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Real estate transactions in the II quarter reached their lowest level in 5 years.

Real estate transactions in the II quarter reached their lowest level in 5 years.

Economic expert Veaceslav Ionita writes about this on the IDIS Viitorul website, noting that until 2015, 14-15 thousand transactions with real estate, especially with apartments, were carried out in Moldova every year. From 2019 to the present, about 28 thousand real estate transactions have been completed. However, in the second quarter of this year, the smallest number of real estate transactions was registered in the last 5 years, both in the country and in Chisinau. The expert explains this by the fact that since the second half of the last year, real estate prices in Chisinau, after a 12-year decline, have grown too sharply - by more than 20%. The real estate market has experienced explosive growth; the number of real estate transactions has tripled. At the same time, according to the expert, the second quarter is sending signals that a "price correction" is taking place. The economist also draws attention to the fact that 10 years ago 60% of transactions were concluded on the purchase of real estate in Chisinau, and now about 80%. If at the national level last year there was a slight decline in the real estate market, then in Chisinau municipality - a constant growth. The expert believes that the real estate market in Moldova does not exist as such, there is a real estate market in Chisinau and a little in the municipality of Balti and settlements near Chisinau. Veaceslav Ionita also notes that Moldova is becoming a market where people live for rent. If 15 years ago only 6% of Chisinau residents rented a living space, now about 13% of citizens live in rent. The average for Europe is 40%. Of those who live in rent, 45% are young people alone who do not live with their parents. Another 25% are young families without children, and 10% are families of two: usually a parent and a child. The expert believes that the rise in apartment prices was too sharp, which led to an increase in demand for rent, and in the second quarter of 2021 there were the lowest apartment sales in the last 5 years. Veaceslav Ionita is convinced that the Moldovan market is not yet ready for such a sharp rise in prices - by 20%, which frightened the citizens, and they became more cautious. // 06.09.2021 - InfoMarket

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Moldova: 4165 housing units were commissioned in the first half of 2021, which is 1374 units (49.2%) more than in the same period a year earlier.
Moldova: 4165 housing units were commissioned in the first half of 2021, which is 1374 units (49.2%) more than in the same period a year earlier.
Prices in the secondary residential real estate market have not changed for the fourth month in a row - the cost of 1 sq. m in August averaged 526 euros.
Prices in the secondary residential real estate market have not changed for the fourth month in a row - the cost of 1 sq. m in August averaged 526 euros.
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The book value of Moldova’s public property amounted to 121.2 billion lei as of January 1, 2021.
Average cost of 1 sq. m of apartments in Chisinau in July 2021 remained at the level of June and amounted to 526 euros per 1 sq. m, - Lara.
Average cost of 1 sq. m of apartments in Chisinau in July 2021 remained at the level of June and amounted to 526 euros per 1 sq. m, - Lara.
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The Constitutional Court of Moldova declared unconstitutional the law that provided for the return of the former Chisinau Republican stadium into state ownership and the abolition of the transfer of this plot into the United States’ ownership for the construction of a new embassy.
Moldova: Contract work in construction, according to updated data, amounted to 15.1 billion lei in 2020, not to 14 billion 008.3 million lei, as previously reported by the NBS, and increased, relative to 2019, by 11.8%, not by 3.7%.
Moldova: Contract work in construction, according to updated data, amounted to 15.1 billion lei in 2020, not to 14 billion 008.3 million lei, as previously reported by the NBS, and increased, relative to 2019, by 11.8%, not by 3.7%.