The price of apartments in the capital continues to rise

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Posted by: Rusica Viorica

News / Economic

27 Nov. 2021 / 14:00

The price of apartments in the capital continues to rise

Apartments in Chisinau are becoming more expensive. In the case of housing in new blocks of flats, since the beginning of the year, the price of a square meter has increased by an average of 20%, while for an apartment in an old block of flats people have come to pay 30% more. According to real estate agencies, the main reasons for the increase would be the increase in prices for construction materials and the introduction of a moratorium on construction for another two years, Moldova 1 reports.

Tatiana Sîrbu from the capital and her husband saved money for the purchase of the apartment, with the idea of offering their two children better living conditions. The woman says she is disappointed with the instability of the real estate market in the country and rising apartment prices.

"I think the new apartment is worth more money, because it was built with these prices for building materials that have increased, but the old apartments should become cheaper. There is a need for major repairs and it is very difficult for a young man, a young family to accumulate this money today," said the woman.

And other people I've talked to say that nowadays it's unrealistic to buy an apartment if you work at home. "I don't think it's possible for a young man to buy an apartment without going abroad. It's impossible. You can't make money here to get yourself. I mean, there are different methods, mortgage for instance, I still know things about them”;

"Why is this the case, because it is an artificial demand on the market that is created by the companies that buy, that's why there are such prices," people say.

The main causes that led to the increase in the price of apartments are the increase in prices for construction materials but also the lack of state authorization for the construction of new blocks of flats.

"Prices have increased per square meter, it is normal for them to increase, because everything has become more expensive, starting from materials, land, there is not even land, and prices have increased. The moratorium has been set for another two years, this will again be a stop in prices, as a result of which prices will not decrease but will increase, this is obvious. New constructions will not appear," specified Vasile Cojocari, real estate agent.

In the first 10 months of 2021, the average price of housing increased by 9-11% depending on the neighborhood and the type of apartments.

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