Engel & Völkers Press
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Welcome to the press section of Engel & Völkers. Here you will find the latest press releases on market reports, exclusive properties, and company news.
Market reports
The Portuguese real estate market is undergoing significant recovery and a clear upward trend – marked by a 14.5 percent rise in transactions last year, reflecting both the market’s inherent resilience and its strong appeal among real estate investors. Average prices rose by approximately 9 percent, signaling sustained high demand in all regions across the country. These findings are published in the “Engel & Völkers Market Report for Portugal 2024/2025”, which outlines the latest developments and trends shaping Portugal’s property market. “The increase in transaction volume and considerable upward price trajectory underline Portugal’s unwavering growth and long-term potential for strong returns,” says Juan-Galo Macià, President of Engel & Völkers Iberia & South America. “This makes Portugal attractive as an investment location for both international and domestic buyers.”
Holiday properties on the Greek islands continue to enjoy strong international popularity, as highlighted in the latest Engel & Völkers Market Report Greece. The report examines the development of the holiday property market in the Cyclades, the Dodecanese, the Peloponnese region, the Argo-Saronic Islands, and the Chalkidiki Peninsula. Demand follows clear trends: In addition to a prime location, factors such as energy efficiency, modern architecture, and good year-round accessibility are playing an increasingly important role. Moreover, interest is expanding beyond well-known international hotspots. "In addition to popular destinations like Mykonos, Paros, Santorini, and Rhodes, smaller and previously less-developed islands are increasingly coming into focus for buyers," explains Georg Petras, CEO of Engel & Völkers Greece. "Whether for personal use or as a retirement investment, buyers are looking for premium properties that combine Mediterranean lifestyle with long-term value potential."
Spain’s real estate market is increasingly defined by stark contrasts. Demand for luxury properties continues to grow unabated in major cities like Madrid and Barcelona, as well as on the Costa del Sol and the Balearic Islands. At the same time, younger buyers are shifting their focus to other rapidly growing cities. In emerging centers like Valencia and Málaga, millennials are now the largest group of residential property buyers for the first time. “Demand for real estate in Spain has risen sharply due to population growth and strong interest from foreign investors,” says Juan-Galo Macià, President of Engel & Völkers Iberia & South America. “The slowdown in inflation and the reduction in interest rates have further fueled this demand, while limited supply in top locations has pushed prices even higher.” The Spanish real estate market remains robust, with approximately 600,000 transactions (+7 percent) and average price growth of 6 percent. This is according to the new “Engel & Völkers Market Report for Spain & Andorra 2024/2025”. The results also show growing buyer interest in energy-efficient new builds and the rising relevance of digital advisory services.
The Balearic Islands remain a hotspot for property investments in the Mediterranean. With an average real return of around 8 percent per year over the last decade, the market is demonstrating robust growth and offers sustainable, long-term value appreciation. The premium segment is especially strong, with every second property sold by Engel & Völkers in 2024 on Majorca exceeding 1 million euros. The newly published “Engel & Völkers Market Report on the Balearic Islands
2024/2025” presents a comprehensive overview of market trends across Majorca, Ibiza and Menorca for the first time. The high quality of life, stable demand and long-term potential for appreciation in property prices make the region especially appealing. There is also a growing interest in long-term rentals, especially among families and international clients looking to experience life on the islands before buying. “The Balearic Islands remain one of the most attractive markets in the Mediterranean – not only for investors, but also for those seeking a new place to call home,” says Florian Hofer, Managing Director of Engel & Völkers Balearics.
Vacation properties in Germany remain highly sought after – both as owner-occupied homes and capital investments. “Following last year’s fall in interest rates, demand for real estate in Germany’s vacation regions has grown again, driving further price increases in many regions,” says Till-Fabian Zalewski, CEO of Engel & Völkers for Germany, Austria and Switzerland. In premium locations such as Sylt, Lake Tegernsee and the Baltic Sea coast, high demand continues to be met by limited supply, resulting in consistently high price levels. Beyond the well-known hotspots though, there are many areas that still offer moderate entry-level prices. Buyers are placing growing importance on energy efficiency, regional architecture and modern amenities – be it thatched cottages on the coast or traditional chalets in the Alps. In addition to owner-occupation, mixed use models that combine personal use with short-term rentals are also gaining popularity, helping to offset financing costs in the long term. Asset protection therefore remains an important motive for buying. “In economically dynamic times, vacation properties offer not just emotional appeal and enhanced quality of life, but also long-term security as a resilient asset.”
After two years of consolidation, prices in Italy’s premium residential real estate market are on the rise again: in 2024, they increased by an average of 1.3 percent nationwide, accompanied by a significant uptick in transaction volumes over the course of the year. These are the findings of the newly released “Market Report Italy 2025” by Engel & Völkers, published in collaboration with economic research institute Nomisma. Top locations in Northern Italy and on the island of Sardinia are especially in demand, with prices reaching up to 32,000 euros per square meter. Buyer interest spans a wide spectrum – from primary residences in the north and second homes in central Italy to investment properties in the south. At the same time, energy efficiency and sustainable building technologies are becoming increasingly important – factors that are playing a growing role in price formation in the luxury segment. Following a weak first quarter (-7.2 percent), Italy’s transaction market steadily regained momentum, culminating in a 7.6 percent increase in the fourth quarter of 2024 – fully offsetting the previous nine months’ decline. “The market is demonstrating remarkable resilience and continues to attract both domestic and international buyers,” says Muhannad Al Salhi, CEO of Engel & Völkers Italy. “Beyond location, the energy performance of a property is becoming an increasingly decisive factor.”
Dubai’s real estate market experienced another exceptional and record-breaking growth in 2024, further solidifying its position as one of the most dynamic property markets worldwide. “While the global economy faced sluggish growth and persistent inflation, Dubai saw a 40 percent increase in sales transactions,” says Daniel Hadi, CEO of Engel & Völkers Middle East. “This development highlights the city’s international appeal as a stable and opportunity-rich investment destination for both investors and homeowners alike.” Property prices surged by more than 16 percent in 2024, reaching new all-time highs, driven by sustained demand across all market segments.
After a period of restraint, the Paris real estate market is showing clear signs of recovery. The prices are stabilizing while buyer demand – especially from foreign investors – is tangibly on the rise. These are the key results of the latest Engel & Völkers Paris Market Report 2025. “Following a period where investors opted to ‘wait and see’ in 2024, we are now seeing growing demand from both national and international buyers. Americans, in particular, continue to view Paris as a safe haven for real estate investments. The fall in borrowing costs is boosting confidence and further driving property transactions,” says Alexis Caquet, CEO of Engel & Völkers France. The increasing number of property viewings is yet another sign that the market is recovering.
The Dubai real estate market is attracting interest from around the globe. "The market continues to demonstrate its resilience and appeal to a global audience, as both residential and commercial sectors are experiencing significant growth,” reveals Daniel Hadi, CEO of Engel & Völkers Middle East. The combined value of residential and commercial real estate transactions amounted to 138.8 billion AED (approx. 35 billion euros) in the third quarter of 2024. In comparison to the same quarter of the previous year, residential real estate transactions increased by 40.8 percent year-on-year to 115.6 billion AED (approx. 29 billion euros), while the commercial market recorded a 28 percent rise in transaction value to 23.2 billion AED (approx. 5.8 billion euros). To meet the growing demand, Engel & Völkers has entered into an exclusive partnership with P.O.B1 Properties, the newly established real estate development division of the Saif Al Ghurair Real Estate Group (SAGRE).
Premium real estate in Dubai has been a highly desirable asset among international buyers and investors for many years now. Alongside the high quality of life and security on offer, the government has created additional incentives for real estate investments, with new requirements in place for acquiring the Golden Visa in the Arab Emirate. The number of transactions reached a new high in 2023, according to the latest Engel & Völkers Dubai Residential Property Market Report.
Properties
Engel & Völkers has marketed the office space of US fashion designer Calvin Klein in New York City. “The penthouse fully reflects the designer’s signature style,” says Elizabeth Mercedes Berk, of the Mercedes Berk Team at Engel & Völkers. “It combines minimalist elegance with the simple, clean-lined aesthetic of the New York surroundings.” The property is located in the Chelsea Gallery District in Manhattan and changed hands for over 3 million US dollars (approx. 2.57 million euros).
Engel & Völkers has successfully sold the estate featured in the HBO satirical comedy-drama Mountainhead, starring Steve Carell, for more than 50 million US dollars (approx. 43.2 million euros), making it the most expensive property sale ever recorded in the state of Utah. "This estate is truly one of a kind,” says Paul Benson, License Partner at Engel & Völkers Park City. “It combines a world-class location with unmatched amenities and absolute privacy. Properties of this caliber rarely come to market.”
Equestrian estates are among the most exclusive properties worldwide, known for their unique design and specialized functionality. The motivations behind purchasing these properties vary greatly, as do individual requirements and search criteria associated with their distinct clientele. “Our clients range from breeders, professional athletes, and Olympic hopefuls to industry entrepreneurs and private horse enthusiasts,” says Stuart Siegel, Global Head of Private Office at Engel & Völkers. The key prerequisite for an equestrian property is professional-grade horse housing and suitable training facilities – whether for leisure riding, show jumping, dressage, or polo. As such, the demands on infrastructure vary widely across regions and disciplines.
A comprehensive portfolio of international real estate is considered one of the most important asset classes for High Net Worth Individuals (HNWIs) around the world when it comes to long-term wealth preservation. “Affluent real estate buyers often seek the exceptional when expanding their multi-market property portfolios,” explains Stuart Siegel, Global Head of Engel & Völkers Private Office. Castles and manor houses hold particular significance in this regard. “Prime historic properties often feature not only a unique location, high-end amenities, and expansive grounds, but also a captivating history that makes each estate truly one of a kind.” The market for heritage real estate is defined by steady demand paired with extremely limited supply. The distinct clientele expects discreet marketing solutions and top-level advisory services. There is especially high demand for impeccably preserved properties in secluded, private settings. “When it comes to castles and manor houses, buyers are typically looking for three key qualities: privacy, long-term value appreciation, and a historical legacy that gives the property strong emotional appeal”, Stuart Siegel adds.
One of Spain’s most exclusive and expensive properties is currently for sale in Marbella: the prestigious ‘Villa Bellagio’ is now listed with Engel & Völkers for 70 million euros. ‘Villa Bellagio’ redefines luxury, surpassing all traditional standards in architecture, amenities and location. It is one of the most remarkable residences in the entire country,” says Thomas Ajtony, Private Office Advisor at Engel & Völkers Marbella. Designed in 2022 by renowned Spanish architect Jesús del Valle, this exceptional estate is one of the largest private properties in Marbella’s sought-after Sierra Blanca neighborhood. Recognized for its outstanding design, the villa was honored with the prestigious Premios Macael Award for ‘Best Design’.
Venice remains a highly desirable destination for both national and international real estate buyers. The Venetian Carnival, one of the most important events on Italy’s cultural calendar, plays a key role in shaping the dynamics of the local property market. This historic celebration, which adopts a new theme each year, showcases Venice’s rich cultural heritage. In 2025, the festival will embrace the theme “Il tempo di Casanova”, highlighting the historical and artistic significance of the city. Running from 14 February to 4 March, the festival draws countless visitors, and keeps demand for premium real estate high. Most sought-after, exclusive properties in the central districts of San Marco, San Polo, and Dorsoduro attract an international clientele with their historical charm and distinctive ambience. Prices per square meter here range from 6,000 to 10,000 euros, with top prices up to 20,000 euros, depending on the exact location, furnishings, and the property’s historical significance.
Ski regions in the United States continue to stand out as a growth market for real estate investments. Despite economic volatility, prices for ski properties remained more stable than average in 2024 and continued to rise in the most sought-after locations. In Colorado’s prestigious winter sport resort Vail, for example, property prices have averaged 5 percent annual growth, with top listing prices reaching up to $8,800 USD per square foot in 2024 (approx. 90,000 euros per square meter). Other popular ski resorts across the U.S., including Park City (Utah), Mount Baker (Washington), Mount Bachelor (Oregon), Sun Valley (Idaho), Whiteface (New York), and Sugarloaf (Maine), also rank among the most desirable choices for winter sports enthusiasts. The most sought-after properties in these resorts are ski-in/ski-out homes with direct access to the slopes, which rarely come onto the market due to their limited number — and command consistently high prices as a result. “Many ski resorts here are either privately owned or on land leased from the U.S. Forest Service, significantly restricting new construction. This keeps supply limited in prime locations, ensuring stable property values. In 2025, however, buyers are set to prioritize more than just direct proximity to the slopes — they will focus on a property’s potential. Luxury will be defined by the experiences and opportunities it provides,” says Paul Benson, Licence Partner of Engel & Völkers Park City.
The demand for chalets is rising steadily, often exceeding the availability of listings for sale in many regions. The Austrian Alps rank among the most desirable residential markets and vacation destinations in Europe. In Kitzbühel, for example, top real estate prices average between 30,000 and 35,000 euros per square meter. In Salzburg, top prices range from 13,000 to 15,000 euros per square meter. Switzerland, home to renowned resorts like St. Moritz and Gstaad, also boasts some of the most exclusive markets. In Gstaad, top prices range from 68,000 to 70,000 Swiss francs (approx. 72,500 to 74,600 euros) per square meter, while in St. Moritz, they can reach up to 72,000 Swiss francs (approx. 76,800 euros). “For increasing numbers of people, chalets make the perfect retreat where they can escape everyday life and fully embrace nature,” says Florian Hofer, Managing Partner at Engel & Völkers Alpenregion Tirol & Zell am See.
As temperatures drop, fall settles in, and preparations for Halloween begin, we feel a yearning for some much-needed warmth and coziness at home. And one traditional feature of the home epitomizes this: namely, the fireplace. From historic examples through to sustainable models, fireplaces are undergoing a renaissance – offering a welcome slowing down in a fast-paced digital world and somewhere to retreat in comfort from hectic everyday lives.
Engel & Völkers is registering a high demand for properties with fireplaces all year round, in rural regions and big cities alike. Both traditional wood-burning fireplaces and modern bioethanol models contribute to the property's value and boost its attractiveness on the market. Although fireplaces make up only a small part of the overall impression of a property, their emotional associations and aesthetic qualities often play a decisive role in the buying decision — and can even be the determining factor. In urban locations there is also growing interest in space-saving and environmentally friendly fireplaces, while many people are still looking for the charm of older models despite some stricter regulations in place.
Paris – the place to be in 2024. This world-class city has captured the world’s attention this year, not only through the Olympic Games but also thanks to the global success of the Netflix series “Emily in Paris”, which has given yet another boost to the city’s international reputation as a highly desirable place to live. Following the adventures of a young American in the French capital, the show has ignited a worldwide craving for the Parisian lifestyle – with significant ramifications on the real estate market. “The neighborhoods that feature prominently in the series have seen a tangible rise in interest, especially in trendy districts like Le Marais and the 16th Arrondissement, and above all among younger audiences,” says Alexis Caquet, Managing Director of Engel & Völkers France. “The Parisian real estate market is now gaining momentum thanks to this media attention, and we expect to see the positive effects fully materialize by Q4 2024.”
Company news
Engel & Völkers is further advancing its international course of growth by reinforcing its market position in France. A new, centrally located representative office has just opened in the heart of Paris. In addition to its existing locations, the Group plans to open further offices in key French regions later this year, including Lyon, Deauville, Rennes and Marseille. “With our new office in this new prime location in Paris and the intensification of our business operations in France, we are actively driving forward our international growth strategy,” says Jawed Barna, Group CEO of Engel & Völkers. “We continue to broaden our reach both locally and globally, enabling us to offer comprehensive market expertise and excellent bespoke services to an ever-growing international clientele.”
Hamburg, January 16, 2025. Despite a demanding market environment, the Engel & Völkers Group, with its network of company-owned and licensed businesses, achieved double-digit growth in 2024. Engel & Völkers increased its global revenues by 13% to €1.24 billion. This brings the company close to its record high of €1.27 billion achieved during the pandemic year of 2021. “We continue to pursue our profitable growth strategy with our established business and franchise model. We have demonstrated resilience and invested in the future in a persistently challenging market environment shaped by geopolitical uncertainties,” says Jawed Barna, Group CEO of Engel & Völkers. “Thanks to our longstanding expertise, the continuous development of our digital platform leveraging artificial intelligence, and our outstanding service quality, we are set to further strengthen our market position.”
Engel & Völkers continues to expand its market position in Italy. The opening of a Market Center (MC) in Florence in May marks the strategic entry by the global Group into the third major Italian city. “We currently find ourselves in a period of dynamic market growth, and the intensification of our business in Florence is another important step towards the market leadership in Italy,” says Muhannad Al Salhi, CEO of Engel & Völkers in Italy. “We are developing new licence regions all the time and are heavily investing in the training of our advisors, with the goal of becoming the one-stop shop for premium real estate throughout Italy in the long term.” Engel & Völkers has been operating a MC in Rome since 2015, followed by the opening of a second one in the capital and another MC in Bologna in 2023.
Brussels is one of the Engel & Völkers focus markets and demand for property in the Belgian capital and surrounding regions is consistently high. Marick Schippers himself commented as follows: “I look forward to reinforcing the strong market position of Engel & Völkers even further, by delivering consistently excellent standards. Along with the team, our aim is to become the market leader and we intend to offer our partners not only the very best service, but a human perspective in each collaboration.” Marick Schippers has been working under the Engel & Völkers brand since 2016.
Engel & Völkers is pleased to announce the appointment of Muhannad Al Salhi as the new CEO for Italy, effective immediately. He takes over from Tomaso Aguzzi, who is departing the group to pursue new professional opportunities. Muhannad Al Salhi is a highly accomplished manager with extensive sales expertise.
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