Real Estate and Construction Job Market
"Every fifth Finnish employee participates in construction and maintenance of the built environment. In total, approximately 520,000 individuals work in construction, property management, and related services. The cluster is the largest employer in Finland." (Source: RT)
The real estate and construction industry is highly fragmented. Here, we mainly focus on expert and managerial level recruitment related to office spaces and larger construction projects, where the pool of qualified professionals is relatively limited.
The construction industry is highly sensitive to economic cycles. During economic booms, there is a strong demand for labor, as capital investments in individual construction projects often amount to tens or even hundreds of millions of euros. In tightly scheduled and interconnected projects, the shortage of skilled managerial and expert-level professionals can become a bottleneck, prompting companies to retain their expertise even during economic downturns. Notably, with the increasing digitalization in the construction industry, software and automation companies are emerging as increasingly significant players.
In real estate, the business premises sector has experienced a significant transformation in the past two decades, with the influx of foreign operators into Finland leading to rapid internationalization:
- In the early 2000s, the volume of large real estate transactions (over €1 million) was approximately €2 billion annually.
- By 2017, the €10 billion mark had been exceeded.
- During this time, the share of foreign operators in transactions has risen from practically zero to about 50-60 percent.
- As a result, services and companies related to property management, wealth management, trading, and more have seen substantial growth during this period.