Colliers and DTZ Echinox, two of the largest companies on the market, resumed growth, while Coldwell Banker reported flat revenue, as the housing market, from which the company gets most of its revenue, seems to be lagging in terms of transactions.
Colliers regained the leading position, with a 35% revenue increase, despite having seen its turnover shrink to one quarter of what it was during the real estate boom.
On the other hand, the domestic representatives of CB Richard Ellis also said the company’s turnover in 2010 advanced by over 10%, so that one can say these companies have stepped away from the edge.
Real estate consultancies saw their revenues from on valuation
and market research services, as well as consulting services for
office space or shopping center rental and investment deals, go
up.
Rental deals, as well as the expansion of some niche segments, such
as medical clinics, brought business to real estate consultants,
which are fighting on a market currently valued at EUR25-30 million
annually.
2011 had a good start, but the path to the market reverting to the 2007-2008 level is due to be a long one and will entail to an even greater extent brokers’ turning into consultants.