ASPBI reports P497B real estate income for 2014

Firms engaged in real estate activities generated an income of P497.5 billion in 2014, latest results of the Annual Survey of Philippine Business and Industry (ASPBI) showed.

With an income of P389.8 billion, real estate activities with own or leased property led the sector, while real estate activities on a fee or contract basis accounted for a mere 5.8 percent of the income or P28.6 billion.

The value added—gross output less intermediate cost— of the sector reached P172.9 billion in 2014, the ASPBI, released by the Philippine Statistics Authority (PSA) last month, showed.

In all, there were 4,862 real estate establishments in the formal sector employing 72,711 workers in 2014.

Bulk of the firms or 4,240 were real estate activities with own or leased property while the rest were involved in real estate activities on a fee or contract basis.

The report also showed that paid employees in the real estate sector compose 99.2 percent (72,120) while the remaining 0.8 percent (591) were working owners or unpaid workers.

Broken down by employment size, firms with total employment of 20 and over accounted for 61 percent or 44,219 workers while 39 percent or 28,392 workers were employed in establishments with total employment of less than 20.

The average annual compensation in the real estate sector in 2014 was at P303,123 per employee with workers in firms with total employment of 20 and over receiving an average annual compensation of P355,700, higher than the P219,500 annual average compensation received by workers in firms with less than 20 employees.

The survey was conducted nationwide in April 2015 with the year 2014 as the reference period of data, except for employment which is as of November 15, 2014.

Compiled by Ana Roa,
Inquirer Research (Source: psa.gov.ph)