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Chișinău rent crisis: Soaring prices amid refugee influx

Apartment rents in the capital have skyrocketed, according to real estate agents. Some units now cost over a thousand euros.

This surge is linked to the start of the war in Ukraine, as the influx of refugees has increased demand. Despite the high prices, there's a shortage of available apartments, leaving many struggling to find suitable housing.

Currently, a three-room apartment in Chișinău can cost anywhere from 600 to over 1,000 euros. Real estate agents attribute this price hike to the influx of Ukrainian refugees.

“A one-room apartment in a new building costs around 300 euros, while a two-room apartment goes for 500-600 euros, with prices increasing accordingly. Location is crucial, especially for students who prefer easy access to transportation,” said Daniela Neteda, a real estate agent.

The demand for affordable student housing has surged, putting pressure on the rental market. Despite the increased number of inquiries, available apartments remain scarce.

“The number of inquiries has risen by approximately 40% compared to previous months, largely due to students,” Neteda added.

Residents are grappling with the rising costs of living. Many are expressing frustration over the high rental prices and hoping for a future decline.

“I live in a three-room apartment for 350 euros, which is manageable for now. But there's talk of further increases. Overall, real estate is expensive, and the demands are high,” said one resident.

Another resident shared, “I pay 400 euros for my apartment. It used to be 200.”

With limited housing options and increasing rental costs, many residents are finding it challenging to make ends meet.

“The high prices make it difficult to live comfortably with our current salaries. It’s even harder for students,” said a resident.

In an effort to increase tax revenue, the State Fiscal Service reports a 10% increase in the number of people registering rental contracts in the past seven months. This has generated nearly 41 million lei in additional tax income.

Translation by Iurie Tataru

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