Engel & Völkers grows 46.3% in Spain

  • In 2015, the German company brokered real estate amounting to  1.023,58 million euros
  • It has doubled business in the rental market and increased the number of leased properties by 116.3% to 1,566
  • Commission revenues of Engel & Völkers achieved a record growth of more than 100 million Euros worldwide

Engel & Völkers AG, the leading company in the brokerage of premium real estate, recorded a growth of 46.3% in 2015 in Spain. Engel & Völkers brokered real estate amounting to 1023.58 million compared to 699.25 million in 2014. 

Last year the company made a total of 1,785 buyer and sellers transactions, 66.7% higher than the 1,071 registered in 2014. The average price stood at 616.106 Euros, which represents a decrease of 5.6% from 652.894 Euros in the previous year. 

In the rental market, the number of homes that the company intermediated in Spain increased by 116.3% over the previous year, rising from 724 to 1,566. The average price fell 5.5%, in line with the market trend, with average monthly costs in 2015 being 2,178 Euros compared to 2,305 Euros a year earlier.

A successful expansion strategy

Worldwide, Engel & Völkers Group increased revenues from commission by 36.4% to 409.8 million Euros, representing an increase of more than 100 million Euros. This compares to 300.2 million the previous year and sets a new record in the 35-year history of the company. Christian Völkers, the founder of Engel & Völkers AG, said that, “the Engel & Völkers Group has never before achieved the income figures seen in 2015.

”The central European market, especially Germany, Austria and Switzerland, has been instrumental in this achievement by generating a turnover that was 15.2% higher than that of 2014. This trend is supported by the rest of the European market, notably Italy, Spain and Belgium but, above all, by the successful expansion strategy carried out in North America, where revenues have increased by 133%.

In line with the boom experienced by the tertiary sector of the market, Engel & Völkers has strengthened the sales division to achieve revenue fees of 74 million Euros in this segment, representing a growth of 30.3% from the previous year.

It should be noted that the strong growth of Engel & Völkers, both in Spain and in the rest of the world, has been helped not only by good results in their shops, but in the rapid expansion of the MMC (Metropolitan Market Centre). In 2015 the number of these centres around the world had doubled. 

This innovative concept, created in 2013 and launched in Barcelona, has become one of the pillars of the company’s success. Two more Spanish cities, Madrid and Valencia, have been chosen to continue the strategy by opening a MMC. “We are happy with the success that has been achieved by establishing the Market Centre concept globally,” said Christian Völkers.

Forecasts for 2016

With a staff of more than 7,000 employees worldwide and after opening their 700th location in 2015, Engel & Völkers intends to continue its international expansion by concentrating on the European and North American markets. This growth brings a greater need for skilled workers and Christian Völkers confirmed that the company intends to recruit 2,000 new estate agents. 

This great news about the 2015 results and forecasts for 2016 had very strong repercussions in the Spanish press:

Engel & Völkers

Praça Marquês de Pombal 2
3810-133 Aveiro
+351 234 026 223

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