Engel & Völkers has opened a Metropolitan Market Center (MMC) in Vienna. Around 400 square metres of office space will now be dedicated to the brokerage of prestigious residential property and commercial real estate throughout the entire city. The MMC is situated at a prime location in the 1st district, directly opposite the Vienna State Opera. “The aim of this brokerage concept is to precipitate a marked expansion of our market position, thereby rising through the ranks to become one of the leading property service providers in Vienna as well,” said Christian Sommer, Managing Director of Engel & Völkers Vienna. Engel & Völkers has been successfully operating in Vienna with the brokerage of residential property and commercial real estate since 2009.
“Vienna is a very important market for us. The metropolitan region is witnessing an enormous growth in population and this brings with it a growing need for real estate.” Christian Sommer
“High-end properties in this market are also deemed a desirable form of investment amongst investors around the world. Our international network means that we can support our clients specifically in their search for investment opportunities in Vienna.”
The most exclusive addresses in the country include the 1st district with its buildings listed for their historical significance. The highest priced residential units are located on Tuchlauben, where very exclusive penthouses are currently commanding prices of up to 30,000 euros per square metre. Other sought-after locations are the inner districts and the mansion quarters in the 13th and 19th districts.
Optimum realisation of market potential
The MMC Vienna has capacities for up to 120 sales advisors. “Each advisor operates within a fixed submarket of the metropolitan area. This enables faster growth and optimum realisation of the market potential,” said Mr. Sommer. In addition to a central office space, the concept also envisages the building of several property lounges for establishing contact with prospective clients in strategically important locations around the city. The former Central Vienna residential property shop has already been turned into such a lounge, with two more scheduled to open. Engel & Völkers introduced the MMC concept in 2013. MMCs have already been successfully established in Barcelona, New York and Bogotá.