The total number of establishments in the Real Estate Activities Section decreased by 7.9 percent in the Ilocos Region. This is according to the preliminary result of the 2022 Annual Survey of Philippine Business and Industry. The 2022 record of 82 establishments was lower than the 89 establishments listed in 2021.

Nonetheless, total employment increased by 10.1 percent from 1,047 in 2021 to 1,153 in 2022. Additionally, there were 14 employees per establishment in 2022 compared to 12 employees in 2021. This indicates an increase of 16.7 percent.
 

There was a 33.0 percent decrease in the total expense in the Real Estate Activities Section. In 2021, the total expense was PhP 1.41 billion, while in 2022, it was PhP 944.48 million. In addition, there were 1,105 paid employees in 2022. This represents a 5.5 percent growth compared with the total number of paid employees in the Ilocos Region in 2021.

The total remuneration decreased by 28.0 percent. The total compensation in 2022 dropped to PhP 219.68 million from PhP 304.95 million in 2021. Accordingly, the average annual compensation per paid employee in 2022 was PhP 198,802. It went down to 31.7 percent from the PhP 291,262 average annual compensation per employee in 2021.

In 2022, the Section generated a revenue of PhP 1.33 billion, indicating a decrease of 8.5 percent from the PhP 1.45 billion total revenue in 2021. On the other hand, the revenue per expense ratio was 1.41, higher than the 1.03 revenue per expense ratio in 2021.

SGD. ATTY. SHEILA O. DE GUZMAN
Regional Director, RSSO 01