Engel & Völkers : the strength of an international network
Founded in Hamburg in 1977, Engel & Völkers is one of the largest international service groups, specializing in the sale of high-end real estate, luxury yachts and private jets. Meet David Scheffler, President of Engel & Völkers France, Belgium, Netherlands.
A European leader in high-end real estate, with 800 locations in 34 countries, Engel & Völkers covers France from Paris to the Côte d’Azur, distinguishing itself by the quality of its services. The group benefits from exceptional growth and impressive development in the country despite the Covid-19 crisis. “Our group focuses on three fundamental principles which have led to its success : passion, competence and exclusiveness. We offer our clients an international network and local expertise but, above all, top-notch service, the key to our success and our most fundamental imperative,” says David Scheffler, President of Engel & Völkers France. On the subject of the Parisian market, he explains : “Upper floors and sunny outlooks have always been decisive criteria in Paris and, since the health crisis, demand for outdoor areas has intensified and we have seen rising interest in the near suburbs such as Neuilly and Levallois. Since September, prices have remained steady in the capital, though buyers are more prudent and careful. Availabilities are still rare in the Ile-de-France, with ever more buyers than sellers. In an uncertain economic context, investment in real estate wins out due to the distrust of private individuals with regard to “equity risk”. A crash in the property market is not to be foreseen, especially in the high-end segment. Still very appealing, Paris is also benefiting from the effects of Brexit. Post confinement, demand exploded, scoring records in our agencies for both mandates and visits in June. We recently sold a family apartment of 120 m2 in the 17th arrondissement priced at 1.3 M€. As for the second residence market, more affected as it depends more on foreign demand, it is showing a promising comeback and is benefiting from the resurgence of more local demand”. Going forward ? Engel & Völkers is preparing an ambitious expansion plan throughout France, in large cities such as Bordeaux, Lyon and Marseille, but also in the most attractive getaway destinations such as Deauville, Courchevel and Cap-Ferret.
Engel & Völkers France, 24 bis, rue de Berri Paris 8. www.engelvoelkers.com
