Even if the demand for houses increased in Chisinau and in the suburbs, as a result of the self-isolation restrictions imposed by the authorities to combat COVID 19, in 2020 there was no major increase in sale-purchase transactions in this segment.
According to the statistics provided by ASP (Public Services Agency), in 2020 there were 8,546 transactions for the sale and purchase of houses in the Republic of Moldova, with 351 fewer transactions compared to 2019, which is a decrease of 4 %.
Statistics of houses sold in Chisinau and throughout Moldova in 2020
Despite the fact that the total number of sold houses has decreased, if we analyze separately Chisinau and other districts, we notice that the situations are diametrically opposed. In the districts we have a decrease in the number of transactions by 10% or 463 houses, but in Chisinau there is a record of sales compared to recent years.
Thus, according to statistics, in 2020, in Chisinau were registered 1749 transactions of sale-purchase of houses, about 6.5% more than in 2019.
Statistics of houses sold by mortgage in 2020 in Chisinau
Analyzing the statistics of houses sold by mortgage we observe the same negative dynamics as in the case of loans granted by banks for the purchase of apartments. In 2020, there is a decrease in loans for the purchase of properties compared to recent years. There were 1866 loans granted for the purchase of a house on the entire territory of the Republic of Moldova, about 15% less compared to 2019.
Even if we had a consecutive increase for 3 years (2017-2019) of mortgages granted for the purchase of houses in Chisinau, in 2020 we have a decrease of 130 loans or about 13.5%.
CONCLUSION
Although the demand for houses has increased in Chisinau, people wanting better living conditions, more space, a garden, a terrace and a comfortable space for recreation, we didn’t have a BOOM of transactions sale-purchase in 2020.
The financial resources available to Moldovans do not meet their expectations – a house is much more expensive and much more difficult to purchase – a much more thorough analysis, a technical inspection of the house before making a purchase decision is needed. Precisely because of this, many Moldovans this year preferred to buy an apartment in Chisinau.
We will see what will be in the next year, in 2021. So, what do you think, in which direction will the real estate market in Moldova go?
Author: Victor Cernomorcenco
Realization of the analysis by Victor Cernomorcenco, specialist in real estate in Chisinau and representative of Acces Imobil.
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