REAL ESTATE MARKET RETURNS. Number of requests and number of sold apartments increased
foto: publika.md
After ten years of stagnation, the real estate market has begun to develop. The opinion belongs to the economic experts of "IDIS Viitorul" and the real estate agents. This is due to the fact that the purchasing power of the people has increased and the demand has increased. Profiles and consumers' preferences have changed profoundly. In 2000, the average area of the apartments sold was over 120 m2, in 2010 the area was around 100 m2.
Actually, the average selling area of an apartment is under 70 m2. At the beginning of 2000, the purchase of apartments was a luxury that only a small group of very rich people here and large areas allowed. The years 2006-2012 are characterized by the purchase of the apartments by the citizens who left abroad, the one that changed the profile.
Over the past two years, we have witnessed a reformat on the market. We already have middle and high-income consumers who earn money in the country and decide to buy an apartment. At the same time, the share of new apartments in total transactions decreases. If in the previous years the new apartments accounted for about 30% of the total number of apartments sold this year, they will be just over 20%, which means that the market is booming, but the secondary market and construction companies have not yet benefited from this revival of the market.
"The market moves up the citizens here, who, after 25 years of independence, start to dream of an apartment, won here in the country."
The devastation of the real estate market has led to price changes. For example, in the third quarter of this year, a 70-square-foot apartment sells an average of nearly 37,000 euros, a thousand euros more than in the second quarter, according to an analysis by IDIS Viitorul. Nevertheless, Veaceslav Ionita says the change is insignificant, as Moldovans' incomes also increased.
"In the third quarter, the average salary reached EUR 310. This is 18% more than last year, which means that in fact a Moldovan citizen is almost 20% easier to buy a In order to be clearer, last year you needed 11.7 years to buy an apartment, now we have 9.9 years", said Veaceslav Ionita, an economic expert at "Idis Viitorul".
And real estate experts say they feel the increase in sales.
"The most popular apartments are those with one or two rooms, but the two are in the top. The 143, 135 series blocks are most sought after. These are the houses built in the 80's, 90's, plus the new-family apartments already in operation", said Veaceslav Ionita, an economic expert at "Idis Viitorul".
Moldovans say the purchase of an apartment has become more accessible due to good credit offers, including the "First Home" governmental program.
"I know there are a lot of credits, including the banks, which we can use."
- "You, for example, would you be able to buy an apartment?
- If I married, I think so.
- And would you call for credit?
- I think so."
"How long should it work? Ten or fifteen years, according to salary." "Do you think it's more affordable now than a decade ago?
- Yes, because the credits are more affordable. "
According to official data, nearly 30,000 transactions in apartments and houses were registered in the first eight months of this year, eight hundred more than in the same period last year.
Actually, the average selling area of an apartment is under 70 m2. At the beginning of 2000, the purchase of apartments was a luxury that only a small group of very rich people here and large areas allowed. The years 2006-2012 are characterized by the purchase of the apartments by the citizens who left abroad, the one that changed the profile.
Over the past two years, we have witnessed a reformat on the market. We already have middle and high-income consumers who earn money in the country and decide to buy an apartment. At the same time, the share of new apartments in total transactions decreases. If in the previous years the new apartments accounted for about 30% of the total number of apartments sold this year, they will be just over 20%, which means that the market is booming, but the secondary market and construction companies have not yet benefited from this revival of the market.
"The market moves up the citizens here, who, after 25 years of independence, start to dream of an apartment, won here in the country."
The devastation of the real estate market has led to price changes. For example, in the third quarter of this year, a 70-square-foot apartment sells an average of nearly 37,000 euros, a thousand euros more than in the second quarter, according to an analysis by IDIS Viitorul. Nevertheless, Veaceslav Ionita says the change is insignificant, as Moldovans' incomes also increased.
"In the third quarter, the average salary reached EUR 310. This is 18% more than last year, which means that in fact a Moldovan citizen is almost 20% easier to buy a In order to be clearer, last year you needed 11.7 years to buy an apartment, now we have 9.9 years", said Veaceslav Ionita, an economic expert at "Idis Viitorul".
And real estate experts say they feel the increase in sales.
"The most popular apartments are those with one or two rooms, but the two are in the top. The 143, 135 series blocks are most sought after. These are the houses built in the 80's, 90's, plus the new-family apartments already in operation", said Veaceslav Ionita, an economic expert at "Idis Viitorul".
Moldovans say the purchase of an apartment has become more accessible due to good credit offers, including the "First Home" governmental program.
"I know there are a lot of credits, including the banks, which we can use."
- "You, for example, would you be able to buy an apartment?
- If I married, I think so.
- And would you call for credit?
- I think so."
"How long should it work? Ten or fifteen years, according to salary." "Do you think it's more affordable now than a decade ago?
- Yes, because the credits are more affordable. "
According to official data, nearly 30,000 transactions in apartments and houses were registered in the first eight months of this year, eight hundred more than in the same period last year.