Outplacement in construction and real estate

High construction costs, increased financing costs, changing requirements for real estate, digitalisation and the energy transformation have strongly changed construction and real estate in recent years. At the same time, individual market indicators are brightening again in 2026.

Hardly any sector is as closely tied to Germany's economic development as construction and real estate. It determines how housing is created, where companies work, how cities grow and how buildings are modernised for energy efficiency.

Rising financing costs, high construction costs, regulatory requirements and cautious investment appetite have put housing construction and parts of the property market under particular pressure. Yet in 2026 the first signs of stabilisation are emerging: in the first half-year, 126,300 dwellings were approved in Germany — 15.1% more than in the same period of 2025. Approvals for multi-family housing rose especially clearly (+16.9%).

At the same time, sentiment remains tense: in July 2026 the ifo business climate for housing construction improved only slightly to −29.3 points, and 41.2% of companies still reported too few orders.

So construction and real estate is not simply in a crisis. It is in a realignment. And that is precisely what is changing the careers of the people who work in it.

Why the sector is in structural change

The change has several mutually reinforcing causes. Real estate is highly capital-intensive — changing interest rates therefore act directly on project developments, valuations, return requirements, transactions, new build and refinancing. The Bundesbank notes that interest rates for housing-construction loans have risen slightly since the start of the year and that demand has recently lost momentum.

For developers and property companies this means: not every project that seemed economically sound a few years ago is still viable under today's conditions.

New build is under pressure — refurbishment is gaining

The building slump is not the same everywhere. New build remains difficult, while there is enormous demand for energy-efficient refurbishment, modernisation, densification, change of use, building services and digital building management. In the first half of 2026, 20,800 dwellings were approved through conversion measures in existing buildings — 9.2% more than a year earlier.

Value creation is therefore shifting: from new build alone to new build + refurbishment + change of use + technical optimisation + portfolio management.

Job cuts and new opportunities at once

Construction and real estate clearly show that structural change does not automatically mean sweeping job cuts. In June 2026 the main construction trade employed around 545,000 people — 1.5% more than a year earlier — and real incoming orders rose 11.3% in June. While companies reduce capacity in certain segments, demand grows in others: infrastructure, refurbishment, building services, energy efficiency, project control, technical planning and property management.

Real estate is not fundamentally losing value — particular uses, locations and business models are being revalued.

Your market value is greater than your job title

In construction and real estate especially, the previous job title can needlessly limit actual market value. A "Managing Director Project Development" appears at first glance to be tightly bound to property development. A closer look, however, often reveals a broader profile: investment, financing, project development, negotiation, stakeholder management, restructuring, leadership and risk management.

These competencies are also relevant in infrastructure, energy, urban development, industrial real estate, technical services and the project business.

The question is not "Which property companies are looking for a managing director of project development?" but "Which companies need a leader who can steer complex investment and development projects commercially?"

A similar effect appears with specialists: a "Senior Property Manager" often combines portfolio management, cost control, service-provider management, tenant communication, digitalisation, project and maintenance management — transferable to facility management, corporate real estate, infrastructure, technical services, energy efficiency and building technology.

Which competencies become more important

• Project and cost management — with higher construction and financing costs, commercial steering and risk management gain importance.
• Energy efficiency and building services — transforming the building stock creates long-term demand for technical and commercial expertise.
• ESG and sustainability — sustainability requirements shape investment, financing and property strategies.
• Digitalisation and PropTech — digital processes change planning, letting, administration and building control.
• Data and property analytics — professional decisions are increasingly data-driven.
• Restructuring — in a more selective market, leaders are sought who can adapt business models and organisations.

Which target markets come into question

Changing industry is not strictly necessary. But especially after a restructuring, a look at adjacent markets is worthwhile:

Experience from construction & real estate	Conceivable target markets
Project development	infrastructure, energy, urban development
Construction project management	plant engineering, energy, industry
Asset management	infrastructure, energy, funds
Property management	corporate real estate, facility management
Technical building management	energy, building services, smart building
Purchasing	construction, industry, infrastructure
Financing	banks, project finance, investment
Real-estate sales	B2B services, investment, technology
ESG / sustainability	energy, consulting, industry
Restructuring	cross-industry

A different logic applies to executives

A leader from the property sector should not define themselves solely by their previous market. A "Head of Asset Management Real Estate", for example, brings portfolio steering, investment planning, return optimisation, restructuring, financing management, risk analysis, negotiation and leadership — relevant to far more than classic property companies. The question is: Which economic problem can I solve? — not "In which industry have I worked so far?"

For top managers, achieved impact counts. Instead of "real-estate manager", the stronger positioning is often: "Internationally experienced leader for complex investment, transformation and restructuring processes, with full responsibility for results, organisation and stakeholders." What matters is always that the positioning is backed by the actual career.

What affected professionals should do after job cuts

1. Assess where you stand. Which professional and entrepreneurial competencies do you actually have?
2. Work out your successes. Which projects, portfolios or organisations did you steer successfully?
3. Identify transferable competencies. Which experiences are also relevant to infrastructure, energy or industry?
4. Define target markets. Which companies need exactly these competencies?
5. Develop a positioning. Which professional role should the market associate with you in future?
6. Choose the right market access. Especially for executives, networks, executive search and direct approaches matter — the core of our KARENT PLACEMENT approach.

What professional outplacement consulting can achieve

In construction and real estate, reorientation is often demanding because many careers are strongly focused on one segment — project development, property management, financing or site management. Professional outplacement helps to analyse existing experience, retranslate it and transfer it to additional target markets: assessment, competency and target-market analysis, repositioning, executive positioning, and network and interview strategy.

Between crisis and fresh start

The market is not simply returning to its pre-crisis state — it is changing: less pure new-build orientation, more existing stock and transformation; fewer classic processes, more digitalisation and data. Anyone who masters the project business, steers investments, optimises costs or leads organisations has competencies that can be relevant well beyond the classic property market.

Job cuts end a position — not automatically the value of the experience behind it.