28 January 2016 – Expansión
The German real estate agency Engel & Völkers, which specialises in the residential sector, grew by 46.3% in Spain in 2015, selling properties worth €1,023 million during the year, compared with homes worth €699 million in 2014.
Last year, the company closed 1,785 house sales, up by 66.7% compared with 2014, with an average price of €616,106 per home, which represents a decrease of 5.6% with respect to the previous year.
In terms of the rental market, the number of homes managed by the firm in Spain increased by 116.3% to 1,566 operations. In this segment, the average price decreased by 5.5%, in line with the market trend, to €2,178/month.
In the rest of the world, Engel & Völkers increased its revenues from commissions by 36.4% to €409.8 million, which represents an increase of more than €100 million, compared with the €300.3 million recorded the year before, and a new record in the company’s 35-year history, according to Europa Press.
In its central European market alone, in particular in Germany, Austria and Switzerland, the company increased its turnover by 15.2% in 2015 compared with 2014, whilst in North America, its revenues rose by 133%.
Original story: Expansión
Translation: Carmel Drake