France hourly labour cost index: real estate services
France hourly labour cost index: real estate services stood at 112 in Q2 2026, according to INSEE – Institut national de la statistique et des études économiques (BDM). It is one of the indicators in the Wages and labour cost table (Value · Quarterly), with a complete series running from Q1 1998 to Q2 2026. The complete series with an interactive chart, free to download.
This indicator in the Wages and labour cost table
| Indicator | Q2-2026 | Q1-2026 | Q4-2025 | Q3-2025 | Q2-2025 | Q1-2025 | Q4-2024 | Q3-2024 | Q2-2024 | Q1-2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Labour cost index | |||||||||||
| hourly costs - Real estate services (NAF rev. 2 item L) | 112 | 112.1 | 111.4 | 109.6 | 109.3 | 109.2 | 107.5 | 106.5 | 105.6 | 104.2 | |
| hourly costs - Professional, scientific and technical activities (NAF rev. 2 item M) | 113 | 112.5 | 112.2 | 110.8 | 110.3 | 109.9 | 109.3 | 108.4 | 107.6 | 106.4 |
Understanding france hourly labour cost index: real estate services
This index tracks total hourly employer outlays for personnel engaged in the purchase, sale, rental, leasing, and management of residential and commercial property, including real estate agencies. The calculation divides total remuneration—comprising base salaries, property transaction commissions, and statutory social contributions—by the total hours worked by agents, property managers, and administrative staff. It separates property services from financial institutions and professional technical consultancies.
Real estate compensation is often sensitive to property market transaction volumes, where commission earnings fluctuate alongside housing turnover and commercial leasing activity. Early data releases are subject to routine revisions as real estate firms submit finalized tax and payroll reports. When assessing this series, year-on-year comparisons help smooth out cyclical property market slumps and surges that impact variable commission payments.
Frequently asked questions
- What operations fall under real estate services?
- It covers property management, leasing of residential and commercial real estate, and real estate agency activities.
- How do commissions influence real estate labour costs?
- Transaction-based commissions tie a portion of employee remuneration directly to housing and commercial property market activity.
- Why use annual comparisons for this real estate metric?
- Annual views help filter out cyclical property market surges and downturns that cause volatility in commission-based earnings.