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Engel & Völkers’ Sales In Spain Soared By 45% In H1

28 July 2016 – Expansión

The German real estate company Engel & Völkers, which specialises in the sale of luxury assets, increased its (global) turnover by 41% during the first half of the year. In Spain, its revenues soared by 45.1%, to reach €690.9 million. This growth was driven by operations in both the sales and rental markets.

The company, which plans to open nine new outlets in Spain, attributed this “good progress” to strong demand for premium properties in holiday areas such as Mallorca, a fundamental market where its business grew by 79% during H1, as well as in large cities, where it has a presence through the Metropolitan Market (MMC).

At the global level, the group increased its revenues from commission by 26.2%, to €229.4 million.

Original story: Expansión (by Inma Benedito)

Translation: Carmel Drake