Engel & Volkers franchise looking to expand its network

Engel & Volkers, a real estate franchise selling high quality property, has announced its results for last year. According to the Hamburg-based franchise, its residential real estate division enjoyed the greatest growth in its home market of Germany. Compared to last year, the turnover in this area increased by 9.3 percent and the German network of shops selling residential properties expanded by 20 percent.

In contrast, Engel & Volkers' turnover on the international residential property markets fell by 1.7 percent. Despite these results, however, the company is intending to continue the expansion of its network abroad. It is also looking to further expand its commercial property division even though it suffered a fall in turnover last year of around 28.4 percent: having completed its national expansion plans (30 commercial property agencies), the company then set up agencies in Prague, Lisbon and Qatar as well as in Zurich and South Africa. Further offices are expected to open up in Istanbul, Bucharest and Copenhagen.

Engel & Volkers currently employs over 3,300 people in 25 countries on a total of four continents.

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