European Council of Real Estate Professions
Annual Report 2012
2012 Table of Contents
D
3 About CEPI
4 President s Report
Claudine Speltz
6 The Competence Profile
A priority dossier for CEPI
12 What is the Future for Professional Services
Regulation, Deregulation or Self-Regulation ?
18 Overview of the European residential real estate market in 2012
26 Member associations
31 2013 Board of Directors
32 Permanent Technical Committees 2013
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Table of Contents
About CEPI
Created in 1990, CEPI, the European Council of CEPI is also an active participant in all the major
Real Estate Professions (in French Conseil euro- discussions and projects regarding the develop-
p�en des Professions immobiliŁres) is an interna- ment of the property market in Europe and a source
tional non-profit making association which has its for legal and market related information within the
headquarters in Brussels. It represents 250000 Internal Market.
professionals  estate agents and property mana-
gers  across Europe. Inside CEPI, both professions Our objectives...
are represented by two professional committees, " To become the favoured reference and the rallying
The association
has 2 professional
namely EPAG for agents, and CEAB for managers. point for European property professionals.
divisions
" To strengthen working relationships between
CEPI s mission is to support European and cross- professionals.
border property transactions by developing the work " To oversee the professional ethics of estate
and activities of real estate professionals with the agents and property managers and the quality of
interests of the consumer in mind. their education.
" To improve market knowledge and to strengthen
Our strengths professional practices.
CEPI has 25 member organizations and partners
in 17 European countries and 6 countries out of ...and how to achieve them
Europe. Recognised by the European institutions " Through lobby both European and national autho-
as the principal representative organisation for real rities with the aim of simplifying real estate trans-
estate professionals, it is as much a common plat- actions and guaranteeing them legal security.
form for estate agents as for property managers. " By promoting research into property markets and
services in order to gain concrete knowledge,
CEPI builds projects in collaboration with more than analyse and publish it.
50 European educational establishments. We have " By supporting the education of future real
developed a detailed code of ethics and minimum estate professionals via common educational
requirements of professional education in accor- programmes such as  Eureduc , as well as the
dance with the wishes of our members. ongoing education of professionals.
" By developing our own projects including a
European education platform and a European
information portal on the market and legislation.
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President s Report
The Single Market is the cornerstone of the EU and the European Parliament in charge of the revision
is the source of much legislation which is relevant to of the Directive on Professional Qualifications and
property professionals. It celebrated its 20th anni- with representatives of the Council s Presidencies.
versary and whilst there it has achieved a great deal Specific attention was further given to the new
it is acknowledged by the EU that there are gaps Directive on anti-money laundering and a position
and areas in which it needs to be strengthened in paper was sent and discussed with the European
order to achieve a stronger EU economy and more Commission and Parliament since last June.
economic growth. Another position paper was prepared to answer a
draft directive on credit agreements relating to resi-
On 13 April 2011 Internal Market Commissioner dential property.
Michel Barnier published 12 proposals to be imple-
mented in the Single Market Act. On 3 October 2012 Water efficiency of buildings, mortgage credit, insur-
the Commission published the Single Market Act ance mediation, anti-money laundering are among
Claudine Speltz,
II, containing 12 additional priority actions for new other issues that the European legislator is taking
President
growth. The revision of the Directive on Professional care of and impact on the real estate professionals.
Qualifications, a Directive on Alternative Dispute Recent initiatives pertaining to the Services Directive,
resolution and another one on Standardization all energy efficiency, financial regulation, economic
are at the heart of this initiative. governance, state aid and social housing have been
carefully monitored and reported.
For three years now, a lot of lobbying efforts have been
put on the revision of the Directive on Recognition During the second half of 2011, CEPI started work
of Professional Qualifications, including a series of on revision of the education criteria. A European
meetings with Members of Parliament, civil servants competency profile has been developed for estate
and representatives of Permanent representations. agents and property managers. This is distinct from
Position papers and additional letters were discussed the traditional system that stresses "learning acqui-
with the Rapporteur within the IMCO Committee of sition" such as the length of the learning experience,
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most often measured in credit hours, and attempts CEPI has repeatedly been congratulated by external
to define the knowledge from training judged neces- parties for its website which conveys the percep-
sary for providing high-quality property service. This tion of an important and well established organisa-
work should aid the educational partners in ensu- tion in Brussels. It is therefore no surprise that half
ring a more effective level of comparison between of the increasing number of visitors are Brussels
academic and professional institutes. Beyond its based stakeholders, which represent a most impor-
educational relevance, it turns out as well that the tant support to the lobby efforts. The efficient orga-
project of developing competency profiles serves to nisation of the Lobby Week, the proper editing and
relate numerous policy dossiers. targeting of position papers and messages to the
European Institutions further contribute to streng-
Communication cannot just be reduced to an then our Brussels based network and get credibi-
Internet site. It is even not a series of activities that lity among the many beneficiaries of the CEPI work.
aims at giving some visibility to the organisation.
Communication is a fundamental dimension of all Attention is finally drawn to a very interesting project
policy and education efforts, and it accompanies which aims at extending a successful market survey
all market related and other CEPI projects with the that was initiated by M�klarsamfundet in 2009 and
aim to ensure best possible participation and repre- extended to the Nordic associations in 2010. It is
sentation of the CEPI network and with a view to proposed to organize common surveys, led and
position the organization effectively towards the EU controlled by member organizations. It builds on
institutions, the lobby organizations in Brussels and experience and expertise of some member organiza-
the major European stakeholder groups in the real tions, which makes it possible to build in flexibility to
estate sector. This was made explicit again while face very different situations and operational capaci-
participating in the PREF Congress in Warsaw (PL). ties within participating associations. CEPI member
The organisation of a seminar with CGCAFE in organisations expressed interest and for part
Barcelona also received a very positive feedback. confirmed willingness to participate in this project.
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The Competence Profile
A priority dossier for CEPI
European versus national regulation
The single market is all about enabling everyone in Notwithstanding this matter of principle, it is our
the EU  individuals, consumers and businesses experience that the EU does in fact take a direct
 to make the most of the opportunities offered to and increasing interest in property related matters.
them by having direct access to 27 countries and It does so in two different ways. On the one hand,
480 million people. This represents an opportunity the need to reinforce the European Single Market
and a challenge for real estate professionals whose imposes the need for action to remove remaining
work is sometimes cross-border, is regularly chal- barriers between Member States; professional regu-
lenged by international players and competitors, and lations at national level are in part perceived to repre-
is in many instances influenced or determined by sent such barriers and many professions including
European or international rules of the game. the real estate ones are therefore faced with a trend
to deregulate. On the other hand, as the current
Mark Van De Woestijne
Therefore, European regulation for the real estate financial and debt crisis call for urgent and proactive
Pr�sident du CTP formation
professions has long been an objective of and action to strengthen the European economic area,
desired output for lobbying efforts in Brussels, such heads of governments of the EU Member States are
as applies already for example to lawyers, medical being called on to give more room for manoeuvre
professions and architects. Nevertheless, it has to the European legislator and executive to impose
repeatedly been made evident that this as such is more common economic and financial rules.
not a realistic scenario. Real estate is a matter of
national competence and the EU does not intend to The Directive on credit agreements relating to resi-
take direct action in respect of it. dential properties as well as the Capital Requirements
Directive are both likely to affect the supply of
mortgage credit and so national property markets.
The Services Directive is all about mobility and is
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1
EU measures and decisions
intended to pave the way to easier service provision it inevitable that the revised Energy Performance
serve the common interests of
abroad. The revision of the Directive on Professional of Buildings and Energy Efficiency Directives touch
the Member States, in that they
contribute to position them toge-
Qualifications aims at supporting mobility by provi- on the real estate sector1 and represent a most
ther more strongly on the glo-
ding more transparent and accelerated procedures to important challenge for the property managers in
bal market. The EU receives a
mandate in respect thereof and
give recognition to professional qualifications which particular.
has been given a lot of room for
may vary between countries. The European Council
manoeuvre in areas such as
energy. The EU also receives a
recently issued country-specific recommendations As a matter of fact, access to and the exercise of
lot of power to make the Internal
to all EU Member States on their economic and fiscal some professions such as the real estate ones tend
Market a reality for professionals:
policies including some national housing markets, so to be increasingly affected by different EU measures. the free movement of goods has
been a reality for over twenty
applying economic surveillance and imposing  stabi- Think of environmental, consumer related and finan-
years; people move freely throu-
lisers to keep national economies within specific cial obligations, representing a rosary of points and
ghout the European area and the
Erasmus programme is probably
limits. Economic governance and financial control obligations real estate professionals have to comply
one of the most successful and
are amongst the ways in which the EU is imposing with. These EU measures become challenging for
visible outcomes of the European
construction; the current crisis is
rules to strengthen a Single European Market, with a a specific profession when they can be linked and
currently harmonizing rules of the
direct and indirect impact on real estate professions even clustered. Such is the case at present for a
game in the financial sector; ne-
vertheless, the freedom to provide
and professionals, as well as certain specific legisla- number of policy dossiers of direct interest to CEPI.
services remains probably the
tive proposals.
most difficult area in the develop-
ment of the European Single Mar-
With this note, we would like to demonstrate and
ket so far, and it is the area that
These and other decisions to encourage people make explicit how policy dossiers need to be looked
is most protected by the national
and professionals to access the different markets at together, as they impact on each other and toge- Member States. When touching
on areas of national competence,
within the European area evidently impact real ther contribute to the formation of a European frame
EU measures are mostly justified
estate professionals. For example, the great poten- for the provision of services by and the mobility of by the need to limit or correct risk
factors that threaten to seriously
tial for energy saving in the use of buildings makes real estate professionals in Europe.
disturb the Single Market and its
development.
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The Competence Profile
A priority dossier for CEPI
The example of the Competence Profile
CEPI is working on a competence profile for real estate agents and An output driven approach should also contribute to the compa-
property managers. This is an important project in its own right rison and formalization of different learning paths. The Bologna
in that defining the competences required and expected of real process created the European Higher Education Area and lear-
estate agents and property managers is necessary for an unders- ning outputs contributed to the alignment of a number of academic
tanding of their professional role. It is also important because the programmes throughout the EU. The Copenhagen process, which
element of professional competence is being applied more and lays the basis for co-operation in vocational education and training,
more to different issues at EU level. boosted the development of a common approach to evaluation
based on results, rather than length of study or type of institution.
The project to work out a competence profile for part is an educa- Very recently, the European Commission also published a proposal
tional one. Indeed, it aims at revising the existing minimum criteria for a Recommendation on the validation of non-formal (outside the
(within the current Eureduc project) and prospectively including formal system) and informal (by doing) learning. It confirms this as
a request for training that should answer recent and anticipated being an essential contribution to greater economic growth in the
professional developments. EU by increasing the transparency of competences and also by
making mobility easier. It follows on from a series of initiatives since
The competence profile is also part of a series of educational the Copenhagen Process and includes the recommendation that
reforms at EU level, which promote greater comparability between Member States have in place by 2015 national systems for the vali-
the qualifications of professionals from different EU Member dation of non-formal and informal learning providing the opportu-
States and thereto focuses increasingly on learning outcomes, nity for all citizens to have their competences validated, irrespective
which should make it easier to compare qualifications which are of where the learning took place. This validation provides the basis
understood as being a set of competences (knowledge, skills and on which the award of a full or partial qualification takes place.
attitudes) which are needed to exercise a profession.
These education measures concern a movement from  teaching
only knowledge to a broader competence-based approach which
puts more emphasis on acquiring knowledge, skills and attitudes.
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What is the relevance to policy dossiers being worked on by CEPI ?
The element of competence features directly in a and may well ease comparability by facilitating the
number of priority policy dossiers : development of a common training framework.
1. The revision of the Directive on the Recognition 2. The Services Directive
of Professional Qualifications
The Services Directive is to remove unjustified
One of the objectives of the modernisation of the barriers to the exercise of cross-border services but
Directive is to bring it into greater alignment with it also :
the European Higher Education Area. The proposal " includes provisions relating to the quality of
includes the possibility of training frameworks based services and encourages the setting up of
on a common set of knowledge, skills and compe- codes of conduct by professional associations,
tences (and with reference also to levels established certification by independent bodies and the
by the European Qualifications Framework). drawing up of quality charters;
" requests Member States to encourage
The proposal also introduces the possibility of the professional bodies to promote the quality of
development of a European Professional Card for service provision, especially by making it easier
different professions, based on a transparent and to assess the competence of a provider;
efficient system of recognition of qualifications " encourages Member States to support the
acquired in differing national environments. Such a development of voluntary European standards.
system would benefit form clear and univocal points
of reference. A European Competence Profile, based The development of a competence profile is of
on learning outcomes and output driven, aims at direct relevance to these provisions and will there-
contributing to an easier comparison of qualifica- fore contribute to greater mobility.
tions acquired in different national environments,
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The Competence Profile
A priority dossier for CEPI
3. Standardisation 4. Alternative Dispute Resolution
This is foreseen in the Services Directive and has recently The EU is introducing new legislation in this area to include a
been formalised in the form of a new Regulation on European Directive on Alternative Dispute Resolution and Regulation on
Standardisation. Amongst its objectives are to enable the deve- Online Dispute Resolution. This is important for the development
lopment of European service standards, facilitate the participation of dispute resolution schemes in EU countries. It is also linked
of stakeholders in the standardisation process, improve planning to another important dossier for CEPI on a related topic, conflict
through the establishment by the Commission of an annual work prevention, aimed at early intervention to prevent disputes from
programme identifying priorities for European standardisation. arising. For such measures to be successful it is important to be
clear what competences are to be defined and expected from
There is an existing CEN standard for estate agents which has professionals.
recently been confirmed by the CEN following its own internal
review process. This standard is based on 120 ECTS. It is reco- 5. Corporate Social Responsibility
gnised that, this standard now having been in existence for several
years, this does not reflect current developments with regard to the All of these dossiers also related to behavioural skills. Corporate
educational reforms highlighted previously. Therefore it is proposed social responsibility (CSR) is of increasing importance to busi-
to request that an amendment be made to the existing standard in nesses and something which the EU is eager to promote. In
this respect basing it rather on competences. Defining an accurate October 2011 the European Commission published a new policy
competence profile is a vital starting point for this work. on CSR setting out a strategy for 2011 to 2014. This includes
improving self and co-regulation processes. It also includes the
establishment of sector-based platforms for enterprises and stake-
holders to make commitments and monitor progress. The develop-
ment of a competence profile is an important tool to complement
such initiatives.
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Recognition of
Apart from these specific examples
Professional
the development of a competence
Qualifications
profile could also be relevant to
other dossiers such as, for example,
anti-money laundering legislation
Output driven
and energy efficiency in respect of
Corporate Social
approach and
which more, and often technical requi-
Responsibility
educational
rements are being imposed by EU
(Behavioural
reforms
legislation which have a bearing on
skills)
the competences of the professionals
working in the property sector.
COMPETENCE
PROFILE
Alternative
Services Directive
Dispute Resolution
Mobility
(Conflict
Output Driven
prevention)
Standards
(120 ECTS and
EPAG)
Certification,
Recognition
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What is the Future for Professional Services
Regulation, Deregulation or Self-Regulation ?
The regulation of the access to and right to exercise tend to be to provide legal security for professionals
a profession is a matter of national competence. It and consumers and also to guarantee the quality of
is therefore an issue where different regulations exist services. The arguments put forward for deregula-
according to local practices. It is also an issue that tion include the need to encourage greater mobility
is in need of a common frame to make a European amongst professionals and provide more competi-
Single Market work. tion in the market for professional services which
brings more entrants to the market and so reduces
It is no different in the real estate sector. Substantial costs and contributes to economic growth. Behind
differences exist in the levels of professional require- the arguments for either side may also be a more
ments between EU Member States. There is no one hidden agenda concerning the protection of certain
piece of legislation which covers all the real estate markets and vested interests.
professions at European level. Nevertheless there
are developments at EU level which do impact on Alongside these fundamental economic and poli-
Xavier Ortegat
professional services in different ways both directly tical arguments about regulation and deregulation
Managing Director
and indirectly. there are also discussions about the greater use of
Consorte sprl
self-regulation. The self-regulation of professional
There is an ongoing debate about regulation or services has been traditionally favoured in some
deregulation in the EU which is both political and Member States and is now being promoted in others
economic in context. To follow this debate it is as an alternative form of regulation. These differing
important to look both at the reasons behind the ideas as to the future of professional services present
regulation of professional services and behind argu- both challenges and opportunities for professional
ments for their deregulation. In general the reasons associations in the real estate sector.
given for the introduction or retention of regulation
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Regulation
Real estate professions are regulated in a number substantial. Initiatives such as the European profes-
of different EU countries. In certain countries regu- sional card aim at making administrative procedures
lation is being introduced, as was done in Ireland in more transparent and effective. Common training
2012 with the establishment of the Property Services frameworks, based on a common set of knowledge,
Regulatory Authority. Preparatory work is being done skills and competence necessary to pursue a profes-
by the Czech authorities towards some regulation of sion, should result in qualifications recognised auto-
real estate professionals in their country. matically in other participating Member States.
It is clear also that there are some other countries The European legislator has had to be quite creative
which are regulated and are likely to remain regu- in order to allow unregulated professions to benefit
lated. These include for example Belgium, where IPI from the above initiatives. Thus it proposes that
Janet K. Griffiths
is charged with the regulation of real estate professio- countries where the profession  or the professional
Policy Analyst
nals and France, which already has regulation inclu- education is regulated can take part in common
Operex sprl
ding the requirement of a professional card and is training frameworks. It also suggests that a profes-
considering the introduction of a national supervisory sional card can be delivered to unregulated profes-
structure. In the short-term it is difficult to foresee sionals provided that they can provide evidence of
a substantial change of direction for such countries. substantial professional activity in recent years.
Regulation is also recognized at European level by These initiatives present interesting possibilities
the Directive on the Recognition of Professional for real estate professionals and the conclusion of
Qualifications adopted in 2005 (currently under negotiations on the provisions of the Directive which
revision) taking into account the differences which is expected this year is likely to prompt further
still exist and which must sometimes be compen- discussion about the qualifications and status of
sated for in the event that those differences are professionals.
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What is the Future for Professional Services
Regulation, Deregulation or Self-Regulation ?
Deregulation
Whilst finalizing the discussion about the Directive on Recognition The European Union is now planning a mutual evaluation or trans-
of Professional Qualifications, we also discern a movement towards parency exercise between Member States which will require them
the deregulation of professional services in Europe. to evaluate further and justify remaining professional restrictions.
This will involve looking very carefully at the situation in different
For the proponents of deregulation, professional restrictions at a Member States and the reasons behind regulation, or indeed
national level make it difficult for a professional to exercise the experiences with deregulation where it has already taken place. It
right of free movement guaranteed by EU law and are perceived as is likely that the transparency exercise will provoke further discus-
barriers which interfere with the efficient operation of the internal sion about deregulation.
market in the EU. To answer this concern, successive measures
have been taken which aim to tackle restrictions which go beyond The European Semester exercise, the EU s new annual form of
what is perceived as reasonable or necessary. The adoption of the economic governance, which results in the issue of country-specific
Services Directive in 2006 was a landmark in terms of the cross- recommendations to Member States by the European Council, is
border mobility of services. also notable with regard to its references to professional services.
This is in the context of the promotion of economic growth and
The deregulation of real estate brokerage is a fact in some European avoidance of anti-competitive practices both at EU and national
countries, for example since 2002 in the Netherlands. In Spain level. In general it is recommended that Member States remove
this is prompted to a large extent by ongoing discussions concer- restrictions in the form of professional regulations when they are
ning the status of the Spanish colegios or  guilds which are in seen as obstacles to further economic growth thus leading to
the process of being reformed. In Poland and Portugal the real additional pressure for deregulation. Specific recommendations
estate professions are amongst those for which legislation remov- along these lines have now been addressed to different Member
ing requirements concerning the requirement for the holding of a States. Failure to comply with such recommendations may result
professional licence has been passed. in sanctions.
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Indirect regulation
Whilst acknowledging this trend towards deregulation, it has to be proposals for a directive on mortgage credit impose rules regulating
recognised that the EU does not cease to enact legislation which the activities of credit intermediaries. Equally the current proposal
impacts on the work of professionals, including those in the real for the revision of the Insurance Mediation Directive imposes rules
estate sector. In fact one of the more lasting effects of the financial on insurance intermediaries. Real estate professionals extending
crisis has been a focus on risk and a greater interest in imposing their activities into these areas will be concerned by these rules.
regulation where it is seen to be necessary to control that risk. This These rules reflect the concern over the lack of regulation in the
has resulted in a large body of legislation which can impact on real financial sector and the perceived need to introduce more regula-
estate professionals in different ways. tion to avoid a repeat of the problems at the root of the crisis.
This does not mean that the EU is likely to put forward a proposal Perhaps most notably estate agents are firmly within the frame of
for legislation concerning the real estate professions, but rather the legislation on anti-money laundering which imposes require-
that it is effectively doing so in a roundabout way, in what could ments and sanctions which must be taken seriously. The current
be considered a form of backdoor regulation which may in the proposal for the revision of the Third AML Directive contains a
long term force further consideration of regulation of professional requirement that steps must be taken by EU Member States
services at a national level. to ensure that criminals or their associates are prevented from
being the beneficial owner of or holding a management function
Examples include the body of legislation on energy efficiency, in estate agencies. This presupposes a requirement to carry out
which is of increasing importance for the real estate sector. The prior criminal checks on those wishing to access the profession.
recast Energy Performance of Buildings Directive imposes requi- It also leads us to question how this can realistically be expected
rements with which all real estate professionals will be familiar in to work without the introduction of some form of regulation of the
their working lives in the form of energy performance certificates profession, particularly as this relates specifically to access to the
to be made available when properties are sold or let. The current profession.
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What is the Future for Professional Services
Regulation, Deregulation or Self-Regulation ?
Self-regulation Conclusion
Another element in the debate as to the future of professional Conclusions so far are threefold. Firstly in all the discussion about
services is that of self-regulation. It may be anticipated that a result regulation and deregulation, which is economic and political, it
of a reduction in regulation at national level, and a general unwil- must be remembered that deregulation is not the final word and
lingness to introduce the regulation of professional services at de facto is not the inevitable conclusion for professional services.
European level, will be a growth in self-regulation. Some countries will never deregulate for political reasons.
Self-regulation has long been a strong tradition in some European Secondly there is a pressure towards more deregulation which is
countries, notably the United Kingdom where designated self- likely to be accompanied by increasing support for new self-regu-
regulatory bodies appointed by the authorities in effect regulate lation measures.
certain professions taking into account the public interest.
Thirdly the real estate professions are, and are likely to remain
The Netherlands deregulated the real estate professions in 2002. semi-regulated. Inevitably this means that there will continue to be
A private certification scheme was established and such certifica- huge differences between countries for the time being. At some
tion is a requirement for membership of the NVM. Essentially this point these differences will have to be addressed and possibly
amounts to self-regulation and evidently professional associations confronted and the European Union will have to play a more impor-
have an important part to play in any such developments. tant role in harmonizing regulations. De facto intervention of the
European legislator is already evident through indirect regulation.
The Italian Parliament passed a legislative act last January with
regard to unregulated professions which promotes voluntary self- We cannot yet be certain about the final outcome of the debate
regulation alongside initiatives with the encouragement of the autho- concerning regulation. The Communication on Regulated
rities leading to the introduction of codes of ethics by professional Professions due to be published by the European Commission
associations. In Poland, where, as already mentioned the profes- later this year to prepare the mutual evaluation exercise with EU
sions are being deregulated there are discussions which could Member States required by the revised Directive on the Recognition
possibly lead to a common training framework. It may be expected of Professional Qualifications should provide some clarity about
that there will be further such initiatives in different countries. the reasoning behind the decisions to be made, but it has to be
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understood that the main objective of that exercise
is to evaluate whether regulation or deregulation
makes sense for certain professions, not to deregu-
late in all cases. Therefore the discussion concer-
ning regulation, deregulation, indirect regulation and
self-regulation is likely to remain for some time an
important topic for real estate professionals and one
in which CEPI will continue to take part.
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Overview of the European residential real estate market in 2012
These are not official statistics. Belgique  Belgi� (BE) L�tzebuerg (LU)
The reported figures are average Institut professionnel des Agents immobiliers Chambre ImmobiliŁre du Grand Duch�
estimated figures noted in 2012. (IPI-BIV) de Luxembourg (CIGDL)
Many thanks to the following
associations for their collaboration. 
esk� republika (CZ) Magyarorsz�g (HU)
Asociace realitn�ch kancel�Y
� 
esk� republiky Magyar Ingatlangazd�lkodók Sz�vets�ge
(ARK CR) - Hungarian Association of Real Estate
Management (HAREM)
Danmark (DK)
Nederland (NL)
Ejendomsforeningen Danmark (EDA)
Nederlandse Vereniging van
Makelaars in onroerende Goederen en
Deutschland (DE)
Vastgoeddeskundigen (NVM)
Immobilienverband Deutschland IVD,
Bundesverband der Immobilienberater, Makler,
�sterreich (AT)
Verwalter und Sachverst�ndigen e.V. (IVD)
Fachverband der Immobilien- und
Verm�genstreuh�nder (FIV)
Espańa (ES)
Consejo General de Colegios de
Polska (PL)
Administradores de Fincas (CGCAFE)
Polska Federacja Rynku Nieruchomości (PREF)
France (FR)
Suomi  Finland (FI)
Syndicat national des Professionnels immobiliers
Kiinteist�nv�litysalan Keskusliitto ry (KVKL)
(SNPI)
Sverige (SE)
Ireland (IE)
M�klarsamfundet (M)
The Society of Chartered Surveyors Ireland
(SCSI)
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1 Economic Data and Market Environment
total population in million in 2012 (1) GDP/capita in PPS (2012) (1) (2) inflation rate in 2012 (%) (1)
0 20 40 60 80 100 120 0 50 100 150 200 250 300 -1.0 0 1.0 2.0 3.0 4.0 5.0 6.0 7.0
BE BE BE
11 094 850 119 2,6
CZ CZ CZ
10 505 445 79 3,5
DK 5 573 894 DK 125 DK 2,4
DE 81 843 743 DE 121 DE 2,1
ES 46 196 276 ES 97 ES 2,4
FR 65 327 724 FR 108 FR 2,2
IE 4 582 769 IE 129 IE 1,9
IT 59 394 207 IT 98 IT 3,3
LU 524 853 LU 271 LU 2,9
LV 2 041 763 LV 70 LV 2,3
LT 3 003 641 LT 62 LT 3,2
HU 9 932 000 HU 66 HU 5,7
NL 16 730 348 NL 128 NL 2,8
NO 4 985 870 NO 195 NO 0,4
AT 8 443 018 AT 131 AT 2,6
PL 38 538 447 PL 66 PL 3,7
PO 10 542 398 PO 75 PO 2,8
RO 21 355 849 RO 49 RO 3,4
SI 2 055 496 SI 82 SI 2,8
FI 5 401 267 FI 115 FI 3,2
SE 9 482 855 SE 128 SE 0,9
CH 7 954 662 CH 160 CH -0,7
IS 319 575 IS 112 IS 6,0
(1) Eurostat
(2) Purchasing power standard rate (EU27=100)
19
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Overview of the European residential real estate market in 2012
2 General data / dwellings
interest fixed rate on loans (residential) (%) average interest rate for loans (20 years) - average floating rate at initial
initial rate fixation rate fixation of up to one year*
0 2 4 6 8 10 12 0 2 4 6 8 10 12
0 2 4 6 8 10 12
BE BE 3,8 BE 2,8
3,1
CZ CZ 4,49 - 4,55 CZ 3,59 - 3,64
3,79 - 3,85
DK DK 3,928 * 1,223
DK
2,73 *
DE ES 6,3 - 7,95 4,45
ES
2,75 - 3,1
ES FR 3,5 3,5
FR
5 - 6
FR NL 5,6 3
NL
3
IE SE na 2,95
SE
5,34
LU
2 - 4
(*) for 10 years and more
HU
na
NL
4
AT
3 - 3,5
PL
5 - 7
FI
na
SE
3,85
(*) 5 - 10 years
20
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2 General data / dwellings
average duration of loan (years) number of households benefiting from average % of the loan in relation to
a loan for a house in 2012 (%) the value of the property purchased
0 5 10 15 20 25 30 35 -20 0 20 40 60 80 100 0 20 40 60 80 100 120 140
BE BE BE
20 2 753 000 ** na 80
CZ CZ CZ
10 - 15 16 800 ** na na
DK DK DK
30 * 99% na
DE DE DE
15 50% 60
ES ES ES
22 -33% * 80
FR FR FR
17,3 -25% 72
IE IE IE
30 na 90
LU LU LU
25 1,44% 50 - 80
HU HU HU
20 15% na
NL NL NL
30 195 000 ** na 116
AT AT AT
20 na 70
PL PL PL
5 - 7 -6,25% * 25 - 35
FI FI FI
na na na
SE SE SE
na na 69
(*) evaluation (*) compared to 2011
(**) number of households
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Overview of the European residential real estate market in 2012
2 General data / dwellings
Local, regional Local, regional
or national / or national
VAT rate on January 1st, number of building permits number of dwellings built in 2012
federal financial / federal
2012 (%) delivered in 2012
incentives to incentives for
low income renovation of
households buildings
reduced rate
0 100 200 300 400 500 600 0 100 200 300 400 500 600
normal rate (refurbish-
(new) ment)
BE BE
BE
46 884 na �� ��
BE 21 6
CZ CZ
CZ
23 853 29 477 �� ��
CZ 21 15
DK DK
DK
10 942 13 851 �� ��
DK 25 -
DE DE
DE
240 000 na �� ��
DE 19 -
ES ES
ES
44 697 44 697 �� ��
ES 21 10
FR FR
FR
495 000 445 000 �� ��
FR 19,6 7
IE IE
IE na
na 8 500 ��
IE 13,5 -
LU LU
LU na na
3 000 na
LU 15 * 3 **
HU HU
HU
13 000 200 �� ��
HU 27 -
NL NL
NL
9 343 57 703 �� ��
NL 21 6
AT AT
AT
37 700 na �� ��
AT 20 -
PL PL
PL
207 142 86 162 �� ��
PL 23 8
FI FI
FI
31 581 30 538 �� ��
FI 24 -
SE SE
SE
3 409 25 993 �� ��
SE 25 -
(*) 3% under certain conditions �� = yes
(**) under certain conditions �� = no
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house : detached house, which is at least 10 years old, in good condition, of about 150 sq m
3 Market Data
apartment : 2 bedrooms apartment, which is at least 10 years old, in good condition
3.1. SELLING
evolution (%) of sale prices evolution (%) of sale prices % of price increases or decreases
for houses in 2012 compared for apartments in 2012 expected in 2013
to 2011 compared to 2011
-10 -5 0 5 10 -5 0 5 10 15 -5 0 5 10 15
BE BE BE
2,7 3,3 0
CZ CZ CZ
1,7 -7 * 2
DK DK DK
-3,3 0 2
DE DE DE
2,8 3,1 3 - 4
ES ES ES
-10 -10 10 - 13
FR FR FR
-2,26 -0,85 0
IE IE IE
-4 4 + *
LU LU LU
1,01 2,6 na
HU HU HU
-5 -5 5
NL NL NL
-6,63 -5,96 -5 / -7
AT AT AT
4,5 6,2 3 - 5
PL PL PL
na -6,72 na
FI FI FI
-0,2 1,7 1,5 - 3
SE SE SE
2 8 + **
(*) Prague: +0,2 (*) dependant on the location
(**) slight for houses, a bit more for apartments
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Overview of the European residential real estate market in 2012
3 Market Data
3.2. RENTING 3.3. PROPERTY MANAGEMENT
evolution (%) of rental price for houses evolution (%) of rental price for apartments Average fees in use
in 2012 compared to 2011 in 2012 compared to 2011 for property managers
-2 0 2 4 6 8 -5 -4 -3 -2 -1 0 1 2 3 4 5 6 7
BE BE BE 17Ź / month / unit
0 2
CZ CZ CZ no norm
1,8 1,8
DK DK DK no norm
2,7 2,7
DE DE DE 25Ź / month / unit
4,2 4,2
ES ES ES 1 - 6Ź / month / unit
-3,8 -3,8
FR FR FR 15Ź / month / unit
0,9 0,9
IE IE IT 4 - 7Ź / month / unit
+ * na
LU LU IE 0,25Ź / m�
-0,99 1,02
HU HU LU 15 - 25Ź / month / unit
2 - 3 2 - 3
NL NL HU 6 - 8Ź / month / unit
-2,3 -2,3
AT AT NL 23Ź / month / unit
na 4,4
PL PL AT 0.27Ź / month / m�
na -4,5
FI FI PT 1% of the rent
6 3,7
SE SE FI 0.30Ź / month / m�
na na
(*) depending on the location
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4 Professionals
number of individual property agents number of individual property managers
in the country in the country
0 5 000 10 000 15 000 20 000 25 000 30 000 35 000 0 5 000 10 000 15 000 20 000 25 000 30 000 35 000
BE BE
6 500 2 500
CZ CZ
12 400 * 3 300 *
DK DK
3 154 3 104
DE DE
12 000 na
ES ES
na 15 480
FR FR
27 000 9 000
IE IE
4 000 900
LU LU
400 150
HU HU
10 000 10 000
NL NL
6 800 na
AT AT
2 500 2 500
PL PL
19 344 24 655
FI FI
1 450 ** 700 **
SE SE
2 970 *** na
(*) estimation (*) estimation
(**) agencies (4 430 workers) (**) offices (2 500 workers)
(***) agencies + 6 724 workers
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Member associations
Members of the European Union
Belgique  Belgi� Danmark Deutschland
Dansk Ejendomsmaeglerforening (DE)
Institut professionnel des Agents immobiliers Islands Brygge, 43 Dachverband Deutscher Immobilienverwalter
(IPI-BIV) DK  2300 Kłbenhavn S e.V. (DDIV)
rue du Luxembourg 16b t: 45 70 25 09 99 f: 45 32 64 45 99 Dorotheenstra�e 35
BE  1000 Bruxelles [e-mail] www.de.dk DE  10117 Berlin
t: 32 2505 38 50 f: 32 2503 42 23 t: 49 30 300 96 79-0 f: 49 30 300 96 79-21
[e-mail] www.ipi.be [e-mail] www.ddiv.de

esk� republika
Ejendomsforeningen Danmark (EDA)
Nłrre Voldgade, 2
DK  1358 Kłbenhavn K Immobilienverband Deutschland IVD
t: 45 33 12 03 30 Bundesverband der Immobilienberater,
Associace realitnich k�ncelaY
i 
esk� republiky [e-mail] Makler, Verwalter und Sachverst�ndigen e.V.
(ARK CR) www.ejendomsforeningen.dk Littenstrasse, 10
Straa
nick� 1b DE  10179 Berlin
CZ  102 00 Praha 10 t: 49 30 27 57 26-0 f: 49 30 27 57 26-49
t: 420 272 762 953 f: 420 272 766 401 [e-mail] www.ivd.net
[e-mail] [e-mail]
www.arkcr.cz
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Espańa France Italia
Asociación Empresarial de Gestión Inmobiliaria
c/Maldonado 52  1�B F�d�ration nationale de l Immobilier (FNAIM)
ES  28006 Madrid 129, rue du Faubourg St Honor� Associazione Nazionale Amministratori
t: 34 91 444 88 10 f: 34 91 444 88 23 FR  75008 Paris Condominiali e Immobiliari (ANACI)
[e-mail] www.aegi.es t: 33 1 44 20 77 00 f: 33 1 42 25 80 84 Via Cola di Rienzo, 212
[e-mail] www.fnaim.fr IT  00192 Roma
t: 390 6 321 49 63 f: 390 6 321 71 65
[e-mail] [e-mail]
www.anaci.it
Consejo General de Colegios de
Administradores de Fincas (CGCAFE) Syndicat national des Professionnels
Plaza del Marqu�s de Salamanca, 10 3� Izqda immobiliers (SNPI)
ES  28006 Madrid 26 avenue Victor Hugo
t: 34 91 576 92 17 f: 34 91 575 12 01 FR  75116 Paris
[e-mail] www.cgcafe.org t: 33 1 53 64 91 91 f: 33 1 53 64 91 92
[e-mail] www.snpi.com
Union des Syndicats de l Immobilier (UNIS)
60, rue Saint Lazare
FR  75009 Paris
t: 33 1 55 32 01 00 f: 33 1 55 32 09 99
[e-mail] www.unis-immo.fr
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Member associations
Members of the European Union
Ireland Nederland Polska
The Society of Chartered Surveyors Ireland Nederlandse Vereniging van Makelaars in Polska Federacja Rynku Nieruchomości (PREF)
(SCSI) onroerende Goederen en Vastgoeddeskundigen ul. Swietokrzyska 36 suite 8
38, Merrion Square (NVM) PL  00-116 Warszawa
IE  Dublin 2 Fakkelstede 1 t: 48 22 654 58 69 f: 48 22 825 34 95
t: 353 1 644 55 00 f: 353 1 661 17 97 NL  3431 HZ Nieuwegein [e-mail] www.pfrn.pl
[e-mail] www.scsi.ie t: 31 30 60 85 185 f: 31 30 60 34 003
[e-mail] www.nvm.nl
�sterreich Polska Federacja Stowarzyszen Zarządców
Irish Property and Facility Management Nieruchomości (PFSZN)
Association (IPFMA) ul. Novogrodzka 49 pietro IV pok.2
38, Merrion Square PL  00-695 Warszawa
IE  Dublin 2 Fachverband der Immobilien- und t: 48 22 522 84 05 f: 48 22 622 11 32
t: 353 1 644 55 20 f: 353 1 661 17 97 Verm�genstreuh�nder (FIV) [e-mail] www.pfszn.pl
[e-mail] www.ipfma.com Wiedner Hauptstra�e, 57, Stiege II 
2. Stock  Top 5 Portugal
L�tzebuerg AT  1040 Wien
t: 43 590 900-5522 f: 43 590 900-115522
[e-mail] www.wkimmo.at
C�rculo Imobili�rio
Chambre ImmobiliŁre du Grand-Duch� Edificio Saldhana Residence
de Luxembourg (CIGDL) A. Fontes P. de Melo  42-porta 2i  1.�-escrit. 13
rue Alcide de Gasperi, 7 PT  1050-123 Lisboa
LU  1615 Luxembourg t: 351 213 57 62 51 f: 351 213 57 62 62
t: 352 43 94 44-1 f: 352 43 94 50 [e-mail]
[e-mail] www.cigdl.lu
28
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Associated Members
Suomi  Finland Conf�d�ration helv�tique
Suomen Is�nn�intiliitto ry (FREMF)
Runeberginkatu 5, 5. krs Schweizerischer Verband der
FI  00101 Helsinki Immobilienwirtschaft (SVIT Schweiz)
t: 358 9 5658 310 f: 358 9 2787 364 Puls 5, Giessereistrasse 18
[e-mail] CH  8005 Z�rich
www.isannointiliitto.fi t: 41 44 434 78 88 f: 41 44 434 78 99
[e-mail] www.svit.ch
Norge
Kiinteist�nv�litysalan Keskusliitto ry (KVKL)
Arkadiankatu 23 D. 5 kerros
FI  00100 Helsinki
t: 358 942 827 007 f: 358 207 476 390 Norges Eiendomsmeglerforbund (NEF)
[e-mail] www.kvkl.fi Parkveien 55
NO  0256 Oslo
Sverige t: 47 22 54 20 80 f: 47 22 55 31 06
[e-mail] www.nef.no
M�klarsamfundet (M)
box 1487
SE  171 28 Solna
t: 46 8 550 09 00 f: 46 8 555 00 999
[e-mail]
www.maklarsamfundet.se
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Member associations
Partners
Asociación Inmobiliaria de Edificios de Renta y Colegio de Gestión y Administración National Association of Realtors � (NAR)
Horizontal (AIERH) Inmobiliaria de Chile, A.G. (CGAI) 430 North Michigan Avenue
Moreno 1881 rua San Diego 1223 Chicago, Illinois 60611-4087  USA
1094 Buenos Aires  Argentina Santiago  Chile t: 1 312 329 83 65 f: 1 312 329 83 58
t: 54 11 4371 36 24 t: 562 398 2625 f: 562 398 2502 [e-mail] www.realtor.org
[e-mail] www.aierh.com [e-mail]
F�d�ration internationale des Professions Real Estate Association of Lebanon (REAL)
Conf�d�ration europ�enne de l immobilier (CEI) immobiliŁres (FIABCI) Elias Sarkis Avenue Park
Clos du Parnasse, 3a Rue Dumont-d Urville, 17 Tower 1st floor, Achrafieh 2062 8306
BE  1050 Bruxelles FR  75116 Paris LB - Beyrouth
t: 32 2 639 62 31 f: 32 2 644 90 17 t: 33 1 73 79 58 30 f: 33 1 73 79 58 33 t: 961 1 332 300 f: 961 1 566 700
[e-mail] www.webcei.com/ [e-mail] www.fiabci.org
Secovi Rio
Central European Real Estate Associations Av. Almirante Barroso, 52/9� andar  Centro
Network (CEREAN) Institute of Real Estate Management (IREM) Rio de Janeiro - RJ 20031-918  Brasil
160, Stirbei Voda Str.  Bl. 22B  Ap. 12 430 North Michigan Avenue t: 55 21 2272-8000 f: 55 21 2272-8001
RO  010121 Bucuresti Chicago, Illinois 60611-4090  USA [e-mail] www.secovirio.com.br
t: 40 21 673 26 65 f: 40 21 260 26 65 t: 1 312 329 60 10 f: 1 312 410 79 10 [e-mail]
[e-mail] www.cerean.com [e-mail] www.irem.org
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2013 Board of Directors
Claudine Speltz, Luis de Prado, Jan Boro
vka, Jens-Ulrich Kie�ling, Mark Van De Woestijne, Xavier Ortegat,
President Vice President  CEAB Vice President  EPAG Secretary General Treasurer Managing Director
ES  CGCAFE CZ  ARK CR DE  IVD BE  IPI Consorte sprl
CEAB  Directors EPAG  Directors
Leonardo Caruso Alain Duffoux Jarosław Zieliński Yves Boussard Christophe Log� Steen Winther-Petersen
IT  ANACI FR  SNPI PL  PFSZN FR  FNAIM BE  IPI DK  DE
31
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Permanent Technical Committees 2013
All year long, the permanent technical committees meet to make proposals, prepare documents upon request
of the Board of Directors or of the General Meeting, and comment projects studied by the European Institutions.
This is done in the shadows, which is why you will find on this page, the name of the members of these committees.
Permanent Technical Committee Permanent Technical Committee Permanent Technical Committee
on Policy on Education on Communication
The PTC Policy advises the Board of The PTC Education advises the Board The PTC Communication focuses on
Directors and prepares documents and of Directors, prepares documents and structural issues, regularly reviews the
action to effectively represent and defend projects to set up a network of knowledge strategy implementation, improves tools
views and interest of the member organi- and skills, enhance quality care and such as extranet by making them more
sations towards the European Institutions, compliance with the code of ethics, to user-friendly as possible and advice the
with a view to influence the developments reduce barriers and encourage profes- General Assembly on specific issues.
of the EU legislation. sionals to show interest in cross-border
transactions.
Chairman Chairman Chairman
Joachim Schmidt DDIV DE Mark Van De Woestijne IPI/BIV BE Jukka Malila KVKL FI
Members Members Members
Grzegorz Dobrowolski PREF PL Jan Boro
vka ARK CR CZ Jan Boro
vka ARK CR CZ
Andr� Drok NVM NL Thierry Cheminant FNAIM FR Agnieszka Dabrowska PREF PL
Tero Heikkil� FREMF FI Keijo Kaivanto KIINKO FI Steven Lee IPI-BIV BE
Anne-Catherine Popot SNPI FR Hilde Lippens VIVO BE Hilde Lippens Vivo BE
Jurgen Vansteene IPI/BIV BE Jukka Malila KVKL FI Camilla Ratzke Nielsen DE DK
Jarosław Zieliński PFSZN PL Yolanda Mel�ndez AEGI ES Manuel Rizzo CIGDL LU
Ursula Pernica FIV AT Sylvie Timmerman FNAIM FR
Lydia Van Dalen NVM NL Jurgen Vansteene IPI/BIV BE
Mark Van De Woestijne IPI/BIV BE
Jurgen Vansteene IPI/BIV BE
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This report is published by the Conseil europ�en
des Professions immobiliŁres (CEPI aisbl).
No part or the whole of this report may be repro-
duced without mention of the source.
Information on CEPI and on its member associations
is available on the association s website www.cepi.
eu which already features the 2002, 2003, 2004,
2005, 2006, 2007, 2008, 2009, 2010 and 2011
editions of the Annual Report as well as the newslet-
ter CEPI Contact.
CEPI aisbl
Secretariat
avenue de Tervueren 36 bte 2
B - 1040 Brussels
t: [phone]
f: [phone]
www.cepi.eu
[e-mail]
Responsible Editor
Claudine Speltz - 06/2012
design: pixid & co scs