László Diósi, OTP Bank Romania CEO, stated that the Romanian economy is facing a new expansion cycle, registering a sharp GDP growth, while its external vulnerability was considerably reduced since the financial crisis in 2008. At the same time, average salaries are facing an upward trend, which, jointly with the previous price corrections on the real estate market, are easing the acquisition of new apartments. Moreover, EU housing data reveal the necessity of new apartments in Romania.
OTP bank representatives estimate a threefold growth of mortgage loans volume this year given that the volume of mortgage loans rose 70% on the year in the first six months of 2016.
At the end of May, OTP Bank decided to raise the down payment required on mortgage loans in lei and foreign currency from 15% to 20%, due to implementation of the law on debt discharge.