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Engel & Völkers Broker 12% Fewer House Sales in Spain

The consultancy firm's revenues from rental brokering grew by 11.5% to 73.4 million euros in 2020, despite the pandemic.

Villa en Port Andratx Mallorca Fuente Engel Völkers
Villa in Port Andratx in Mallorca, owned by Engel&Völkers.

The German firm Engel & Völkers has weathered the house sale brokering storm in Spain, supported above all by growth in its rental business. In Madrid, it forecasts a 20% increase in sales by the end of 2021.

In this way, in Spain, the firm registered an 11.5% increase in revenues from its residential rental segment, where income generated by rental brokering amounted to 73.4 million euros last year. But that figure did not compensate for the decrease in sales, since the volume of brokered transactions fell by 12.8%, to just over 1.6 billion euros.

Read the full article in Spanish.

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