The real estate sector in Spain has seen fluctuations in the number of employed hours over the past decade. In recent years, there was a significant dip in 2020 with a -16.61% change, correlating with the impacts of the pandemic. This was followed by a recovery phase where 2021 saw a modest growth of 3.04%, and 2022 continued this trend with a 7.56% increase. As of 2023, the sector experienced a slight growth of 0.53% and stood at 251.11 million hours. The 5-year CAGR leading up to 2023 was 0.31%.
Forecasted data from 2024 to 2028 predicts a steady growth trend. The average CAGR for the forecast period is expected to be 0.53%, with the total employed hours reaching 259.94 million by 2028, indicating a consistent annual growth rate of 2.69% over five years.
Future trends to watch for:
- The potential effects of technology and digitalization on real estate operations.
- Changes in housing policies and regulations that could impact employment.
- Market responses to economic fluctuations and post-pandemic recovery policies.
- Demographic shifts influencing real estate demand.
