In the first half-year of 2019 the Engel & Völkers Group has again increased its total commission revenues considerably: by 11 percent over the same period in the previous year, to 362.8 million euros (first half-year 2018: 328.2 million euros). “We are registering high demand for premium properties in internationally sought-after first and second home markets. Our strong brand presence in the DACH region, the Mediterranean region and North America has had a very positive impact on revenue figures,” says Sven Odia, CEO of Engel & Völkers AG.
The DACH region remains among the Group’s highest-revenue markets in the Residential division. Residential property shops here grew revenues by 15 percent to 110.4 million euros (first half-year 2018: 95.8 million euros). Italy registered the strongest turnover growth in the division, with residential property shops increasing revenue by 29 percent to 18.6 million euros (first half-year 2018: 14.5 million euros). The course of expansion also continues unabated in North America. In the USA and Canada, the turnover grew by 18 percent to 107.8 million euros (first half-year 2018: 91.1 million euros).
The Commercial division, with its segments specialised in multi-purpose residential and commercial properties, investment, office, industry and retail spaces, and hotel investments, achieved a 3 percent turnover growth and generated a commission revenue of 49.1 million euros in the first half-year of 2019 (first half-year 2018: 47.5 million euros).
Engel & Völkers is anticipating further growth across all business divisions in the second half of the year. “Our strong growth in the first six months has set us on a firm course for a successful year. Our target for the end of the financial year 2019 is a growth of 10 percent. We will be continuing to expand our presence globally,” says Sven Odia.