Moldova's real estate market is on the raise. In ten months of this year, the number of sold and purchased real estate grew by 6%, compared to a similar period in 2016, shows the data of Public Services Agency.
According to experts, among the reasons for this raise counts the economic growth of nearly 4%, as well as bigger incomes of Moldovans. According to them, this trend will maintain into the following year. Moreover, it might cause real estate price to lower.
"This brought constant pressure, in terms of lowering prices per square meters, which made this field more dynamic. The basics is to bring back the national economy, which re-launched certain investment processes and decisions that were frozen for over three years" economic expert Roman Chirca said.
Statistics show that real estate with over 140 square meters were most sought after, experiencing a 10% growth since 2016. During January - October, were sold and purchased over 1 100 houses. Transactions regarding real estate over 140 square meters having increased by 7%.
"If 5 - 10 years ago, the main reason for migrants and abroad money were channeled into the urban area, now it is based on preferences in the residential area, which I believe will become more dynamic" Chirca mentioned.
Sales in apartments with over 70 square meters also rose by 18%. Statistics show that citizens of Moldova have purchased over 22% more apartments between 90 and 110 square meters, despite their share in the total number remaining below 5%. In 2017, a 40% growth of sale and purchase transactions were registered in Vulcănești, Străşeni, Făleşti and Cantemir. In the Capital the increase is of 17%, while in suburbs of 10%.