OREANDA-NEWS. August 12, 2009. According to the real estate exchange’s experts, following the reduction of prices for the last 6 months, the average cost of supply of a square meter of dwelling in the capital’s primary market reached the June level of 2008 while the real sales were made at the price of up to 600 euros for a square meter.

The number of transactions signed in the primary real estate market of Chisinau in January-June 2009 reduced by 55 per cent against the same period last year. Experts say a considerable reduction of currency receipts from our compatriots working abroad and the expectation of the fall of prices making many citizens give up purchase of dwelling are the reasons for that. Besides, consumers became more scrupulous and fastidious to the consumer qualities of dwelling and financial problems faced by some builders discourage potential clients and decrease their trust in the primary market.

Experts also connect the reduction in demand for dwelling with the forecasts of worsening of the economic situation in the country, citizens’ distrust in local currency and stability of the financial system, expensiveness of mortgage credits; expectation of the political instability in the country.