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1.5 Million Enterprises in the EU’s Real Estate Sector

In 2021, 1.5 million enterprises in the EU had their core business in the real estate sector, representing 4.8 percent of all active enterprises in the EU’s business economy.  This marked an 11 percent increase from 2020 (1.3 million enterprises).

In 2021, the real estate sector employed 2.7 million people, representing 1.7 percent of total employment in the business economy. This sector contributed EUR267.5 billion in value added, accounting for 2.8 percent of value added created by the EU’s business economy. Furthermore, the sector reported a net turnover of EUR521.5 billion in 2021.

Among EU countries, the highest contribution of this sector to the value added of the business economy total in 2021 was recorded in Estonia (5.5 percent), followed by Sweden and Latvia (both at 5.2 percent), Austria (3.9 percent) and Denmark (3.8 percent). Conversely, the lowest contributions were observed in Ireland (0.5 percent), Cyprus (1.0 percent), Slovenia (1.4 percent), Croatia (1.6 percent) and Greece (1.8 percent).

Regarding employment, Latvia reported the highest share (4.2 percent), followed by Estonia (3.3 percent), Denmark (2.9 percent), Lithuania (2.8 percent) and Sweden (2.4 percent). The lowest shares of employment in the real estate sector within the business economy total were recorded in Greece (0.8 percent), Slovenia (0.9 percent), Croatia, the Netherlands and Cyprus (all at 1.0 percent).