Real estate jobs see 8% decline post RERA even as candidates scout for employment

India is seeing a drop in the number of jobs in the real estate sector. A survey by jobs site Indeed said while job searches for real estate profiles grew by 8 percent after the implementation of Real Estate (Regulation and Development) Act (RERA) in May 2017, job postings in the sector declined by the same percentage during the period.

Noida leads with maximum jobs in the real estate sector.

The survey said the slowdown in job creation is indicative of the sector taking time to recover from the Act implemented by the government.

Real estate job postings

After the implementation of the RERA Act, job seekers with experience in civil engineering, electrical engineering, marketing & sales, mechanical engineering, project management, architecture, management & administration, accounting, communications and legal profiles have shown significant interest in working in the real estate sector.

Source: Indeed

The cities that make it to the list of top regions for jobs in the sector are incidentally also seeing burgeoning job growth in other sectors, such as technology and related fields of work. In fact, the influx of job seekers towards other sectors has likely provided a positive impetus to the real estate development of these regions, thus triggering consequent growth in the sector as well.

Sashi Kumar, Managing Director, Indeed India, said, “While the real estate sector is still recovering from the aftermath of RERA, the Act’s stipulated compliances and regulations are expected to unlock potential job opportunities in various capacities."

Indeed’s data also highlights a high level of interest in jobs in the real estate sector among the 36-45-year-old age group of job seekers. While millennial job seekers show the least interest in the sector, an interesting observation is that real estate job opportunities are actively looked for by job seekers in the senior age bracket, i.e. in the 51-65-year-old age group.