Group commission revenues reach 649.5 million euros
The Engel & Völkers Group has increased its total commission revenues by 17 percent to 649.5 million euros in H1 2022 (H1 2021: 565.5 million euros) and looks back on a successful first six months of this financial year. The Group brokered real estate worldwide worth in excess of 19 billion euros, and recorded turnover growth in all markets.
“The desire to invest in homes and quality of life remains strong around the world. Our focus will remain on helping our real estate agents serve their clients in the best possible way through our platform. We are convinced that our investments in the Engel & Völkers brand, in the ongoing training of our agents and in technological innovations will feed in significantly to our future growth – even in these economically and geopolitically challenging times,“ says Sven Odia, Global CEO of Engel & Völkers.
Geopolitical situation impacting market development
In Sven Odia’s view, it remains to be seen how the real estate market will develop in the medium term. This will depend largely on the development of the geopolitical and macroeconomic situation, as well as on fiscal policy decision-making over the coming months. “We do, nonetheless, expect prices to stabilise at their high level, especially in prime locations. On this basis, we are forecasting an increase in revenues for the remaining months of 2022.”
Another significant rise in the number of real estate agents
In addition to the positive revenue trend, the number of real estate agents is also rising steadily, with over 570 more advisors joining the brand in the first half of 2022. “We provide our agents with a global and renowned brand, an international network and a platform that is technically outstanding. This has allowed us to attract yet more market experts once again,” says Sven Odia.
Image: Sven Odia, Global CEO of Engel & Völkers
Source: Engel & Völkers