The latest data published by the National Bureau of Statistics show that the number of residential units in the Republic of Moldova, as well as the total area of the housing stock, continues to grow. As of January 1, 2026, the officially registered housing stock (both occupied and unoccupied residential units) amounted to 1,365.3 thousand dwellings, which is 2.1% more compared to January 1, 2025. The total registered housing area as of January 1, 2026, reached 93,379.3 thousand square meters, or 1.7% more than the total housing area registered on January 1, 2025.

At first glance, the situation appears satisfactory, considering that the Republic of Moldova has a population of approximately 2.4 million people (with permanent residence). However, several factors require a different perspective. One of them is related to the geographical distribution of housing. Thus, Chișinău, where approximately one-third of the country’s population actually lives, accounts for only 26.4% of the total number of registered residential units. In addition, according to various estimates, between 90,000 and 120,000 Ukrainian refugees reside in the capital, creating additional pressure on the real estate market.

It should also be noted that despite the ongoing urbanization process, the largest share of the country’s housing stock remains concentrated in rural areas — 748,000 residential units, or 54.8% of the total. At the same time, a significant share of this housing remains unoccupied. According to the 2024 Population and Housing Census, only 62.2% of residential units were occupied. Although the issue of vacant housing is most pronounced in rural areas, it also exists in cities. According to estimates by some real estate market experts, approximately 88,000 apartments in Chișinău are vacant, representing around 23% of the capital’s housing stock. This further contributes to the imbalance between demand and supply on the real estate market. Most of these apartments belong to citizens living abroad who are unwilling to sell or rent them out, as they consider the possibility of returning to Moldova in the future. In addition, a significant share of these properties was purchased for investment purposes or as a means of preserving capital.

Another important aspect is that the largest share of the country’s housing stock is concentrated in the Northern Region — 29.1%, which is simultaneously one of the most depopulating areas of Moldova. The Central Region accounts for 27.4% of residential units, the Southern Region for 13.3%, and the Autonomous Territorial Unit of Gagauzia for 3.8%.

A positive factor is that the share of the capital’s housing stock within the national housing stock has been gradually increasing, although the growth rate remains modest. Between 2022 and 2025, this indicator increased by approximately 0.2–0.3 percentage points annually. Only between 2025 and 2026 was the growth more significant, reaching 1.5%. Time will show whether this trend will continue.

These circumstances deserve attention in order to once again emphasize that, although the number of residential units and the total housing area may appear sufficient for the current population size at first glance, a more detailed analysis shows otherwise. The Republic of Moldova still needs new housing, and public policy in this area should take into account the factors outlined above.

Viorel Godea, General Director of “Lagmar”