Record 2011 as engel & völkers smash €200m barrier on commission

2011 was a record year for the Hamburg-based overseas property agency Engel & Völkers Group, with overall commission revenues topping €200 million for the first time.

The German group's international chain of residential property shops (of which there are nearly 500 around the world in total) "brought about a 19.4% rise in group commission turnover to €206.4 million," the company told OPP this week.

"High-end property in particular is becoming a preferred financial investment as a direct consequence of the uncertain financial climate and currency crisis in Europe," Christian Völkers (pictured), CEO of Engel & Völkers AG.

Source: OPP.org.uk