But also some European economies worsened their debt situation. Countries such as Greece and Spain pay high rates for their money, whilst the German government receives credit for (almost) free. The European governments seem to have not yet found an appropriate medicine against the virus of Euro crisis. Let us just hope that the ESM give countries some time and strength to re-cover.
The good news is that within the last year at Cobalt we have seen some very positive signs as the German property market continues to be resilient against much of the negative news focused on the Eurozone crisis or the poor economic performances of other European economies. The sustained low interest rates and the comparatively low property prices in major cities like Berlin or Düsseldorf in combination with the stability of the German economy make market entry a more attractive move than ever before.
Currently, the continued optimism of market participants and commitment to the German market from national and international investors has created a huge appetite for capable property specialists. In particular, we have experienced an increase in demand from several organisations looking for high-calibre transaction specialists, property and asset managers, valuation specialists, electricians and construction project managers.
The shortage of qualified and competent real estate specialists is starting to become an obstacle for the growth of the German property market. Many businesses are struggling to recruit skilled real estate professionals and are finding staff retention ever more challenging – particularly when candidates face continuous approaches from head hunters and can choose from multiple opportunities with both their current employers and their competitors. Looking forward, if you are looking to recruit qualified real estate professionals in Germany, please contact your nearest Cobalt Recruitment office to speak to one of our team to find out how we can assist you.
Article first appeared in REurope Magazine, October issue. Written by Richard-Emanuel Goldhahn, Director of Cobalt Recruitment in Germany.