Real estate boom in rural areas in 2018

Chisinau, 27 February /MOLDPRES/- Real estate boom in rural areas. In 2018, 678 individual houses and apartments were put into operation compared to 395 in the previous year, and the surface of the buildings registered a significant increase of 55.4%, according to data by the National Statistics Bureau.

Statistics show that in total, 1 476 individual houses with an area of 182.6 thousand square meters, were put into use, up by 27.7%.

On the other hand, the number of apartments in operation in 2018 dropped by 32.6 percent against the previous year, to 4,532, which led to a overall decrease of 17.4 percent. On the regional level, the statisticians point to increases in the number of dwellings in operation in the North region by 37.9 percent, in the Center region by 33.5 percent and in the South region by 12.8 percent. At the same time, Chisinau municipality recorded a decrease by almost one third.

Cheaper loans for real estate, the launch of state program First Home and increase in household incomes have boosted increasing number of transactions for the sale-purchase of apartments by 10.7 percent in 2018. On the other hand, experts explain the decrease that the real estate market is overstated by offers, after the increase in the number of apartments and dwellings put into operation by more than 50 percent in 2014-2017. Further cheapening of credit and development of the First Home program will lead to increased demand and boost the real estate market.

According to the Ministry of Finance, about 3000-3500 young people will become beneficiaries of First Home program in 2019.