Experts predict rise in property employment

REAL ESTATE JOBS: Number of workers on the rise.

Consultants KPMG are predicting growth in the number of jobs in the property sector in Spain, estimating 10 per cent of workers will be employed in real estate by 2020.

The sector currently employs 7 per cent of the working population in Spain, and as muted predictions of recovery in the market persist, KPMG’s survey of 200 property executives found some confidence in an upturn in jobs.

The study found 55 per cent of the experts interviewed believed the industry would employ between 7 and 10 per cent of the active population within the next five years.

An even more confident 35 per cent predicted the figure would be between 10 and 15 per cent, more like the pre-crisis level when 14 per cent of Spaniards in work were employed in property.

A large majority, more than two thirds, said they felt there would be no real evidence of any recovery in the sector unless the 10 per cent employment marker was reached.

KPMG’s study, entitled ‘2015: year zero for the start of the recovery of the real estate sector in Spain,’ found respondents did not expect a quick recovery, with more than half predicting two years before it takes hold significantly.

However, 35 per cent of those interviewed said they thought demand for housing had already rallied, or would do within 2015. The executives also predicted the sector would claw back a bigger share of Spain’s GDP within five years, though none could foresee a return to the 22 per cent share held by real estate in 2007.

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