PROPERTY EMPLOYMENT EXPECTED TO RISE IN SPAIN

The number of jobs in the property sector in Spain are expected to rise, according to consultants KPMG. Around 10% of workers are expected to be employed in the property sector by 2020.

Currently the property sector in Spain employs 7% of the working population and, as a result of the expected growth in the Spanish property market, KPMG’s survey of 200 property executives has indicated that there is growing confidence in an upturn of jobs.

According to the study, 55% of property experts interviewed are of the belief that the property sector would employ between 7 and 10% of the active workforce within the next 5 years. Pre-crisis, 15% of Spaniards in work were employed in the property sector.

The study by KPMG, entitled “2015: Year zero for the start of the recovery of the real estate sector in Spain”, found that a quick recovery was not expected. More than half of those surveyed believed that it would take at least two years for the sector to recover significantly.

35% of those surveyed, however, believed that demand for housing had already begun to rally and would continue to do so during 2015. They also predicted that the property sector would gain a larger share of Spain’s total GDP during the next five years, but that it was unlikely that the sector would return to the 22% share it held at the top of the market in 2007.

Filed under: http://www.theleader.info/article/46368/

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