Prices of old apartments on the rise

In the first half of 2008, the demand for apartments on the secondary market continued to increase. The price of a square meter rose by an average of 10-15% compared with last yearend, to the psychological value of 1,000 euro per square meter. In downtown Chisinau, one square meter of dwelling cost even more than 1,200 euros, Info-Prim Neo reports. According to an analysis by the realty agency Lara, the prices on the secondary market have increased because not all the people can afford buying large areas in new houses and have money for extensive repair. The distrust in the quality of the new houses has also contributed to a higher demand on the secondary market, experts say. The one-room apartments located in relatively cheap houses dating from the Soviet period are in great demand. From geographic viewpoint, the highest rises in prices were recorded in such inexpensive areas as Posta Veche, Botanica de jos and Rascanii de jos. The prices of “cheap” apartments increased by 15%-18%. The modern, business-class apartments and those located in the prestigious districts of Chisinau grew dearer by 10% on average.