Tag Archive for: Engel & Völkers

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Engel & Völkers reports 1.2 billion euros in Group commission revenues for 2022

Engel & Völkers reports 1.2 billion euros in Group commission revenues for 2022

Hamburg, 1st February 2023. Engel & Völkers, the leading platform for real estate agents, reports Group commission revenues of 1.2 billion euros for the 2022 financial year. Real estate worth a total of approx. 39 billion euros was brokered worldwide.

“Despite the onset of a cooling-off period on the real estate market, our turnover performance matched that of the previous year, in excess of 1.2 billion euros. We were also successful in driving international expansion forward in our core markets and increasing the number of agents working under our brand,” says Sven Odia, Global CEO of Engel & Völkers, continuing: “In the current market climate, expertise, experience and professionalism are key differentiators when it comes to strengthening client loyalty and gaining even greater market share. In the second half of 2022, we saw that sellers are particularly drawn to us for our elaborated specialist knowledge, as well as for the intensive personal support we provide when brokering their properties. They also trust in our brand, which has been globally established. In 2023, we intend to invest even more in the training of our real estate agents and the expansion of our digital technology platform – in order to provide our clients with the best possible advice, especially during periods of crisis.”

Real estate as an anchor of stability

“The war in Ukraine and its ramifications in the form of a shortage of raw materials, the energy crisis, and rising inflation and mortgage rates meant that 2022 brought along a special set of circumstances that still continues. This mood of uncertainty led, in turn, to a certain reluctance to buy in some of our markets,” says Sven Odia. He goes on to say: “There is still a high demand for real estate however – as a safe haven and a capital investment that provides dependability in terms of value retention. Properties are seen as an anchor of stability, especially in the premium segment, and used as an attractive method of protecting assets in the long term.” Between January and December 2022, Engel & Völkers closed 10 percent more real estate transactions in the uppermost segment of properties worth in excess of 10 million euros.

Alongside the Group’s stable revenue performance, the number of real estate agents is growing continuously. In 2022, more than 1,000 agents and 53 shops joined the platform worldwide. “We offer them a global and renowned brand, an international network, and a superb platform that harnesses the very latest technologies. This offer will continue to attract many market experts in the future, which in turn will take the Group’s ongoing professionalisation to the next level. We are cautiously optimistic about developments in this coming year,” Sven Odia concludes.

ENGEL & VÖLKERS
Engel & Völkers GmbH
Global Corporate Communication Team
Vancouverstraße 2a
20457 Hamburg
Germany
T: +49 40-36 13 11 20

About Engel & Völkers: Engel & Völkers is one of the world’s leading service companies specialised in the brokerage of premium residential property, commercial real estate, yachts and aircrafts. For over 40 years now, the wishes and needs of private and institutional clients have had top priority, giving rise to the ongoing development of a range of services relating to all aspects of real estate. Sales and leaseholds, as well as consultancy for various investment opportunities in the real estate segment are among the core competencies of more than 16,500 people operating under the Engel & Völkers brand. The company is currently operating in over 30 countries on five continents. Intensive training schemes in its in-house real estate Academy and the high level of quality assurance governing its systematically structured service provision are key factors that account for the company’s success. Engel & Völkers develops digital tools and IT products on an ongoing basis, in order to keep its service as efficient as possible. In doing so, the company is setting new standards in digital solutions for property brokerage. www.engelvoelkers.com

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Luxuryestate Zurich: Residential real estate market – Prices flatline on a high after period of growth

Luxury real estate Zurich: Residential real estate market – Prices flatline on a high after period of growth

  • Price highs of 35,000 Swiss francs (approx. 35,000 euros) per square metre
  • Sustained upward trend for modern urban apartments and historic mansions

Hamburg / Zurich, 18 January 2022. Zurich is among the cities in the world offering the highest quality of life. As one of the leading financial and economic centres in Europe, the city attracts many private buyers and institutional investors. With its population now having reached 440,000, more people are currently live in Zurich than ever before. “In Q3 2022, residential property prices in Zurich only rose slightly (+0.6%) over the same quarter last year. In view of the continuing demand from national and international buyers, along with the extremely limited supply of properties in prime locations, we expect prices to flatline on a high in 2023,” says Axel Kühn, Licence Partner at Engel & Völkers Zurich Paradeplatz & Oerlikon. The average price per square metre for apartments in the luxury segment is currently between 22,000 and 35,000 Swiss francs (approx. 22,000 to 35,000 euros). The average sales price for mansions and detached properties with living interiors of some 300 square metres is 9 million Swiss francs (approx. 9 million euros). The steady growth in the population will continue to drive this excess demand – meaning that, despite the current economic outlook and rising interest rates, prices can be expected to remain stable in the city centre, in prime locations, and the surrounding regions. The high quality of life, the diverse array of cultural offerings and educational institutions, and the proximity to the mountains make Zurich an attractive primary residence. Alongside traditional banks and insurance firms, many tech companies and start-ups have recently relocated their headquarters to Zurich. This trend alone will mean that the appeal of the city as a place to live and work will continue to increase.

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luxuryestate

Appealing location factors and a high standard of living attract international buyers

Around 120,000 companies are based in Zurich, forming a dynamic network of major international corporations, innovative medium-sized companies and highly specialised small businesses. “The burgeoning start-up scene gives a further boost to its status as a business hub, which in turn is prompting lots of young talent and a highly qualified workforce from all over the world to settle here and, after initial rental experiences, act on their long-term purchase plans,” says Lars Keller, Licence Partner of Engel & Völkers Zurich & Zurichberg. While domestic clients account for around 75 percent of the real estate market, 25 percent of all property transactions in Zurich can now be attributed to foreign buyers living in Switzerland – and this figure is on the rise. The majority of prospective buyers come from Germany, the Benelux Union, the UK, France, Italy, Eastern Europe and Scandinavia.

Top prices for residential property in hillside locations on Lake Zurich

Among the most exclusive locations are Fluntern and Hottingen at the foot of the Zurichberg. These two residential neighbourhoods are east of the historic city centre and combine the benefits of suburban living with the luxury of expansive natural surroundings. The many opportunities for jogging and mountain biking make this location particularly popular with clients who enjoy a sporty, active lifestyle. Historic estates on large plots with magnificent gardens and unobstructed views of Lake Zurich and the Alps are in high demand here. In 2022, just a small number of properties of this calibre changed hands for tens of millions. Top prices per square metre in excess of 33,000 Swiss francs (approx. 33,000 euros) were fetched for high-end apartments.

The Enge neighbourhood is situated southwest of the city centre. Residential properties here are set over a hillside dotted with large parks filled with mature trees. This area is especially popular with young families due to it being within walking distance to Zurich’s business centre and lakeside bathing spots. In 2022, townhouses sold here for up to 10 million Swiss francs (approx. 10.1 million euros). The top price per square metre for loft apartments was as much as 24,500 Swiss francs (approx. 24,500 euros).

Höngg is located above the Limmat River on the slopes of the “Käferberg”. Thanks to its south-facing location overlooking the city centre, Lake Zurich and the Limmat Valley, this neighbourhood is highly sought-after by families and commuters. Residents here also value the proximity to the local recreation areas of Waidberg / Käferberg, as well as the convenient transport links to the city centre and Zurich Airport, which can be reached in just 15 minutes by car. In 2022, mansions in Höngg sold for an average of 4 to 5 million Swiss francs (approx. 4 to 5 million euros).

Zurich West is the former industrial quarter and one of the city’s up-and-coming districts. This trendy district has a captivating alternative flair and makes for an architectural contrast to the picturesque Old Town. A host of different cafés, vibrant craft shops and second-hand boutiques add to the charm of Zurich West. This area of the city is particularly popular with students and young entrepreneurs. Top prices per square metre for freehold apartments here in 2022 reached 23,500 Swiss francs (approx. 23,500 euros).

luxury real estate Outlook: Thriving economic area to safeguard high prices

New construction projects such as “Europaallee” directly next-door to Zurich’s main railway station, the “Käferholz” residential complex with over 200 premium freehold apartments and “Hamberger Park” with luxury apartments are all playing their part in the ongoing structural evolution of the city, and  attracting renowned corporations such as Google. Zurich is becoming increasingly cosmopolitan with the accompanying influx of expats, without losing any of its historical heritage as a centre of culture. The sustained price rises in recent years prove that Switzerland’s regional real estate market is witnessing stable growth. For 2023, prices are expected to level out on a high. “Thanks to their stable value, residential properties in and around Zurich are a sound and future-proof investment,” says Kerstin Kühn, Licence Partner of Engel & Völkers Zurich Paradeplatz & Oerlikon, who goes on to make a recommendation: “Focus on properties in well-developed communities in suburban or rural areas that offer space to set up a home office, or, alternatively, focus on micro-apartments in the city centre.”

Captions:

Classic mansion in Wollishofen

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Located in the heart of Zurich’s Wollishofen neighbourhood, Engel & Völkers currently has this historic mansion dating from 1895 listed for sale (price on request). The property is set on a plot spanning some 2,000 square metres, with a total of 15 rooms spread over three floors. The mansion is impressive for its refined details that include original parquet flooring, restored stucco ceilings and specially made silk wallpaper. (Image source: Engel & Völkers Zurich Paradeplatz)

Exclusive freehold apartment on the Sonnenberg

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Situated on the “Sonnenberg”, this exclusive apartment is on sale for 4.3 million Swiss francs (approx. 4.4 million euros). The 2.5-room apartment is located in a building with five residential units in total. It affords state-of-the-art comforts throughout its interiors, which span 113 square metres. The property also boasts a large covered terrace and, thanks to its southwest orientation, it is ideal for owners looking to enjoy a panoramic view over the city and the surrounding vineyards. (Image source: Engel & Völkers Zurich Zurichberg)

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Engel & Völkers Porto Cervo – Costa Smeralda: International demand for luxury holiday properties on Sardinia’s exclusive north east coast

Costa Smeralda: International demand for luxury holiday properties on Sardinia’s exclusive north east coast

  • Discretion and exclusivity have currency on the real estate marketa
  • Buyers focusing especially on sprawling country estates
  • Premium properties south of Costa Smeralda increasingly sought after

Hamburg, 15 August 2022. The Costa Smeralda on the northeast coast of Sardinia is one of the most sought-after and most exclusive markets for holiday properties in the world. It also remains one of the most discreet markets though. This strip of coastline, which owes its name to the unique emerald green of its waters, stretches for some 20 kilometres – with fine sandy beaches, picturesque rocky bays and unique Mediterranean architecture. Ever since the 1960s, it has been one of Europe’s finest addresses for first-class restaurants, exclusive shopping and luxury second homes. “Demand for real estate has risen sharply in the wake of the pandemic and, alongside top premium villas with sea views, buyer interest is increasingly shifting to large country estates with sprawling plots of land that offer a peaceful and secluded retreat,” says Daniela Ciboddo, Licence Partner of Engel & Völkers Porto Cervo, who continues: “At the same time, buyers are also increasingly tapping into the regions south of Costa Smeralda.”

Discrete and exclusive property market in strong demand

The special status of the Costa Smeralda as a luxury retreat for extremely affluent and sometimes prominent clients means that discretion and exclusivity are centrally important tenets of the property market here. “Many properties are not advertised in the public domain and usually brokered while observing strict confidence. In some cases, exceptional properties can command sales prices in excess of 200 million euros,” says Daniela Ciboddo.

One of the most sought-after locations on the Costa Smeralda is the upmarket port town of Porto Cervo, which is home to one of the highest priced marinas in the world. Since being founded by Prince Karim Aga Khan in 1962, it has evolved into a hotspot for both famous personalities and the international jet set. There is a typically Italian piazzetta at the centre of the town, with a number of luxury hotels, as well as designer shops, upmarket cafés and restaurants. Desirable apartments here are currently on the market for up to 2 million euros. In the hills around the town, there are also extensive plots of land with magnificent estates that command asking prices of up to 18 million euros.

Coastal locations south of Porto Cervo are also highly sought after, including the bays of Cala di Volpe and Romazzino, which boast idyllic beaches blessed with turquoise waters. In the Bay of Romazzino, exclusive villas can be purchased for figures greater than 200 million euros. In Cala di Volpe – renowned internationally for its immaculate golf courses – luxury villas and estates with panoramic views of the coastline and surrounding islands are also in high demand. Asking prices for properties of this kind can reach as much as 18 million euros.

Interest in properties in the port town of Porto Rotondo is also strong. The town has a curved harbourfront that can accommodate up to 800 yachts, as well as picturesque beaches with crystal-clear water and beautiful bays such as “Cala Ira” and “Cala Sabina”. Luxury boutiques and restaurants also give the town a glamorous charm. Some of the exclusive villas here have been owned by famous individuals and command prices of up to 40 million euros.

To the north of the Costa Smeralda, Porto Rafael is a particular favourite with island insiders and celebrities. Compared to Porto Cervo, the place is less touristy and offers numerous quiet retreats. Here you will find large plots in secluded locations with far-reaching views of the entire coastline all the way to Corsica. Luxury villas are offered here for prices of up to 15 million euros.

International clientele looking for secluded estates in premium locations

A high proportion of real estate transactions on the Costa Smeralda can be attributed to buyer groups from abroad. Around 38 percent of buyers come from Germany, Austria and Switzerland, around 10 percent from Great Britain, 5 percent each from the USA, Australia and the United Arab Emirates, and 2 percent from other countries. 35 percent of real estate purchases are made by Italian buyers. The majority of these clients are between 40 and 70 years old and looking for a second home for their families with children.

“Restrictions that came about with the pandemic really brought to the fore what the Costa Smeralda has always offered and what people suddenly craved even more: rugged, unspoiled nature and exclusive, quaint towns and villages filled with a sense of security and freedom,” says Daniela Ciboddo. “In addition to properties for owner-occupation, older villas and estates in premium locations such as the hills of Cala di Volpe and Porto Rafael are particularly sought-after investment properties, which are often extensively renovated and either resold or rented out.”

Outlook: Continuing high demand and increasing interest in regions south of Costa Smeralda

“Demand – especially for properties in the premium segment – has remained consistently high on the Costa Smeralda since its inception in the 1960s. The real estate market here remains largely unaffected by political or economic crises and represents a particularly safe haven for real estate investments,” sums up Daniela Ciboddo, adding: “We therefore expect demand to remain at a high level. We are also now beginning to see interest in properties in the previously less sought-after regions south of Costa Smeralda, such as Puntaldia, Capo Coda Cavallo, and Punta Molara.”

Please be sure to include copyright notices when using any of the images.

Rare and prestigious waterfront property in Porto Cervo
This luxurious villa in the direct sea line in Porto Cervo is currently being marketed by Engel & Völkers for 26.5 million euros. It has a total living area of 350 square metres with five bedrooms and seven bathrooms. The property is located on a 2,000 square metre plot with several terraces, a swimming pool, a Jacuzzi as well as private beach access. In addition, the property has a panoramic view of the emerald green water and the surrounding bay.

Majestic contemporary mansion in Porto Cervo
This exclusive modern villa, which Engel & Völkers is currently marketing, is located in a premium location in Porto Cervo. Six bedrooms and eight bathrooms are distributed over a living area of 1,200 square metres. The upscale features include a fitness room, a swimming pool, a whirlpool, a massage room and rooms for staff. The unique wide view of the Pevero Bay and the private secluded location complete the offer. Price on request.

Villa with views over Cala di Volpe Bay
Engel & Völkers is currently marketing this luxurious designer villa in Cala di Volpe. The property has 340 square metres of living space with six bedrooms and six bathrooms. The outdoor area extends over a 2,000 square metre lush in-grown garden with several terraces and an infinity pool. The open-plan concept with flowing transition between the indoor and outdoor areas provides a wide direct panoramic view over Cala di Volpe Bay from almost all rooms. Price on request.

Image source: (Engel & Völkers Porto Cervo)

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