“If real estate leasing accounted for 15-20% of the leasing market in 2008, it is now at less than 1%. Basically, there is no real estate leasing,” said Diaconescu.
Real estate leasing was the hardest hit leasing segment during the economic crisis of 2008-2009, back when the market was high and people bout homes and land through all financing means.
“The instrument used for real estate financing now is lending. On this segment, I think lending products are much better at this time,” said Diaconescu.
Leasing financing amounted to EUR1.6 billion last year, according to market estimations, 20% higher than in 2014. The leasing sector has shown signs of sustainable recovery, as 2015 was a second year of market growth. However, the market is still one third in value compared with 2008.
Diaconescu said he expects the local leasing market to grow around 15% this year.
Impuls Leasing, the local division of Austria’s Impuls – Leasing International GmbH, ranks second on the Romanian leasing market, with a market share of 12%. In the first six months of the year, the company granted financing of EUR102 million, up 30% compared with the same period last year.