ECONOMIC INDICATOR COMPARISONS OF INTERNATIONAL REAL ESTATE SECTORS USING THE OECD INPUT-OUTPUT DATABASE

With its growing share in national economies, the real estate sector has been considered a vital contributor of economic development. Research efforts are needed in order to gain a better comprehension of the national specificities of the real estate sector and to identify its role in economic development. Due to limited comparable data, the economic indicators of real estate sectors are hard to compare between different countries. This paper aims to explore the quantitative interdependence amongst the real estate sector and other industries in developed economies using input-output analysis, and to investigate their significant linkages. Based on the recently published Organisation for Economic Co-operation and Development (OECD) input-output database at constant prices, the analysis focuses on the real estate's escalating role in terms of shares in gross output, value added and gross national product. With emphasis on the relative role of manufacturing, construction and services inputs, this paper also highlights the strengths of the push and pull of the real estate sector.