Blocaj fără precedent pe piața imobiliară din RM: volumul locuințelor date în exploatare la cel mai scăzut nivel din ultimii 70 de ani

The article, published by UNIMEDIA, presents an analysis by economist Veaceslav Ioniță of IDES Viitorul, highlighting an unprecedented slowdown in residential construction in the Republic of Moldova. After a peak of 899 000 m² of new dwellings completed in 2021, the volume fell dramatically to 333 000 m² in 2025 and only 17 000 m² in the first quarter of 2026, representing the lowest level in 70 years.

Chişinău, which accounts for roughly 70 % of the country’s new housing, experienced a steep decline: from 203 000 m² in 2025 to just 5 000 m² in Q1 2026, annualised to a historic low of 117 000 m². Nationwide, the metric of square metres per 100 inhabitants dropped from about 40 m² seventy years ago to 10 m² in 2025 and further to 7 m² in early 2026, underscoring a severe supply shortage.

Annualised apartment completions fell from around 8 000 in the 1980s and 6 700 in 2021 to roughly 1 000 in the first quarter of 2026. Over the past three years, only about 4 500 apartments have been finished, fewer than the 4 900 completed in 2023 alone.

While Chişinău has traditionally contributed about 85 % of residential construction value and 70 % of built area, recent data show that new housing outside the capital now exceeds that within the city – a reversal not seen before.

Residential construction’s share of Moldova’s GDP fell to 1.4 % in 2025, compared with 3 % in Romania and 5 % across the European Union, indicating markedly lower public and private investment in the sector.

Experts warn that without reforms to streamline permits and construction processes, the downward trend will persist, deepening the deficit of new homes and aggravating affordability challenges.

Despite a sharp drop in transaction numbers – a 52 % decline in apartment sales in Chişinău within a year – average prices have remained high, ranging between €1 700 and €1 900 per square metre, with no sign of correction.

The analysis suggests that urgent policy measures are needed to unblock the market, improve the efficiency of construction approvals, and boost investment, all of which are essential for advancing sustainable, affordable housing across Moldova and aligning with broader European housing objectives.