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Growth in the Spanish Property Market

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September 6, 2013

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Leading international real estate group specialising in the quality property sector, Engel & Völkers, achieved over 30% growth in Spain in 2012. This figure is in stark contrast with the fall in Spanish property transactions by 14.6% last year according to the national Spanish registry.

Despite the adverse market conditions, Engel & Völkers Spain managed to increase transaction volume from 224€ million in 2011 to 293€ million in 2012. The average sale price increased to 645,000€ from 525,000€ the previous year representing a 23% increase with a total of 452 transactions from 425 in 2011.

In terms of market presence, the company expanded on the Spanish Mainland with the opening of 6 new shops including Madrid, Valencia and Alicante bringing the total number of shops to 50 throughout the country. Furthermore, a total of 12 new shops are scheduled to open throughout 2013 on the Spanish Mainland.

David Scheffler, Engel & Völkers Director General Spain, commented on the positive results saying;”Spain is a key priority for our company and because of this we have implemented major innovation, investment and training programmes over the last few years. We are now starting to see the fruit of our efforts and are confident that this positive growth will continue”.

Worldwide, the sales results for the Engel & Völkers Group totalled 6.000€ million in 2012 (including residential, commercial and yachting) representing a 20% increase over the previous year. This strong increase is due to various factors including the strong German, Swiss and Austrian residential market. Premium second home destinations including The Balearics and Florida have also reported good growth.

Engel & Völkers
C/ Constitución, 7
Palma de Mallorca, Islas Baleares
Tel: +34 971 21 41 40
www.engelvoelkers.com


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