Real estate market trends in 2022. Forecasts for 2023

2022 boasts a flurry of events that have directly impacted less-than-savory real estate trends. Below we will look at the most important of them.

• The number of new buildings put into operation has decreased significantly, especially in the municipality of Chisinau. This fact is associated both with disruption of the delivery processes of building materials and with an increase in their cost. At the same time, economic instability led to the “freezing” of a number of new construction projects.
• For the same reasons, the volume of construction of private houses decreased by more than 35%.
• At the beginning of the year, the real estate market experienced a sudden and continuous increase in prices for the purchase of housing, and even more for its rental. This fact is caused by a strong increase in the influx of people into the country - stabilization is now observed.
• The purchase of new real estate, in particular apartments, decreased by 3 times compared to last year.
• Inflation has significantly shaken the mortgage market; accordingly, the volume of issued mortgage loans has decreased.
• A significant increase in prices for utilities has caused an increase in demand for apartments with a more modest area with 1-2 rooms.
• There has been a significant decrease in the purchase of apartments in new buildings, which is due to both the small number of offers on the market and the high level of prices.
• At the same time, due to a decrease in the number of offers on the market of new buildings, as well as the high cost of existing offers, the search for apartments on the secondary housing market is growing.
• There is an increase in the number of offers in new houses located on the periphery of Chisinau - Durlesti, Ialoveni, Colonita, etc.

According to analysts, forecasting for 2023 is quite difficult due to the unstable economic situation. At the same time, it is safe to say that the consequences of the stagnation of new construction will be felt through the low number of proposals on the market. As for prices, a significant reduction seems unlikely.

Thus, in the context of the information presented above, thousands of offers have already been collected within the CasaHub platform that meet all market requirements by type of housing stock. The site indicates the exact location of the property, including on an interactive map, and also has a mortgage calculator available in each ad. Discover real estate offersHereand get closer to your own home.
 

Conclusion

In conclusion, 2022 has brought significant changes to the real estate market, with a noticeable impact on new construction projects and prices. A decrease in the number of new buildings and rising prices marked less favorable trends. The purchase of new real estate and apartments has decreased markedly, and inflation has suppressed the mortgage market. Demand for smaller apartments is growing, while supply is concentrated mainly in new blocks on the outskirts of Chisinau. However, the CasaHub platform remains a useful resource, offering thousands of options to suit different real estate market requirements. Predictions for 2023 are difficult, but a slowdown in new construction projects is expected to continue to weigh on low supply, and significant price declines seem unlikely.