How are cost pressures & supply shortages affecting the global mobility market?


This and other topics were hotly discussed at October’s Think Global People Networking Reception, held at the Institute of Directors. Marianne Curphey reports.


houses for assignees and overseas travellers, now rental properties in Germany, the Netherlands, Spain and Portugal are also in short supply.


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THE GLOBAL MOBILITY CYCLE IS CHANGING “London has always been a difficult market, but now the whole of the European market is also challenging,” said Fruzsina Hodson, senior manager, Santa Fe Relocation. “For example, a budget that in the past would have secured you a one bedroom flat in Portugal now only pays for a room in a shared house.” Fruzsina was speaking at a panel


discussion with Shân Norman, regional vice president, EMEA, Weichert Workforce Mobility, and journalist Marianne Curphey at the Think Global People International Networking Reception at the Institute of Directors in London. The lively evening of debate and networking brought together leaders, decision makers and service providers across global mobility and international business. Led by Fiona Murchie, founder and managing editor, Relocate Global and Think Global People, it was a


hile London and New York have for many years have faced a shortage of


chance to exchange views and catch up with the trends in the market. “I have seen lots of different


cycles in the global mobility market and previous cycles it has been common for everyone to be treated the same,” Shân told the audience. “The marked difference in this cycle is that senior people are being treated with kid gloves. Companies want to ensure that everything is done for them and they recognise the need to pay for that extra level of service. Contrast this with young people who are relocating for the first time now and don’t need that level of support or level or spend.”


HOW CHANGES AROUND LEGISLATION AND COST ARE REDUCING SUPPLY Fruzsina said Santa Fe was working to keep clients informed of how the market was changing by providing market updates, white papers and seminars flagging up areas where rules were changing or property shortages were emerging. She cited the example of


the Netherlands, where the government has introduced a points system which has led to landlords withdrawing properties if they think they will not receive the rental income they had hoped for. In the UK, the modification of Section 21, known as the Renters’


Reform Bill, reduces the powers for landlords to evict tenants and limits rent rises and may lead to landlords exiting the market. “We need to keep educating our


clients that unfortunately there is a shortage of properties,” she said. “Relocations might take a little bit longer and a typical home search programme is not a one or two day home search but might take a month to complete.” Shân said: “Anyone looking for


a house can’t go out and see ten houses the first day and six the next and then choose between them. It doesn’t work that way anymore.” She added that there had been


a move towards personalising relocations in order to provide a “wow factor” for the younger individuals who were moving and who would not be in receipt of the extra perks that senior staff might be given. “It is much more about what


the individual needs,” she says. “We find out what that person is interested in so that when they arrive in their location they can take part in a walking food tour of Borough Market in London, a Swiss cheese tour, guided mountain climbing or whatever might make it special for them.” She said that as business travel has returned, it might be expected


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GLOBAL MOBILITY


FAMILY SUPPORT TRENDS


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