The real estate space commissioned in Moldova significantly declined in 2024, marking the lowest level in the past 24 years, according to economic expert Veaceslav Ioniță. "The situation was worse only in 2000, and these developments are reflected in prices and the quality of life," stated the economist, IPN reports.

Veaceslav Ionita recalls that in 2015, 610,000 square meters of residential space were commissioned, in 2021 - 900,000 square meters, and in the third quarter of 2024 - only 325,000 square meters. This decline has primarily affected the real estate market in Chisinau municipality.

The economist also noted that in 2015, apartment prices were below €600 per square meter, while in 2024, the average price rose to €1,250. This price increase is attributed to the rising cost of construction materials. Apartment prices continue to rise due to limited supply, creating conditions for further price hikes, even for older apartments.

Since 2016, real estate price increases have persisted but have not benefited construction companies, Ioniță believes. Between 2010-2014, the price increase was 45.4%, between 2015-2019 - 54.3%, and in the last four years, from 2020 to 2024, it reached 61.7%.

The economist warned that the government's new initiative to introduce a tax will put additional pressure on the real estate industry. According to Veaceslav Ionita, "construction companies will incorporate this tax into apartment prices, and the 0.5% tax will fall on the shoulders of citizens, further distorting the real estate market".