Trends on the real estate market in Chisinau in the first half of 2023

In the first half of 2023, the real estate market in Chisinau continued to be a balanced one and apartment prices practically did not change.

At the moment, on the one hand, we have quite a large deferred demand, a good part of the buyers are still thinking whether to buy now or wait. On the flip side, owners who are truly motivated to sell are forced to drop their prices and accept offers lower than their expectations.

At the moment we have the following prices for apartments:

It is important to emphasize that the prices mentioned are average values and that the evaluation of the price of a property is a complex process based on more than 40 distinct criteria. Among them, there are fundamental aspects such as the location, the age of the building, the type of construction, the series of apartments in the old buildings and the construction company in the case of new buildings.

Aspects such as the number of rooms, the useful surface of the building, its layout, aspects related to ergonomics, the level of the floor where it is located, as well as the general quality of the repair are also taken into account. All of these factors come into play in the price assessment process and are essential in determining the correct value of a property in the real estate market.

Where is the real estate market headed?

To understand where the real estate market will go, whether apartment prices will go down or up in the near future, we need to see what impact the following key factors will have on the real estate market:

CONCLUSIONIn the first half of 2023, the real estate market in Chisinau started to thaw. The demand delayed by the war in Ukraine and expensive mortgages started to be less pronounced.

Apartment prices have remained relatively stable, thanks to the balance between supply and demand. For the rest of 2023, the real estate market in Chisinau will continue to be influenced by economic and geopolitical developments, but the outlook for price stability remains generally optimistic, with the potential for them to increase slightly following the return of investor confidence in the area.