/ VIDEO / Uncertainty and panic on the real estate market in the Republic of Moldova. The war blocked home sales
Uncertainty and panic like a pandemic. In the first week of the war in Ukraine, the real estate market in the Republic of Moldova went through a blockage of home sales. People are no longer interested in apartments, and the real estate money has become confused about the sights they are looking to make. Instead, the requests for rents, the refugees who came to our country, tripled. Now, however, according to experts, the situation is back to normal, and the statistics are not a cause for concern.
With the beginning of the Russian-Ukrainian war, the effects were immediately felt in various areas of our country. Among them is real estate. In the first two weeks, there was a stagnation, as both buyers and sellers were in a state of uncertainty about future actions.
The sellers were confused as to whether or not they were still selling, and the buyers were probably in a situation where they did not know if now was the time to buy your apartment or wait. From Monday, practically, from yesterday, we return to a normal activity. We are now close to the usual traffic, which we had until February 24th.
The war brings instability, said those interviewed in the street, including this lady who says she recently bought an apartment in the capital.
“When you are investing in an apartment in the Republic of Moldova and you do not know what is coming, I think everyone is a little reluctant, whether to do this to buy the apartment or not.”
“I understand that they have become more expensive, but I think it is a crisis and it is related to the situation that is now in our country. It was the pandemic period, now is the time of the war, which is in Ukraine and I believe that the transport of raw materials is a factor that leads to an increase “.
“Real estate prices continue to rise, but our incomes are not rising, our salaries are not rising.”
“I think this, first of all, has to do with the current situation in the region and I believe that people are panicking and doing actions that do not bring results. First of all, everyone should calm down, because in fact, in this activity there is also an information war. And everything we hear or see, you have to divide by ten and then make a decision. “
And real estate experts say that the demand for apartments has fallen for a short time, against the background of citizens’ concerns caused by the Russian-Ukrainian war. The same was true at the beginning of the pandemic, when people acted on a background of panic.
“As the conflict in the neighboring country began, many people who intend to procure it postponed these transactions until the situation stabilized. But people who intend to procure this transaction could not be postponed, anyway they went into transactions and received the real estate ”.
And if the sales of apartments have decreased in these conditions, the demand for rents has tripled with the arrival of Ukrainian refugees in the Republic of Moldova. Most apartments were rented not for one year, but as a hotel. However, experts say that for several days now, the situation on the real estate market has returned to normal, and the statistics at the beginning of this year are similar to those of last year.
“So, in the first week, there was an uncertainty, bigger, more pronounced, but along the way, people somewhere may have already learned and the situation is thawing. As for house prices, they are on average 30-35 percent higher compared to last year.
Thus, this apartment costs around 148 thousand euros and is listed as a luxury. Even if the amount is dizzying, the future owner will move with his hands in his pockets, say the sales agents, because the house is ready head to toe. Why, along with other price increases, this year, the real estate market has also taken off, explains the sales agent.
According to the latest data from the National Bureau of Statistics, last year, 8.8 thousand individual apartments and houses were put into operation, 1.3 thousand more than in 2020.