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Real estate crisis in the Republic of Moldova

de Alina Comanciu
Marţi, 22 iulie 2008, 9:21 English | Regional Europe

The credit crisis that has hit the Republic of Moldova might translate into a stagnation or even a real estate crisis, Moldavian experts warn according to Romanian monitoring agency Rador, quoting Radio Romania. Among the causes which might lead to a real estate crisis, there's the dramatic drop of credits by over 50% in the last six months due to the harsh monetary policies of the National Bank.  

Other causes are the prices rises in the construction sector and of old apartments which reached the amazing price of 1,000-1,200 euro per sq meter. Experts argue that this might impact also the construction and the real estate sector, Rador informs.

However, real estate agents are still optimistic, declaring that this situation might actually be attractive to citizens working abroad which make up some 30 to 40% of the real estate transactions. 

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