The Engel & Völkers Group increased its commission revenues in the financial year 2015 by over €100 million, setting a new all-time record once again. Turnover rose by 36.4 per cent to €409.8 million (2014: €300.3 million).

“Never before has the Engel & Völkers Group achieved such a high rate of revenue growth,” said the group’s founder and CEO Christian Völkers.

The group’s residential division played a key role in the high revenue growth. In the DACH region, residential property shops generated 15.2 per cent higher overall turnover than in 2014. This substantial rise was seen in many other European countries too: the Engel & Völkers Shops in Italy increased their commission revenues by 74 per cent. In Spain there was a 27 per cent growth in revenues, with Belgium recording a growth of 22 per cent. Moreover, Engel & Völkers gained new market share in key real estate markets outside of Europe. Its strong expansion in North America has resulted in a 133 per cent rise in revenues there.

The commercial division also achieved significant growth. Commercial offices increased commission revenues by 30.3 per cent over the previous year to around €74 million.

In addition to its strong franchise operations, Engel & Völkers has managed to expand rapidly in selected international cities with its Market Centre concept. The group-owned offices, which accommodate up to 300 real estate agents, are located in key strategic locations worldwide. Last year alone, Engel & Völkers doubled its number of Market Centres. The MC in Barcelona, which opened in 2013, generated commission revenues in excess of €10 million for the first time.

Engel & Völkers now has a global workforce of more than 7,000 employees and opened its 700th location last year. The company is planning to significantly expand its number of locations in internationally known first- and second-home markets. The focus here will be on Europe and North America. This expansion brings with it an increased need for qualified employees.

“Once again this year we want to recruit an additional 2,000 real estate agents,” Mr Völkers said.

The Engel & Völkers brand is accessible in six locations in Malta, with a Regional Market Centre in Mrieħel.

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