this housing market During the pandemic, it experienced low times due to great uncertainty and pushed investment decisions away. But that trough is already a thing of the past, given that sales have been hitting numbers not seen in more than a decade in recent months. For example, in April, sales reached 60,734, according to the latest data from the General Assembly of Notaries (CGN). Family savings were soon diverted back into the industry, a traditional refuge in situations of uncertainty like the current one. According to INE data, 10% of purchases were made as investment value (51,000 homes) as early as 2021.
The need to guide clients through the process has meant that employability in the industry has increased by 70% over the past 10 years, as noted by the Real Estate Barometer of Unión de Créditos Inmobiliarios (UCI) and its professional development field Spanish International. Real Estate Alliance (SIRA). Specifically, there are already over 167,000 professionals dedicated to it, a record number.
There are many real estate agents in Spain that maintain or expand their staff. The most demanded vacancies are proptech – the application of technological developments to the industry – specialists, investment analysts and agencies specializing in various branches. According to Francis Fernández, director of SIRA, rehabilitation agents are key players due to the expected “massive” growth in renovations, as well as public investment trying to promote energy efficiency benchmarks. In fact, the Government plans to allocate EUR 4,420 million in European funds for the rehabilitation of around 500,000 homes between 2021 and 2023 – currently around 30,000 homes are being built annually. “There is an explosion of job offers that will help change the sustainability and energy quality of homes,” explains Fernández.
In addition, people who are considering entering the sector also take into account the working conditions. According to experts, being a salaried real estate agent allows flexible working hours, a salary of between 30,000 and 40,000 euros per year, a good compromise and oriented yourself to the market you want. “The increase in employability is due to the many early retirements in banking that have resulted in the launch of a large number of qualified professionals who know the industry,” explains Toni Expósito, CEO of Compracasa. Another way for many people to re-enter the labor market is through involved real estate agents. According to Expósito, as self-employed “They sign up with a broker and practice their profession eight hours a day or in addition to their income”. In the past, the percentage of profit from a transaction taken by an unpaid agent associated with a real estate agent was 30% or 40%. It is now offered between 70% and 99%, based on new online platforms. “In the US, that’s about 100% of the value of the transaction, and in Spain that’s the future. In fact, in countries like the USA they say we’re in our 80s”, says Expósito.
On the other hand, digitization is part of the daily life of real estate professionals in Spain, with 3D images of real estate and home staging, a marketing technique that refers to decoration, revaluation and guided tour of houses. Social media management and business management applications are part of your daily life.
Concerning the future evolution of employability in the real estate industry, analysts warn of inflation, which is causing a loss of purchasing power and could wipe out interest in working in the brick. “Wages are expected to increase 2.5% over the year, but this is not a positive thing unless accompanied by an increase in purchasing power,” says Gonzalo Velila, director of development at Remax Spain. In addition, year-end sales forecasts are also down. According to the BBVA Research real estate observatory, it is expected to decline 1.3% annually to 670,000 units, following a 38.4% growth in 2021 due to factors such as war or material shortages.
Construction is an exception to the trend and is currently understaffed. There are 1,316 million people currently employed, 50% below the peak from the real estate boom when it reached 2,679 million. “The problem is there are workers who do projects that eventually fail. Quality professionals are lacking”, adds Expósito. In fact, according to the National Construction Confederation (CNC) State of the Workforce I Report, 65% of construction companies find it “extremely difficult” to hire masons, formwork workers, and paver operators in addition to construction managers. . For this reason, the association also calls for the efficient management of European funds to recruit 700,000 professionals.
Source: Informacion
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