Industry insights and figures Real estate activities

Operating margin
43.4 %
▼ -1.3pp
2022
Companies
34438
2023
Vacancies (sector)
0.0%
2025-Q4

Key insights Real estate activities

Actionable signals from current data
NL
Average operating result: 43.4% of revenue (2022).
Personnel costs: 13.2% of revenue (2022).
Number of companies: 34,438 (2023).

Sector outlook Real estate activities

Automated analytical commentary based on the most recent Eurostat figures

Industry overview

The Real estate activities sector across Netherlands comprises approximately 34,604 enterprises employing about 70,394 people and generating €33.4 bn in net turnover in 2022. The average enterprise size is 2 employees per firm. This is a useful yardstick when assessing whether your own operation sits within the typical scale band of the sector.

Profitability

With a robust operating margin of 43.4% of revenue in 2022, the sector reports €14.5 bn of gross operating surplus (Eurostat's EBITDA-equivalent, before depreciation). This figure provides the headline benchmark against which an individual operator can sanity-check their own bottom line, values significantly below indicate cost or pricing pressure, those above suggest competitive advantage worth defending.

Cost structure

The Real estate activities cost mix is reasonably balanced: cost of revenue at 44.5%, personnel at 13.2% and energy at – of turnover. Without a single dominant cost driver, margin management requires attention across the full operating envelope rather than focus on any one line.

Productivity & human capital

Each employee in the Real estate activities sector generates approximately €414,000 of net turnover against a labour cost of €43,000, yielding a productivity-to-cost ratio of 9.6. Value added per employee stands at €268,000 This is a headline figure to compare against individual firm performance when judging whether headcount is creating proportional value.

Trend & trajectory

Over the period 2008 to 2022 the operating margin moved from 39.8% to 43.4% (+3.5 percentage points), an encouraging upward trajectory. Sectors with stable or improving margins tend to reflect successful pass-through of input costs and disciplined capacity management; declining margins typically point to either over-supply or a structural cost squeeze that warrants strategic review.

Costs by category Real estate activities

Sector average % of revenue
Log in to see the full 16-year history
Cost structure for Real estate activities in NL, 2008 to 2022, expressed as percentage of revenue.
Revenue / costs 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2024
Total revenue 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Personnel costs (total) 13.1% 13.4% 13.1% 13.6% 13.2% 13.8% 13.9% 13.0% 12.1% 11.5% 11.8% 12.4% 12.2% 12.7% 13.2%
Gross wages 11.5% 11.4% 10.9% 11.6% 11.1% 11.5% 11.3% 10.6% 9.9% 9.5% 9.8% 10.2% 10.2% 10.1% 10.5%
Social and pension contributions 1.6% 2.0% 2.1% 2.0% 2.1% 2.3% 2.6% 2.3% 2.2% 2.0% 2.0% 2.2% 2.0% 2.6% 2.7%
Other costs 47.1% 46.1% 46.3% 44.5% 39.7% 40.4% 40.6% 36.6% 37.7% 40.9% 39.0% 40.0% 41.2% 42.6% 43.4%
Gross operating surplus (EBITDA) 39.8% 40.5% 40.7% 41.9% 47.1% 45.7% 45.6% 50.5% 50.2% 47.6% 49.2% 47.6% 46.5% 44.7% 43.4%
Depreciation 121.6% 108.1% 117.8% 110.7% 104.0% 100.6% 104.7% 98.6% 92.6% 90.8% 92.8% 94.3% 101.5% 104.7% 114.1%
Operating result (EBIT) -81.7% -67.6% -77.1% -68.8% -56.9% -54.8% -59.1% -48.1% -42.4% -43.2% -43.6% -46.7% -55.0% -60.0% -70.7%

Source: Eurostat Structural Business Statistics (latest available year).

Per-employee benchmarks and capital intensity Real estate activities

Revenue per employee
414€k
Labour cost per employee
43€k
Value added per employee
268€k
Labour productivity
234€k
Employees per firm
2
Investment rate
61.0%
Labour cost / value added
18.0%
Wage-adjusted productivity
374.0%

Average sector figures sourced from Eurostat. Use as a yardstick. Note your own ratios may differ by scale, mix and legal form.

Operating result over 15 years

Sector average % of revenue
Average
45.4%
Peak
50.48%
2015
Low
39.85%
2008
Latest
43.39%
2022

Cost mix evolution

How costs have shifted as a share of revenue

Cost distribution as % of revenue Real estate activities (2022)

Recommended next steps

Based on the latest available data for Real estate activities