrid or Barcelona). And as for the exclusively residential market, those who wish to have a second home in Spain, or buy a main house can also benefit from this situation. Logically, all of these benefits also reach the proprietors who wish to sell their houses.

Living and working in Spain

The quality of life enjoyed in Spain is the result of a unique combination of climatic, geographic, and of course, human factors. Living in Spain is an option that is contemplated by more foreigners every day, and buying a house is the first step towards that. Acclimatisation tends to be fast, and those who move in with the objective of developing business ventures can also count on easier administration when buying a house. Spain's high quality property market paves the way forward.

The type of property which one moves into in Spain will obviously depend on the newcomer's aspirations. Those who head to Spain, whether to live or to work, can enjoy the wonderful surroundings, either in an apartment with a view (of the beach, mountains or the city) or in a house right on the coast. For more information, it can be very useful to seek the advice of an estate agent in Spain, who will analyse the most interesting offers based on the prospective buyer's criteria.

Selling your house in Spain

Selling your house is another option for foreigners who live in Spain. Whether you are coming to the end of your stay in Spain or you just want to get rid of one asset in particular, the services of a reliable and trustworthy Spanish estate agent are essential. These professionals will examine the qualities of the villas in Spain that they want to commercialise, reaching the most advantageous sales agreements possible and getting the luxury properties in question on the market. Little wonder: if anything indicates the current context of the market it's that the role of the agent is basically to close a good sales agreement.

How to arrive in and travel through Spain

Alongside the properties that Spain has available, the country also offers areas of great patrimonial and natural interest. It's worth highlighting the excellent connections by land, sea and air to all the European capitals such as London, Paris, Berlin, Rome, Brussels, and Geneva, and many other European cities are less than a three-hour journey from the main Spanish airports. Those who travel to Spain have airports at their disposal not only in the main cities but also in the majority of the provinces. Another alternative to get around the country is via the complete train network that, on a smaller scale, consists of commuter trains to the inland regions, creating easy access to almost any town and property in Spain.