Employment in the real estate sector in South Korea has demonstrated a consistent growth trajectory from 2013 to 2023, with the number of persons employed rising from 437,000 in 2013 to 565,700 in 2023. The sector experienced notable fluctuations such as an 11.8% year-on-year increase in 2017. Post-2016, the sector maintained positive year-on-year growth, ending 2023 with a 1.27% increase. The 5-year CAGR highlights a gradual but steady growth, averaging 0.91% annually.
Projected data from 2024 to 2028 suggest a continued uptrend, with employment figures expected to reach 599,200 by 2028, reflecting a forecasted 5-year growth rate of 4.63%. Key indicators project the sector's stability with slight annual increases, supporting a healthy but cautious optimism for future growth.
Future Trends to Watch For:
- Technological advances in real estate operations and virtual property management
- Government policy impacts, especially regarding housing affordability
- Foreign investments and cross-border real estate transactions
- Urbanization trends and smart city developments