The production in real estate activities in South Korea grew from 7.9618 trillion KRW in 2013 to 24.537 trillion KRW in 2023. Significant fluctuations were observed over these years, such as a notable escalation in 2016 and 2017, followed by some declines, and then a relatively steady increase from 2020 onwards. The value stood at 24.537 trillion KRW in 2023.
Over the last two years, the year-on-year variation was 9.21% in 2022 and 3.54% in 2023. The average variation per year over the last five years (CAGR) was an increase of 6.2%. Future forecasts suggest a steady growth with a projected 5-year CAGR of 2.6% and a total growth rate of 13.71% by 2028.
Future trends to watch for:
- Continued steady growth in real estate activities with moderate annual increases.
- Potential impacts from economic policies, housing market regulations, and global economic conditions.
- Technological advancements and sustainability trends influencing real estate development and production.