NACE 68 – Real Estate Activities | Public Tenders

Definition: NACE 68 covers the purchase, sale, renting and administration of real estate — both own and third-party properties. This division includes residential property, commercial property and undeveloped land and is equally relevant for public contracting authorities as buyers and contractors.

Legal basis: NACE Rev. 2 (Regulation (EC) No 1893/2006) · Last updated: January 2026

What does NACE 68 cover?

NACE 68 (Real estate activities) classifies companies in the real estate sector — an area of considerable importance to public contracting authorities as tenants of large office space, as owners of properties and as buyers of administration services.

Division 68 within Section L (Real estate activities) is broken down into three groups:

Public contracting authorities procure from this sector property administration services, brokerage services for the renting and letting of office space as well as valuation services.

Public Tenders: Sector NACE 68

Public real estate contracts cover in particular administration services for public properties, broker mandates for space procurement as well as valuation reports for real estate transactions.

Typical types of contract

• Property administration of municipal housing stocks: Municipal housing companies award administration mandates for housing estates
• Broker mandates for office renting: Authorities commission brokers to search and rent office space
• Real estate valuations: Public bodies need reports for land transactions, expropriation procedures and accounting
• Facility management coordination: Administration and coordination of operating and maintenance services
• Property administration: Administration of public properties, lease contracts, leasehold management
• Social housing: Non-profit housing providers tender administration services for subsidised housing

Relevant CPV codes for NACE 68

The link between the NACE classification and tender search is provided by the CPV codes (Common Procurement Vocabulary), which must be stated in every contract notice on TED.

Current tenders with these CPV codes can be found on TED (Tenders Electronic Daily) as well as on national procurement platforms.

For Contracting Authorities and Bidders

Public contracting authorities

Municipal housing companies, federal real estate companies (BIG in Austria, BImA in Germany), regional development companies as well as ministries are the main contracting authorities in NACE 68. The federal real estate administration manages thousands of public properties and awards administration and valuation contracts. Municipalities procure property administration services for their housing stock. Public education and research institutions rent office and laboratory space and commission brokers for this.

Companies and bidders

Real estate service providers participating in public tenders must typically provide the following evidence:

• Professional qualification: Evidence as a certified property manager (RICS, IVD, ÖVI) or state-certified expert
• Professional liability insurance: Sufficient cover amounts for claims arising from administration activity or valuation errors
• References: Comparable administration mandates or valuation contracts for public or institutional contracting authorities
• Software and reporting: Evidence of professional administration software and standardised reporting obligations

Frequently Asked Questions on NACE 68 and public tenders

Which companies fall under NACE 68?
Real estate administrators, brokerage companies, land developers as well as valuation companies. This is distinct from NACE 41 (developers who themselves build) and NACE 81 (facility management providing operating services).

Is the purchase of land by public bodies subject to public procurement law?
Land purchases are in principle not procurement transactions within the meaning of public procurement law and are therefore not subject to tendering. Where public bodies commission third parties to search for and broker land (brokers), this constitutes a service contract.

How are property administration mandates tendered?
Typically, quality (service concept, accessibility, software, experience) and fee (administration flat rate per unit) are weighted. Awards are often made for several years with extension options. Division into lots by building type or region is common for larger portfolios.

Navigation: NACE 68 in context

• NACE L – Real estate activities: Parent section
• NACE 41 – Construction of buildings: Construction of residential and non-residential buildings
• NACE 71 – Architectural and engineering activities: Planning and valuation
• NACE 81 – Services to buildings and landscape activities: Facility management and cleaning

Last updated: January 2026
All information is provided without guarantee. For legally binding advice, please consult a law firm specialising in public procurement law.