Relevance of the real estate industry
The real estate industry is an inter-sectoral actor in every modern society; including the building industry, architects, planners, geographers and economists. The gross added value in the year 2013 amounted to 434 billion Euros (19% of the overall economy) and was therefore higher than in other sectors like mechanical engineering (74 billion Euros) and health care (164 billion Euros). The figure above shows the chronological sequence of the added value. The net fixed assets tied to real estate summed up to 7.6 billion Euros (82% of all assets) and have highly contributed to the wealth creation in Germany due to its previous stable performance. More information on this topic is accessible in the following publication (in German): Wirtschaftsfaktor Immobilien 2013: Gesamtwirtschaftliche Bedeutung der Immobilienwirtschaft .
The international research shows the economic importance and the interdisciplinary of this research field. In Germany, there are only few researchers at university level who study in the research area of the real estate economy. With the establishment of the Juniorprofessur für Real Estate Finance , the RWTH Aachen University created the opportunity of basic research and scientific investigation of the many real estate related challenges in our society (stable securitization, financial stability, demographic change, etc.).