Engel & Völkers reports 69% increase in turnover in the first half of 2021
The Engel & Völkers Group reports an extremely successful first half of the 2021 financial year. In the first half of 2021, the Group generated a total fee and commission income of EUR 565.5 Million (69% more than in the first half of 2020: EUR 334.1 Million). This is roughly equivalent to a real estate transaction volume in excess of €16 Billion. “The Covid-19 pandemic has only reinforced the existing trend towards real estate investments and quality of life, and this has been a strong driver of our brokerage activities.
In some of our key strategic markets we are seeing turnover growth on an unprecedented scale,” says Sven Odia, CEO of Engel & Völkers AG, adding: “The real estate sector is benefiting from a steady demand and growing need for homes among national and international buyers looking for long-term investments with the prospect of stable returns.”
Engel & Völkers Marbella records 187% increase in turnover in the first half of 2021
Along the same lines, Engel & Völkers Marbella is among the strategic destinations with unprecedented growth. Both the brand and the destination have been strengthened by the pandemic, proving to be a solid investment for our national and international clients.
The quality of the homes offered by E&V Marbella, as well as the infrastructure and connectivity of the destination in addition to its low population density and of course its unique climate in Europe, positions us at the forefront of real estate sector.
Engel & Völkers Marbella thus reports an increase in transaction volume and commissions of 187% over the previous year.
Growth of all sales channels of Engel & Völkers Marbella
The growth in the first half of 2021 responds to the increase in each and every one of Engel & Völkers Marbella’s sales channels. As we reported in the analysis of the year 2020, one of Engel & Völkers Marbella’s clear bets has been on digital channels.
Thus, part of the investment made by the group has been focused on designing and launching a new website, as well as improving the positioning of the regional website, which continues to grow organically.
We have also increased and improved our presence in the most important national and international real estate portals, resulting in a 227% growth between both, our own and third party websites.
But our partnerships have also grown, both with agencies in Engel & Volkers’ own network – with its more than 800 shops worldwide – and with local third-party agencies, with whom we are continuing to build closer ties. This channel has improved by more than 30% compared to the first half of 2020.
Engel & Völkers Marbella opens its fifth shop in Guadalmina
In response to growing demand, especially from the national clientele, Engel & Völkers Marbella has made the strategic decision to open its fifth shop in the Guadalmina Shopping Centre.
The shop, headed by Justin Boland, has been a success practically since its opening last April 2021 proving to be a very wise decision by Smadar Kahana, Managing Director of Engel & Völkers Marbella.
The shop specialises and covers the areas of San Pedro and San Pedro playa, Guadalmina alta and baja as well as Benahavis; excluding La Zagaleta and Alcuzcuz which remain under the umbrella of the Puerto Banus shop managed by Sibel Benarush.
With the opening of this shop, E&V Marbella offers the best advice on the market in Marbella & Benahavis with more than 50 agents specialised in micro areas covering from east to west of the area.
The unstoppable growth of Engel & Völkers Marbella’s New Developments Department
Another key to this unparalleled growth is due to our exclusive New Developments department. Engel & Völkers Marbella markets the best new build projects currently available on the Marbella market.
Such is the example of La Fuente, a unique and unrepeatable complex of 15 luxury villas in a central location with concierge services and 24-hour security. The complex, which began marketing last November 2020 in full confinement, is practically sold out with only two units available.
Similarly, Benalús, the only complex built close to the beach on the Golden Mile in the last 20 years, has been almost completely sold out since the building permit was granted in March 2021. Of the 28 flats comprising the complex, only 5 units are still available for sale and we hope shortly to be able to inform you of the launch of the second phase, for which a licence has already been granted.
Finally, in the case of Grand View, whose launch was particularly affected by the first confinement in 2019-2020, work has not stopped for a moment and is already well advanced, which has reassured potential clients about the viability of the project and the sale of its 7 exclusive units has begun unstoppably.
These figures exceed our expectations and suggest that our international network with which we collaborate through different cross selling campaigns are powerful tools to achieve the goals we set for ourselves. We look forward to seeing the full results for 2021, which we are sure we will more than achieve.
Nathalie Dorpinghaus | 28/Jul/2021