Even if the phenomenon of mortgage loans in Moldova is two to three times smaller than in the countries of the region and incomparably weaker compared to the developed countries, the situation is still better than 10 years ago. Although the mortgage loans have witnessed a spectacular increase in recent years, they are currently at the beginning of their journey towards forming a civilized market, said expert in economic policies of the Institute for Development and Social Initiatives “Viitorul” Veaceslav Ioniță.
“We are in the situation when the purchase of property through bank loans has become a real, accessible instrument, with calculated risks. I think that with the decrease in interest rates, the slowdown in price increases, the increase in nominal salaries in euros, the Moldovans will continue to borrow from banks. This year we will definitely reach a maximum volume of mortgage loans ever raised,” said Veaceslav Ioniță.
“In the first quarter of this year, loans totaling 1.29 billion lei were taken out, while in the second quarter the raised loans came to 1.58 billion lei. The last time such a record was hit in 2021, the third quarter, when loans totaling 1.53 billion lei were raised. The loans raised in the second quarter of this year were higher in value than ever,” stated the expert.
In the middle of this year, 5,785 mortgage loans were raised from banks. The average size of a mortgage loan was €50,800.
