“The first California-based shop in the Engel & Völkers brand design will open this coming spring,” says Mathias Bode, the CEO & President of Engel & Völkers California. “Fifteen more shop openings are planned by the end of 2009 including Santa Monica, Beverly Hills, West Hollywood, Malibu, San Diego, Newport Beach and Santa Barbara,” he said.
Engel & Völkers, one of the world’s leading service companies for the brokerage of prestige residential property, commercial real estate and yachts has expanded its License Partner system in the United States into the California. Franchise licenses are now available and managed through the new West Coat Head Office in Beverly Hills, Los Angeles. Engel & Völkers already has over 350 real estate shops in 25 countries across the world and is the pioneer in ‘real estate shop franchises.’ The company started testing their unique real estate shop concept in the U.S. as far back in 2006 and has since then refined their model to meet local conditions. Currently 14 Engel & Völkers shops have already opened for business in New York, the Hamptons and Florida.
According to Bode, the expansion into the Californian market is aimed at enabling clients to capitalize on its service expertise and comprehensive market knowledge when investing in this highly attractive residential property market.
“Now is an excellent opportunity to acquire U.S. property in prime locations at relatively low prices,” he said. “We are forecasting a continued consolidation trend over 2009, with moderate price rises once again though from 2010 onwards and foreign investors are already taking advantage of this market climate in increasing numbers,” according to Bode.
Nine percent of all homebuyers purchasing real estate in California this year are non-U.S. residents and with Engel & Völkers being one of the few truly international real estate companies in the world, together with their very strong European base, the company is destined from strong growth in California.
For more information visit www.EVcalifornia.com
