On 8 July 2026, the Public Institution "Cadastru" published an official announcement stating that the methodology used to compile real estate transaction statistics had been revised by including applications processed through the Electronic Services Development Platform (PDSE).
As a result, the published statistical indicators may show significant increases, while the updated data provide a more complete and accurate picture of the actual number of real estate transactions registered during the previous year.
According to the revised statistics published by the Cadastre Agency, 14,342 completed apartments were sold in the municipality of Chișinău and its suburbs in 2025, representing an 11.2% decrease compared with 2024, when 16,141 transactions were recorded.
Compared with the statistics initially released - which reported only 6,334 apartments sold and a 61% decline from the previous year - the revised figures significantly change the perception of the market's performance and provide a much more realistic assessment of its evolution.
At the same time, the number of apartments purchased through mortgage financing increased to 7,631, representing 53.2% of all transactions. By comparison, 6,867 mortgage loans were recorded in 2024, meaning an increase of 764 mortgages, or 11.1%.
This result demonstrates that bank financing remained the primary driver of the residential real estate market, even amid a decline in the overall number of transactions.
Overall, the revised data indicate that the Chișinău real estate market did not experience a collapse in 2025, but rather entered a period of moderation following the rapid growth recorded in previous years. The moderate decline in transaction volume, combined with the increase in mortgage lending, suggests that the market is undergoing a process of adjustment and stabilization, with demand continuing to be driven primarily by buyers relying on bank financing.
The decline in the number of real estate transactions recorded in 2025 was driven by several economic and regulatory factors. Among them, three had the greatest impact on buyers' behavior and on the dynamics of the residential real estate market in Chișinău and its suburbs.
One of the main factors behind the decline in transactions in 2025 was the rapid increase in housing prices over recent years. According to the Acces Imobil Real Estate Index, the average apartment price in Chișinău nearly doubled, rising from approximately €850/m² in 2021 to €1,720/m² in 2025. The index is calculated based on all types of apartments sold, including both newly built and existing residential buildings, regardless of their condition (renovated, white shell, or unrenovated).
This sharp increase significantly reduced housing affordability and led many potential buyers to postpone purchasing a home while waiting for prices to stabilize or for financing conditions to become more favorable.
Housing prices increased much faster than household incomes, resulting in a significant deterioration in housing affordability. In 2020, purchasing one square meter of residential space required the equivalent of 1.7 average monthly salaries. By 2025, this figure had increased to 2.1 average monthly salaries, representing a 23.5% increase in the financial effort required to purchase a home.
As a consequence, the estimated time needed to purchase a 60 m² apartment, based on average household income, increased from 8.7 years in 2020 to 10.4 years in 2025. The decline in affordability reduced the number of people who could realistically afford to buy a home, contributing to weaker demand across the residential property market.
Another factor that influenced the real estate market was the introduction of mandatory bank transfers for high-value property transactions. On 1 April 2025, Law No. 34/2024 entered into force, establishing limits on cash payments with the objective of increasing financial transparency and reducing the informal economy.
Under the new legislation, real estate transactions exceeding the equivalent of 100 average monthly salaries (approximately €80,000 in 2025, based on the forecast average monthly salary of 16,100 MDL, established by Government Decision No. 845/2024) must be settled exclusively through bank transfer.
The implementation of these new payment requirements, together with significantly stricter verification of the source of funds and additional banking procedures, made the home-buying process more complex and time-consuming. As a result, some potential buyers chose to postpone or abandon their plans to purchase residential property.
CONCLUSION
The revision of the statistics by the Public Institution "Cadastru" provides a much more accurate picture of the residential real estate market in Chișinău. The updated data show that, contrary to the initial statistics, the market did not experience a collapse in 2025, but rather recorded a moderate decline of 11.2% in the number of apartment transactions compared with the previous year.
This revision highlights the importance of using comprehensive statistical data and a consistent methodology when assessing real estate market performance. Reliable and transparent statistics are essential for accurately evaluating market trends and for supporting informed decision-making by investors, homebuyers, developers, financial institutions, and public authorities.
Author: Victor Cernomorcenco
Realization of the analysis by Victor Cernomorcenco, specialist in real estate in Chisinau and representative of Acces Imobil.
Disclaimer: The copying, use or distribution of data on the Acces Imobil Real Estate Index is permitted only with the obligation to specify the source and to place an active link to accesimobil.md.
