The intermediation figure in 2018 has exceeded 2,000 million euros for the first time ever
The average price of rentals managed by Engel & Völkers in Spain is up by 54% to 2,922 euros
In Andorra, the real estate company registered a growth of 26%
Madrid, January 22nd, 2019. The business of Engel & Völkers, the leading German real estate brokerage company in the world, grew by 8% in Spain in 2018, to a turnover of 2,065 million euros. "Our commitment to expansion continues and in 2018 we have been able to exceed the 2,000 million euros for the first time ever. By 2019 we hope to continue expanding our presence in new markets that bring added value to the brand," says Juan-Galo Macià, CEO of Engel & Völkers Spain, Portugal and Andorra.
The company made a total of 3,110 sales transactions during the past year, which is 10.4% more than the figures recorded in 2017. Regarding rentals, the number of properties that the firm has managed increased to 15.2% totalling 3,092 operations. The average price of properties rented out by Engel & Völkers rose by 54% to reach 2,922 euros a month.
The growth of Engel & Völkers in Andorra has been outstanding. This is the country in which the real estate company made a profit of 26.35% higher than in 2017 thanks to the 20% increase in the number of operations.
New Record Breaking Figures Based on International Results
In other parts of the world, the Engel & Völkers group increased its turnover by 9% in 2018 by reaching 728 million euros. This result represents a new record at the global level for the company. "In 2018 we have managed to exceed 700 million euros for the first time thanks to the success of our international expansion strategy," says the founder and CEO of Engel & Völkers, Christian Völkers.
Strong momentum in the Commercial division
The division dedicated to the intermediation of assets in the tertiary sector also contributed to the group's financial growth in 2018 increased by 3%, to a figure of 122 million euros. The high demand from investors in apartment buildings has multiplied. The combination of residential real estate assets and offices has been the commercial division's real engine, since these investment properties accounted for around three quarters of the division's total turnover.
Digitalization
Engel & Völkers will maintain its expansion strategy in the markets that offer the greatest potential during 2019. The company currently has an international presence in 800 locations and it has more than 11,000 people collaborating for this brand. "This year we have the intention to strengthen the franchise network and operations in the Market Centre, the business niche of the company that we will enhance together with continuous investment in digital technology and other new segments of the future," says Christian Völkers.