Moldovan mortgage market collapses

The mortgage market saw a significant downfall in the first half of the year, compared to 2015. The biggest plunge was recorded in Q2, show data issued by the Cadastru state agency.

With 11,000 mortgage contracts signed in the first half, the year-on-year plunge is 20 %. The fall was 50 % in Q2.

The plot mortgages dropped 70 %, while the apartment mortgages -- 27 per cent.

Economists explain the downfall by fewer remittances and lower consumption. The mortgage market may soon enliven, provided the National Bank develops and applies due policies.

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