Strict anti-money laundering regulations spark 81% transaction collapse in Chisinau’s property sector
Moldova’s real estate market is experiencing a severe contraction following the implementation of restrictive cash payment ceilings. Local real estate unions report a dramatic drop in sales, prompting urgent calls for legislative amendments to prevent a total market freeze.
The Union of Real Estate Agencies (UAI) indicates that apartment sales in Chisinau fell by approximately 10,000 units in 2025 compared to the previous year. Industry leaders attribute this slump to the €60,000 (approx. 1,176,000 MDL) cap on cash transactions.
**Divergent views on market stagnation
Radu Marian, Chairman of the Parliamentary Committee for Economy, Budget, and Finance, argues that high property prices are the primary deterrent for buyers. He suggests that cash restrictions are a secondary factor compared to the sharp price increases seen in recent years.
However, UAI President Nicolae Balaur contends that demand remains steady, but buyers cannot meet the strict two-year wealth verification requirements. The Union is now lobbying Parliament to extend this justification period to five or six years.
Sharp decline in transaction volume
The scale of the crisis is most evident in the capital. Adrian Toderașcu, a prominent agency owner, noted that Chisinau saw transactions plummet from 23,700 in 2024 to just 14,000 in 2025.
"The fourth quarter alone saw a staggering 81% decrease," Toderașcu stated. To mitigate the impact, the UAI proposes raising the mandatory bank transfer threshold to €200,000, significantly higher than the current limit.
Economic impact of regulatory zeal
Economic expert Veaceslav Ioniță warns that while anti-money laundering efforts are necessary, the state may have "over-regulated." In some Chisinau districts, prices have remained above €2,000 per square meter, further alienating domestic buyers.
"Consumers are frightened by the 2025 price surge and the aggressive cash regulations," Ioniță explained. He noted that some buyers are now forced into unnecessary credit agreements simply because they cannot satisfy immediate cash-provenance audits.
Since the beginning of 2026, the cash ceiling has been further tightened. The limit now stands at 75 average monthly salaries, or approximately €66,000 (1.3 million MDL), down from the previous €80,000 threshold.
Translation by Iurie Tataru
