The employment in the real estate sector in Portugal has seen a notable trend over the past decade. Starting from 69.44 million hours in 2013, the sector experienced consistent growth reaching 133.08 million hours by 2023. This represents an increase of approximately 91.64% over eleven years. Significant year-on-year variations were observed, with peaks such as 14.93% in 2016 and 13.81% in 2017, followed by a more stabilized growth rate in recent years. The 5-year CAGR up to 2023 was 3.33%, indicating a moderate but steady upward trajectory.
Looking forward, the forecast from 2024 to 2028 shows continued growth. By 2028, employment in the sector is expected to reach 152.67 million hours, reflecting a 5-year growth of 11.4% with a CAGR of 2.18%. This suggests sustained, although slightly slower, growth.
Future trends to watch for include:
- Potential impacts of governmental housing policies on employment.
- Technological advancements in real estate and their effect on job roles.
- Economic factors influencing real estate demand and development.
