Real estate economics
The real estate industry is an industry that is engaged in the development, production, management and marketing of real estate. The real estate market is a market ( in the microeconomic sense) with special properties; an important part of the market is the housing market.
Importance of the real estate industry
The importance of housing and real estate industry can be illustrated on fixed assets. The gross fixed assets of " land and housing " in 2011 was around 6.9 trillion. Euros, about half of the total gross assets. The net assets amounted to 4.4 trillion. Euro, also about half of the total net assets.
The housing and real estate industry contributes significantly to the overall economic performance. In terms of overall economic gross value added of industry of the " land and housing sector " 2012 reaching a share of 10%. This is around 264 billion euros.
Branches of the real estate industry
Regarding the type of real estate, the real estate industry can be divided into the following branches:
- Land Economics: Development and marketing of real estate
- Housing industry: construction, financing, management and marketing of residential real estate, further distinction is made between publicly subsidized housing and freely financed housing
- Commercial real estate industry: construction, financing, management and marketing of commercial real estate
- Operational real estate business: purchase, hire, construction, financing, management, use, utilization of operating real estate
Tasks and actors in the real estate industry
Looking at the tasks or functions related to real estate, so we can distinguish different actors:
- Functional area of land acquisition: private owner, homeowners association, municipal ownership, institutional ownership
- Functional area planning and approval: urban planners, local authorities, building control, architects, engineers, building services engineers, project managers, facility managers
- Functional Area Creation: Building, Construction, Construction, Construction Products Manufacturer
- Functional area management: exchange ( brokers), leasing and property management, maintenance / modernization, supply / waste disposal, cleaning / security, facility managers
- Functional Area Disposal: demolition company, building material recyclers, landfill operators, waste management companies
- Functional area of finance: commercial banks, mortgage companies, insurance companies, building societies, real estate funds, government, private
Core area of housing and real estate industry
As a core area of the real estate industry the management and financing of real estate may apply. The associated tasks plus the control functions in the planning / approval and creation / construction in real estate projects are core functions of real estate companies.
The core areas of management and financing of real estate is often also referred to collectively as housing and real estate business, which focuses on residential real estate including land management, financing and marketing as real estate and housing industry.
Among the actors who are working in the core field of housing and real estate industry, mainly include:
- Real Estate Agents
- Housing companies ( housing associations, housing cooperatives )
- ( Commercial ) property management
- Property Management
- Commercial and mortgage banks
- Real Estate Fund Administrators
- Corporate Real Estate Manager, so employees in the corporate real estate management of a non-property company
Professionals in the real economy
Among the occupations in the housing and real estate industry include, according to the employment agency, BerufeNET example:
Communication
For the industry in the meantime various technical forums have emerged as central places of communication. Here, however, is to distinguish between forums whose target group are mainly non-commercial market participants, that is, private tenants and landlords, buyers and sellers as well as rent and prospective buyers and those forums that addressed only to purely commercial market participants.
The former are generally based on publicly held web forums and content revolve almost exclusively around the thematic areas to rent or buy residential real estate. Due to the mostly missing registration requirements or admissibility to be able to occur with nicknames, the technical and substantive quality of these forums is to assess rather than low.
The industry forums aimed exclusively at commercial industry participants, has proven over the years that only a handful of platforms was able to meet the needs of the professional participants, so that the market for industry forums in the real estate sector is very manageable.