• Last year, the total properties sold by Engel & Völkers in Portugal reached 80 million euros
• The average price of the properties sold was half a million euros
• For the first time ever, the total amount of commission from worldwide sales exceeded 700 million euros
Lisbon, January 22nd, 2019. Engel & Völkers, a German multinational company specialised in the brokerage of luxury real estate, achieved a 4.1% increase in property sales in Portugal last year compared to the previous year, thus reaching 80 million euros. The average price of properties sold by Engel & Völkers in the national territory during the year 2018 was half a million euros.
"Portugal will be one of the firm's top priorities in 2019," said Juan-Galo Macià, CEO of Engel & Völkers for Spain, Portugal and Andorra. At the end of last year, Engel & Völkers recruited and trained a large number of estate agents, with the aim of identifying and training the best talents to lead the market for luxury real estate brokerage.
"The decision to create an MC in Lisbon, which will be inaugurated during the first half of the year, reflects the firm's strong commitment to the Portuguese market and the potential for expansion. We want to continue to grow in Portugal and the implementation of this new business plan in Lisbon is another strategic step we are taking towards the leadership of the highest segment of real estate. It will be a revolution in the real estate mediation market," added Juan-Galo Macià.
Record Results at Global Level
In 2018, the total commissions on transactions carried out by the Engel & Völkers Group increased by 9%, totalling 728 million euros, compared to 667.8 million euros in 2017. "This record turnover reflects our global expansion strategy," said Christian Völkers, the founder and CEO of Engel & Völkers AG.
High Demand for Commercial Real Estate
The commission amount of 122 million euros obtained in this business area represents an increase of more than 3% in relation to the previous year. This stems from a high level of demand for apartment buildings and multi-purpose buildings, which consist of both properties and offices and account for about three-quarters of the total turnover.
Perspective: new investments
Engel & Völkers continues to expand its business in the most attractive real estate markets in 2019. The firm operates in more than 800 locations on four continents and has more than 11,000 employees representing the brand. "This year we want to further strengthen the franchising business as well as our Market Centre activities. In addition to these core areas, we will continue to invest in digitisation and new segments in the future," said Christian Völkers.
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