Between 2013 and 2023, the production in the Real Estate Activities Sector in Portugal saw substantial growth, peaking in 2019 at 7.22 billion Euros after starting at 2.96 billion Euros in 2013. However, post-2019, the sector experienced fluctuations, with notable decreases in value during 2020, 2021, and beyond. By 2023, the sector stood at 5.8 billion Euros, marking a 4.07% decrease from the previous year.
Year-on-year:- Significant growth was observed between 2014 and 2019, with percentage increases reaching as high as 28.02% in 2017.- Post-2019, the sector faced consecutive declines, with a notable yearly decrease of 6.66% in 2020 and a consistent downward trend through 2023.
Compound Annual Growth Rate (CAGR):- Over the five-year period leading up to 2023, the sector had a negative CAGR of -0.87%, indicating a downtrend in the latter part of the decade.- Forecasts from 2024 onwards predict a continued decline, with an expected five-year CAGR of -1.72%, and an overall decrease of 8.3% between 2024 and 2028.
Future trends to watch for:- Economic recovery measures affecting property market dynamics.- Changes in governmental policies and interest rates that may impact investment incentives.- External factors like global economic conditions, housing demand shifts, and technological advancements influencing real estate transactions.
