According to the State Tax Service (STS), in the first 5 months of 2025, the amount of income tax from individuals renting out real estate amounted to 37.1 million lei, up by 30.3% compared to the same period last year. At the same time, from January to May, 11,780 real estate rental contracts were registered, which is 13% more than last year.
During this period, an additional 764 persons renting out real estate were identified. At the same time, after inspections against 101 landlords, basic payments in the amount of 244,600 lei, as well as penalties for late payment in the amount of 10,000 lei and fines in the amount of 13,600 lei were collected from the budget.
According to the legislation, individuals should pay to the State Tax Service not later than on the 25th of the current month the income tax in the amount of 7% of the monthly value of the contract. This also applies to renting out accommodation through Booking, Airbnb and other platforms.
“The rental housing market in Chisinau, after the agitation that was observed during the last three years, has finally calmed down and entered a phase of stabilization,” says the director of real estate agency Nika Imobil Petr Oleinic. – Demand has decreased due to two main factors: the inflow of Ukrainian citizens has decreased, and previously rented housing our fellow citizens, with the help of the Prima Casa program, moved into the category of owners. At the same time, the supply remained approximately at the same level, and as a result, prices stabilized. It may be that nominally the supply prices have not decreased, but the owners of housing are already ready to bargain and make concessions”.
Currently, the rental market is adjusting prices, agrees real estate agency Acces Imobil specialist Viktor Chernomorchenko. “Because when there was an influx of Ukrainians, they were ready to pay any price for rent. But when prices in Chisinau became off the charts, it became more profitable for them to move to Romania, where rent was cheaper, or to Western European countries, where they could get social benefits”.
Specialists note that today the average rental prices for one-room apartments are in the range of 300-400 euros. For two-room apartments – from 400-600 euros per month, depending on the quality and location.
Is it profitable to buy an apartment for rent today, as it was a year ago?
“When you buy an apartment for rent, you get two types of income, – says Peter Oleynik. – On the one hand – directly rent. This income is small, within 5-6% of the cost of the apartment, which corresponds to the approximate rate on deposits. On the other hand – the main income, which depends on the growth of the value of the asset itself, which, in addition to price increases, is also affected by inflation”.
Today the market of purchase and sale of housing is at the stage of stabilization, there is a drop in activity, but so far without a decrease in prices. But if this state of the market lasts, it is possible that there will be sellers who need to sell apartments quickly, and they will start to reduce prices. But this is already the next stage, at which the main income from the asset will decrease, as well as the sense of acquiring housing for rent.
Viktor Chernomorchenko believes that when an investor rents out his apartment, he should expect that it will pay off in about 15 years. Therefore, as housing prices rise, the rental rate grows in parallel.
As for the increase in tax revenues from rental income, experts name a number of factors that encourage landlords to pay tax. The market is legalizing, more rental agreements have been registered with the tax service. A significant share of tenants are foreigners, and all their contracts are legal. They need it to confirm the legality of their stay on the territory of Moldova, to obtain a residence permit, etc. Besides, non-cash payments are developing. A person can live abroad and rent his apartment in Chisinau. It is more convenient for him to administer the income and receive money on the card.
On the other hand, 7% tax on rental income is not such a big amount. This shows that a reasonable tax rate eliminates the reasons not to pay it. At the same time, landlords get a legal contract that can be used as proof of the origin of the money, a source of incidental income for loans, etc.
