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Engel & Völkers has grown by 60% in Portugal registering new world record

• Sales in Portugal reached 39.9 million euros in the first half of this year

• The average selling price of properties is 596 thousand euros

• Commissions grew by more than 50%, reaching 1.6 million euros

• Globally, results showed sales increase of 31%, reaching 300 million euros

The German group, Engel & Völkers, one of the world leaders in luxury real estate, has a 60% increase in sales in Portugal in the first half of this year. 

When compared to the same period last year, it has reached 39.9 million euros against 24.9 million euros registered in the first half of 2016.

The average selling price of properties by Engel & Völkers in the national territory in the first half of this year was 596 thousand euros, which represents an increase of 3% over the same period of 2016.

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In addition, sales commissions in the national territory registered a significant increase of more than 50% over the previous year, reaching 1.6 million euros against 1 million euros in the previous year.

Juan-Galo Macià, CEO of Engel & Völkers Spain, Portugal and Andorra, says that "the good results registered in Portugal in the first half of the year confirm the strong position of the Portuguese market and the great initiative of the company's representatives and offices in Portugal".

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Photo: Juan-Malo Garcia, CEO Engel & Völkers

World record-breaking results for the first half of the year 

In the first six months of this year, the German company, Engel & Völkers, was able to increase the result of its worldwide commissions once again.

They raised a total of €300.6 million from €229.4 million, which is an increase of 31% compared to the first half of last year.

"The enormous success of the brand's offices in key markets is just one of the factors that contributed to this strong growth," says Christian Völkers, Founder and CEO of Engel & Völkers AG, adding that "a strong contribution to results came from residential market in North America, which account for about a quarter of the firm's total results. "

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Photo: Christian Völkers, Fundador and CEO Engel & Völkers AG

The company's business division - which includes commercial areas, offices, hotels, and industrial buildings - increased profits by 29% to €43.8 million.

In relation to the second half of this year, Engel & Völkers expects to continue to grow in all its business areas. "We are on the track to achieve the result of around 560 million euros by the end of this year," says Sven Odia, CEO of Engel & Völkers AG.

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Photo:  Sven Odia, CEO Engel & Völkers AG

About Engel & Völkers

Headquartered in Hamburg, Germany, Engel & Völkers is a world leader in luxury real estate, specialising in sales and rentals of premium residential properties, commercial real estate, yachts, private jets and executive aircraft. Founded in 1977, the brand is present in 32 countries on four continents, with more than 700 locations. Engel & Völkers offers a range of personalised services to private and institutional customers.

It has more than 9,000 employees who specialise in all types of real estate deals, leasing, sales, consulting and valuations. Engel & Völkers Academy, where intensive training programmes are delivered to ensure a high level of quality in customer service, is among the main factor that contributes to the success of the firm.

Engel & Völkers in Portugal

Engel & Völkers is a network of real estate agencies focused on the luxury market. It has been present in Portugal since 2006. It currently has 12 branches - Aveiro, Albufeira, Parque das Nações (Lisbon), Restelo ( Lisbon), Cascais, Comporta, Estoril, Sintra, Quinta do Lago, Lagos, Vilamoura and Portimão.

The company has a special plan in progress that foresees the expansion of the network throughout the country by 2018. 

The range of property offers for sale in Portugal currently amounts to more than a thousand.Because of the authenticity of the country, being able to play elite sports, in particular golf, its climate, and easy access to the rest of Europe, the main buyers of properties in Portugal are Norwegians, French, British, Belgians, Swiss and Germans.

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