“(…) While in 2012, approximately 10% of the clients already owned a home when they took out a loan to buy another one, in 2013, there are almost 29%. These data emphasize that the real estate market follows a steadiness trend (…),” stated Teodor Mincu, head of partners management office with BCR.
The average value of a mortgage loan given by BCR in the capital city, Bucharest is at RON180,000 (EUR41,000), while nationwide, it exceeds RON140,000 (EUR31,700).
Several counties register higher-than-the-average mortgage loan values: Brasov (RON145,000), Constanta (RON145,000), Iasi (RON152,000), Timis (RON149,000), while the value of mortgage loans is lower than the average in the following counties: Bacau (RON107,000), Bihor (RON112,000), Cluj (RON124,000), Dolj (RON125,000 lei) and Sibiu (RON128,000).
In 2013, 46% of BCR mortgage loans nationwide were used to buy two-room apartments, 23% for three-room apartments, while 13% were used to buy one-room apartments. Around 14% of the loans were used to buy a house and 4% for four-room or larger apartments. Most of the loans in Bucharest, namely 48%, were given for two-room apartments.
BCR is Romania’s largest bank by assets (over EUR15 billion).