The real estate market in the Republic of Moldova is entering a new phase, characterized by selective growth, an increasingly clear differentiation between investment segments, as well as the emergence of new risks.
In this context, Invest Moldova Agency has launched a study on the evolution of the real estate market.
The study highlights several key findings that outline the outlook for investors, developers, and market participants across the main segments of the real estate market, both commercial and residential.
Above-average investment returns
The Republic of Moldova continues to offer real estate returns that exceed average levels in Central and Eastern Europe, positioning the country as an emerging destination for real estate investment.
Hotel market approaching equilibrium
The hotel sector is approaching a point of balance, where existing supply and projects under development are able to meet current demand. The average room occupancy rate in hotels and guesthouses nationwide reached 47.3% in the previous year. At the same time, according to market experts, the most popular hotels in Chișinău recorded occupancy rates between 60% and 80% in 2024.
Logistics and warehousing: a clear growth leader
Logistics properties and warehousing facilities stand out as one of the best-performing segments, driven by the expansion of retailers, growing distribution needs, and a structural shortage of modern facilities. The total cumulative surface area of logistics warehouses currently used by commercial entities in the Republic of Moldova is estimated at approximately 1.09 million square meters.
Office market: supply exceeds demand
In the office segment, the estimated vacancy rate for Class A spaces in the Republic of Moldova is around 12%, based on gross leasable area. As for Class B and C buildings, these are facing market oversupply. Vacancy rates have reached 22–25%, reflecting slower demand growth, structural changes in the use of workspaces, and increased competition among buildings.
Residential market: rising risk signals
Following a period of rapid price growth between 2022 and 2025, the residential market is showing clear warning signs:
• a decline in apartment sales
• an increase in non-performing mortgage loans
These trends increase risk levels for both developers and private investors and call for a more cautious approach to investment decisions.
Study Conclusions
The real estate market in the Republic of Moldova is no longer uniform. Opportunities remain solid — especially in logistics and income-generating assets — but success increasingly depends on selecting the right segment and the quality of asset location.
The study was prepared by SC Datalinie Business Inginerie SRL, at the initiative of Invest Moldova Agency, and is available in digital format here.