The real estate sector in Portugal has demonstrated significant dynamic changes over the past decade. From 2013 to 2023, the sector saw a general upward trend, starting at 17.51 thousand employees in 2013 and growing to 31.48 thousand in 2023. A notable peak in the growth rate was observed between 2016 and 2017, with an increase of 15.82%. However, growth experienced fluctuations, including a temporary setback in 2020, likely influenced by the global pandemic, resulting in a -3.26% year-on-year variation. Over the last five years (2019-2023), the sector achieved a Compound Annual Growth Rate (CAGR) of 4.23%, highlighting steady growth.
Looking ahead, forecasts up to 2028 indicate a more moderated growth speed, with a 5-year CAGR of 1.02% and a total growth rate of 5.22%. The forecasted number of employees suggests the sector will continue expanding but at a slower pace compared to the previous decade.
Future trends to watch for:
- Technological advancements influencing the real estate market.
- Economic policies and regulations affecting the sector's employment dynamics.
- Potential impacts of global market trends and external economic factors.
- Urbanization and infrastructure developments contributing to sector growth.
