SOURCE: RICS

RICS

October 18, 2017 06:10 ET

RICS and Macdonald & Company released its 11th annual salary and benefits study; Result indicates young professionals are highly valued in Asia's property sector

HONG KONG, CHINA--(Marketwired - Oct 18, 2017) - RICS (Royal Institution of Chartered Surveyors) and Macdonald & Company released its 11th annual salary and benefits study for the Asian property sector. The survey revealed that the age group between 25-30 years old received the largest average salary increase, as a result of employers being willing to offer attractive compensation packages to young professionals. Furthermore, RICS-qualified respondents continue to enjoy higher base salaries than their non-qualified counterparts, marking the importance of obtaining a professional qualification, with the earnings gap landing at 12.4 per cent based on the survey results.

The property sector, one of the major industries in Hong Kong, and an increasingly important sector in mainland China, is experiencing an improvement in market sentiment, with 52 per cent of property management respondents and 49 per cent of facility management respondents believing that their pay and benefits will be positively affected by market conditions over the next 12 months. The survey also revealed that real estate professionals now consider salary as the single most important job aspect, with 79 per cent of all respondents stating that salary is their top priority, followed by management style at 71 per cent, job security at 65 per cent and responsibility at 63 per cent.

"Despite how the economy performs, these needs are always there," said Mr Kenneth Kwan, board member of the RICS Asia Pacific World Regional Board. "As such, the people working in property are always enjoying a relatively secure job employment with steady progression in salary and position if they work hard."

Mr Clement Lau FRICS, Chair of RICS Hong Kong Board, said, "As the real estate industry in the Asia Pacific region continues to grow and prosper, we are pleased to see the remuneration of our young professionals can be benefited from such growth at the same time." He added, "We see more development needs in the future years due to the Guangdong-Hong Kong-Macau Greater Bay Area initiatives and HK2030+, and suggest that government should set up more tertiary programmes related to surveying as well as construction, and create more job opportunities for young professionals."

The job satisfaction rate among real estate professions showed a positive overall employee sentiment, with 82 per cent of respondents indicating that they are "fairly" or "very satisfied" with their current job.

About the RICS and Macdonald & Company Asia Salary & Benefits Survey 2017
Now in its eleventh year, the Annual RICS and Macdonald & Company Asia Salary & Benefits Survey is the most comprehensive survey on remuneration and benefits undertaken for the property sector. 1495 real estate industry professionals from across Asia region participated online between November 2016 and March 2017. Besides statistics on current salaries, recent salary increases, bonuses and employment package benefits, the results give insight into wider issues that are important to real estate professionals in their role and their attitudes toward employment. The full 2017 survey can be accessed at www.macdonaldandcompany.com.

About RICS

Confidence through professional standards

RICS promotes and enforces the highest professional qualifications and standards in the development and management of land, real estate, construction and infrastructure. Our name promises the consistent delivery of standards -- bringing confidence to the markets we serve.

We accredit 125,000 professionals and any individual or firm registered with RICS is subject to our quality assurance. Their expertise covers property, asset valuation, real estate management; the development of infrastructure; and the management of natural resources, such as mining, farms and woodland. From environmental assessments and building controls to negotiating land rights in an emerging economy; if our members are involved the same professional standards and ethics apply.

We believe that standards underpin effective markets. With up to seventy per cent of the world's wealth bound up in land and real estate, our sector is vital to economic development, helping to support stable, sustainable investment and growth around the globe.

With offices covering the major political and financial centres of the world, our market presence means we are ideally placed to influence policy and embed professional standards. We work at a cross-governmental level, delivering international standards that will support a safe and vibrant marketplace in land, real estate, construction and infrastructure, for the benefit of all.

We are proud of our reputation and work hard to protect it, so clients who work with an RICS professional can have confidence in the quality and ethics of the services they receive.

Contact Information

  • For media enquiries, please contact:
    RICS East Asia Public Relations Representatives
    Ms Penn Leung / Ms Peggy Mak
    T: +852 3159 2986 / +852 3159 2982
    E: Email Contact / Email Contact