Engel & Völkers sets all-time sales record in 2022

The average price of the purchase and sale transactions managed by Engel & Völkers in Spain rises by 6% to 744,687 euros

"The year 2022 has marked a turning point between the first and second half of the year in an atypical year in which the real estate sector has not been able to remain unaffected by global uncertainty," explains Macià. "After some complicated years conditioned by the pandemic, in 2022 we have been able to return to the real estate sectorin 2022, we have been able to outdo ourselves once again"The President of Engel & Völkers for Spain, Portugal and Andorra confirms. In a market in constant transformation, explains Macià, "we have been able to continue to grow in number of propertieswe have been able to continue to grow in terms of number of transactions, transaction volume and brand expansion, with the opening of the Metropolitan Market Center in Seville as our main stronghold".

Buyers focus on second homes

Although the average price has risen in both buying and renting, price adjustments are expected in mid-market locations by 2023, with stability in premium homes, where strong demand will remain strong premium housing where the strong demand seen in 2022 will be maintained. In the upper end of the market, rising interest rates have less impact on market activity, as many customers do not need to take out mortgages to finance their purchases. However, in some cases, higher price sensitivity can be observed, resulting in longer marketing periods.

In mid-market locations, demand has declined in recent months due to increased barriers to applying for financing. Banks are much more cautious when valuing properties and demand stricter requirements on the solvency of clients. This is compounded by rising interest rates, which make it increasingly difficult for a growing number of people to finance an investment in a home. As a result, prices have fallen slightly in some markets.

"We see this as an adjustment after the exceptionally high price rises of recent years we see this slight fall as an adjustment after the exceptionally high price rises of recent years. From 2020 to early 2022, there was a real boom in the housing market, and we knew that this could not last forever. The price trend is stabilising, but we do not expect sharp falls in the future," adds Juan-Galo Macià.

Engel & Völkers maintains its expansion plans for 2023 under the group's successful business model. Based on the solid pillars of the franchise business together with the Market Center concept and the company's own operations, Engel & Völkers expects to continue to grow and attract new external partners. "We are always open to enthusiastic people joining us, with the aim of further strengthening our market leadership and writing the next chapter in the company's success story," concludes Juan-Galo Macià.