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Engel & Völkers builds on market position in Vienna with new concept

Wednesday, October 15th, 2014 at 4:03pm Engel Völkers

• Central office for the brokerage of residential and commercial real estate

• Up to 30,000 euros per square metre in the premium segment

Hamburg/ Vienna. Engel & Völkers has opened a Metropolitan Market Center (MMC) in Vienna. Around 400 square metres of office space will now be dedicated to the brokerage of prestigious residential property and commercial real estate throughout the entire city. The MMC is situated at a prime location in the 1st district, directly opposite the Vienna State Opera. “The aim of this brokerage concept is to precipitate a marked expansion of our market position, thereby rising through the ranks to become one of the leading property service providers in Vienna as well,” said Christian Sommer, Managing Director of Engel & Völkers Vienna.

Engel & Völkers has been successfully operating in Vienna with the brokerage of residential property and commercial real estate since 2009. “Vienna is a very important market for us. The metropolitan region is witnessing an enormous growth in population and this brings with it a growing need for real estate,” said Christian Sommer. “High-end properties in this market are also deemed a desirable form of investment amongst investors around the world. Our international network means that we can support our clients specifically in their search for investment opportunities in Vienna.”

The most exclusive addresses in the country include the 1st district with its buildings listed for their historical significance. The highest priced residential units are located on Tuchlauben, where very exclusive penthouses are currently commanding prices of up to 30,000 euros per square metre. Other sought-after locations are the inner districts and the mansion quarters in the 13th and 19th districts.

Optimum realisation of market potential

The MMC Vienna has capacities for up to 120 sales advisors. “Each advisor operates within a fixed submarket of the metropolitan area. This enables faster growth and optimum realisation of the market potential,” said Mr. Sommer. In addition to a central office space, the concept also envisages the building of several property lounges for establishing contact with prospective clients in strategically important locations around the city. The former Central Vienna residential property shop has already been turned into such a lounge, with two more scheduled to open. Engel & Völkers introduced the MMC concept in 2013. MMCs have already been successfully established in Barcelona, New York and Bogotá.

Captions:
(Source: Engel & Völkers)
1. Christian Sommer, Managing Director of Engel & Völkers Vienna.
2. The office premises of the MMC boast views directly overlooking the Vienna State Opera.

For further information please contact:

ENGEL & VÖLKERS AG Princess Wittgenstein Head of Global Corporate Communication Stadthausbrücke 5 20355 Hamburg Germany Phone: +49 40-36 13 11 20 Fax: +49 40-36 13 12 35 Bettina.Wittgenstein@engelvoelkers.com

About Engel & Völkers:

Engel & Völkers is one of the world’s leading service companies specialised in the sale and rental of premium residential property, commercial real estate and yachts. With its licence system, Engel & Völkers is the only Germany-based firm to rank amongst the top 100 franchise companies in the world.* Around 540 residential property shops specialised in high-class real estate and 60 commercial offices brokering office, retail and industrial space, investment properties, multi-purpose apartment and office blocks and property portfolios offer both private and institutional clients a professionally tailored range of services. Leasing, sales, consultancy and valuations form the core competences of the staff of around 5,000 employees. The Company is currently operating in 38 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. In 2012, Engel & Völkers was named the most valuable property brand in Germany in the category “Property broker” by the European Society for Real Estate Brand Observation (EUGIMB). * Source: Franchise Direct “Top 100 Global Franchises Ranking 2011” 

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