Saturday, 1 November 2025
The number of new building permits issued in Moldova fell in the first nine months of 2025, even as the total value of construction works continued to rise. Data from the National Bureau of Statistics (NBS) show that authorities granted 2,187 building permits between January and September, representing a 7.8% decline compared with the same period a year earlier.
The drop was most pronounced in the non-residential sector, where permits fell by over 22% year-on-year, suggesting weaker investment appetite among commercial and institutional developers. By contrast, residential permits showed only a marginal decrease of 1.4%, indicating that demand for housing remains comparatively stable.
The decline in new permits contrasts with the strong growth recorded in construction output earlier this year. In the first half of 2025, the total value of construction works carried out in the country rose by more than 35% compared with the same period in 2024, according to the NBS. Economists attribute this divergence to the completion of ongoing projects and a rise in renovation and repair activity, rather than new developments breaking ground.
Despite the slowdown in permit issuance, the construction industry continues to play a crucial role in Moldova’s modest economic expansion, contributing to the 1.1% GDP growth recorded in the second quarter of 2025. The sector remains an important source of employment and public investment, particularly in infrastructure and residential renewal.
However, industry observers warn that if the fall in new permits persists, it could lead to a slowdown in building activity in 2026 as the current project pipeline thins. Rising financing costs and cautious investor sentiment, particularly in commercial real estate, are also cited as potential headwinds for new development.
While housing demand remains relatively resilient, developers face ongoing challenges linked to construction material costs, workforce shortages, and slower approvals. For now, Moldova’s construction sector continues to expand on the strength of projects already underway—but the latest figures signal that fewer new ones may be entering the pipeline.
