Labor costs in the Chilean real estate sector have shown a consistent upward trend from 2013 to 2023. Although there was significant growth earlier in the decade, peaking with a notable 12.09% increase in 2018, the growth rate has since decelerated. By 2023, labor costs stood at 678.43 billion Chilean pesos, with year-on-year growth dropping to 2.87% and a five-year CAGR of 2.58%
.Future trends to watch for:
- Forecasted labor costs are expected to reach 767.41 billion Chilean pesos by 2028.- The five-year forecast suggests a CAGR of 1.94%, indicating further deceleration in growth.- Factors such as inflation, economic stability, and labor market regulations will significantly impact these projections.
