Romanian Real Estate Leasing Mkt Tripled In 07, To EUR461.3M

In 2003, the domestic real estate leasing market stood at EUR9.45 million, doubled in 2004 and 2005, and tripled in 2006 and 2007.

Of the total, the segment of industrial buildings stood at EUR214.58 million, up 175% against 2006. Real estate leasing for the office building segment stood at EUR151 million in 2007, four times higher compared to the previous year.

Leasing financing for the residential segment was up 259% on the year in 2007, to EUR85.82 million, a slightly slower growth than in the 2005-2007 period.

The bulk of real estate leasing financers, or 99%, are subsidiaries of banks, while the rest are independent companies.

Romania’s total leasing market by value of financed assets reached EUR4.94 billion in 2007, up 51.33% on the year.