Romania's leasing market could hike 65% this year to EUR 700m, leasing company Immorent says

Miercuri, 16 Aprilie 2008, 00:00

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The real estate market in Romania could grow 65 percent this year to 700 million euros considering that leasing is the long-term financing option for constructions against bank loans, sales manager of Immorent Romania, Vasile Cristescu said.

Real estate leasing rose from some 10 million euros in 2003 to 461.38 million euros last year, following banks' high costs, supported by the obligation to keep minimum reserves.

Immorent estimates to finance goods of 80.5 million euros this year and enter the top 3 financiers of real estate leasing in Romania, with 15 percent market share, from 8.3 percent in 2007.

This year the company plans to diversify its sale channels by combining direct sales with the indirect ones. It also angles to finance private public projects, after a clear law is set in this respect.

The company currently employs 19 people and targets to reach 25 this year. In 2006 Immorent financed goods of 28.3 million euros.

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