Economia serviciilor

Property-related activities are highly diverse and involve, besides property management, also planning, financing and construction activities, valuation, facilities management, as well as consultation or brokerage services. The real estate sector has a higher economic importance than other sectors such as the automotive industry or the healthcare sector. It makes a major contribution to GDP in the European Union and provides prosperity and jobs.

This is the reason for which we chose, as our paper’s subject, the real-estate services, because in Romania, it remains a fast-growing sector and millions of euro are allocated each year for developing, buying and renting buildings, lands, offices etc.

Real estate is one of the most important sectors in the economy. The affordability of real estate, rental prices and changes in those prices has a direct impact on the wealth of property owners and tenants and their consumer spending. Therefore, the development of rents and property prices is not only followed closely by private households that wish to change their housing situation or plan to invest, but also increasingly by the Central Banks. Housing prices are a critical factor in consumer spending and play an important role for price developments. However, in recent years, the interest of Central Banks in real estate markets has gone beyond this direct effect on inflation rates. Nearly all major institutions, such as the European Central Bank, the OECD, the International Monetary Fund and the European Commission, are focused on the dynamics of real estate prices and their influential factors. Researchers and politicians increasingly consider that real estate markets play a decisive role in the transmission of monetary policy impulses. Key interest rate changes can have an intermediate effect on the economy via real estate prices and might influence or initiate upswings and downturns.

This paper’s aim is to analyze the evolution of labor productivity and investments by employed person for the real-estate services, during 2010-2014 in Romania, as well as forecasting future values for the labor productvity for the next 3 years.

Chapter I contains the analysis of the evolution of labor productivity, using different indicators, such as: mean, average index, average annual growth, average annual growth index.

Chapter II analyze the evolution of investments by employed person, using the same indicators as in Chapter I.

In Chapter III we will forecast the values for the years 2015, 2016, 2017, using the 3 indicators: average gain method, average index method, linear trend method.

CHAPTER I: Analyzing the evolution of labor productivity for the real estate services during 2010-2015 in Romania

Year Labor productivity

2010 1152738.7

2011 1184408.9

2012 1921346.8

2013 2003027.7

2014 1822359.1

This chapter presents an overview of statistics for the evolution of labor productivity in the real estate sector.

Number of years => n = 5 years

Average indicators:

y ̅ = (∑y)/n = (1152738.7+1184408.9+1921346.8+2003027.7+1822359.1)/5 = 1616776.24 (lei/pers)

Mean change:

Δ ̅ = (y_n-y_1)/(n-1) = (1822359.1-1152738.7)/(5-1) = 167405.1 (lei/pers)

Average index:

I ̅ = √(n-1&y_n/y_1 ) - => I ̅= ∜(1822359.1/1152738.7)= ∜1.58089 = 1.12

R ̅ = I ̅% - 1 = 12%

The data series has an average annual growth rate of 12%.

The labor productivity for real-estate services increased, on average, by 12%.

y ̅ = 1616776.24 (lei/pers)

The average labor productivity for real-estate services is 1616776.24 lei/pers/year.