Despite annual drop, real estate vacancies up by over 70% in Q3

Despite an annual drop in job vacancies at the third quarter of 2017 an impressive increase in vacancies for the real estate sector was observed by 73.67%, compared to the previous quarter of this year.

According to data released by the Cyprus Statistical Service the number of job vacancies for the 3rd quarter of 2017 was 4,703.

The number of job vacancies fell by 286 (-5.73%) compared to the same quarter of the previous year when it was 4,989, with the greatest drop recorded in the arts, entertainment and recreation by 60.29% and the greatest increase in the real estate activities by 2,250%.

Compared to the 2nd quarter of 2017 the number of vacancies increased by 1,995 or 73.67%.

The job vacancy rate for the 3rd quarter of 2017 was 1.4%, while the job vacancy rate for the previous quarter was 0.8% and the 3rd quarter of 2016 was 1.5%.

The largest job vacancy rates for the 3rd quarter of 2017 were presented in the area of real estate activities by 5% and in other service activities by 4.8%.

Source: Cyprus News Agency