Engel & Völkers increases sales by CHF 100 million
In the 2015 financial year, the Engel & Völkers Group increased its brand commission sales by more than CHF 100 million, setting another record in the company's history.
Sales increased by 36.4 percent to CHF 450 million (2014: 329.9 million). The 51 residential real estate stores in Switzerland increased their sales by twelve percent year-on-year to CHF 30 million.
According to Engel & Völkers, one important factor was the low level of interest rates, which increased the demand for good properties. The legal and political security in Switzerland has also attracted and will continue to attract more international investors, which supports the preservation of property values.
The Commercial business unit also generated significant growth, it adds. Commercial Offices increased its brokerage revenue by 30.3 percent year-on-year to CHF 81 million. The Residential and Commercial division continues to be the strongest in terms of sales, with around 750 apartment buildings brokered and brokerage revenue of CHF 49 million.
In the current year, E&V plans to open a Market Center in Geneva. These company-owned offices will provide space for up to 300 real estate consultants and will be opened at key locations worldwide. Engel & Völkers also plans to further strengthen its staff. The goal is to employ more than 200 real estate consultants in Switzerland by the end of the year. (ah)
