The value added of the real estate sector in Spain has seen varied growth and contractions over the past decade. The period from 2013 to 2015 experienced a slight decline, followed by moderate growth until 2020, when a drop occurred due to external factors likely linked to the global pandemic. Recovery began promptly in 2021 with a significant surge in 2022, reaching 139.48 billion Euros in 2023. The sector is expected to maintain a steady growth pattern, with a forecasted CAGR of 1.52% over the next five years, culminating in a value of 153.08 billion Euros by 2028.
Future trends to watch for include:
• Potential impacts of rising interest rates on property values.
• The influence of urbanization and demographic shifts on real estate demand.
• The role of sustainability and green construction practices in driving market growth.
• Technological advancements such as PropTech shaping the industry's efficiency and productivity.
