With effect from 1 October 2016, Georg Petras has held the position of Managing Director of the Engel & Völkers Residential Property Shops in Germany’s Taunus region. The appointment sets the course for further expansion of Engel & Völkers in one of the country’s most exclusive real estate markets. “I am delighted to be taking on this exciting role of responsibility. Together with my highly qualified team I aim to further strengthen our position as market leader in the region,” said Georg Petras.
The experienced property expert has been working with the Engel & Völkers Group since 2010. He will report to Florian Freytag-Gross, Managing Partner of the Engel & Völkers Residential Lizenzholding. Founded in 2014, the holding company is the largest licensee of Engel & Völkers. It encompasses 65 locations across Germany.
High demand sees rise in Taunus house prices
The residential property market in the Taunus region enjoys a consistently high level of demand. The top residential locations in the region include Bad Homburg, Königstein, Kronberg and Oberursel. Prospective buyers are interested in land plots with good development potential, substantial mansions, detached family homes and freehold apartments with upwards of three rooms. Key criteria when purchasing a home here are contemporary fittings, a superior building fabric, and a contemporary room layout. It is primarily families who are drawn to this area close to Frankfurt. They are attracted by the high quality of residential living, the proximity to nature, and the excellent transport connections to the financial centre Frankfurt with its international airport.
The clear lack of availability in the face of high demand for residential property has led to a sharp increase in prices in prime locations over recent years. In the Taunus region, exclusive homes are currently reaching top prices of up to 9 million euros. “In light of the shortage of supply, we are expecting prices for houses and freehold apartments at the most desirable addresses to rise even further,” Georg Petras added.