How much real estate sector employees were getting paid

Employees in the real estate sector were paid an average annual compensation of P331,800 in 2016, data released by the Philippine Statistics Authority (PSA) on Monday showed.

According to results of the Annual Survey of Philippine Business and Industry, the compensation paid by real estate sector totaled P27.1 billion in 2016, which translates to an average annual compensation of P331,800 per employee.

There were 81,728 workers in the real estate sector during the year, of which 99.8 percent or 81,581 were paid. The 0.2 percent belong to the owners or unpaid workers category.

The PSA enumerated the average annual compensation in various activities related to real estate as follows:

• P385,600 per employee in buying, developing, subdividing, and selling

• P344,900 for those receiving fees or getting paid per contract

• P284,700 for buying, selling renting, and leasing  as well as operating self-owned or leased apartment buildings, non-residential, and dwellings

• P284,200 for those engaged in other activities using owned or leased properties

• P230,700 for those involved in cemetery and columbarium development

• P181,500 for employees in renting or leasing services of residential properties.

The real estate sector generated a total income of P577.7 billion in 2016. The bulk, or 68.6 percent amounting to P396.2 billion, was accounted for by buying, developing, subdividing, and selling activities

Total expenses incurred by the sector amounted to P377.1 billion. —Jon Viktor Cabuenas/VDS, GMA News