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Top German property broker in Hungary

German real estate broker Engel and Völkers, focusing on up-market properties through 170 offices of its own and 103 partner companies worldwide, is starting a network in Hungary, business daily Világgazdaság reported on Tuesday. The company will open its first three offices in Budapest, Szombathely (W Hungary) and Héviz (SW Hungary) in the coming days. As for 2006, a further 10-12 units are planned. Hamburg based Engel and Völkers earned EUR 50 million in commissions in 2004. The group is an international real estate agency operating in Germany, Spain, Switzerland, Austria, UK, Portugal, Italy, France, United Arab Emirates, USA, and South Africa.