Romania's leasing market could add only 20% this year on stagnate real estate and car leasing

Publish date: 29-08-2008
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Romania's leasing market could advance only 20 percent this year to 6 billion euros as an effect of stagnate financing for real estate and car leasing after a new tax on pollution was introduced last month, in a worst-case scenario, Leasing Companies Association (ALB) representative said.

Last year the market accelerated 51.59 percent to 4.94 billion euros.

The real estate leasing is idling, ALB representative Adriana Ahciarliu said, adding two or three companies already exited the market and currently there are only six or seven companies still operating on the real estate leasing market.

"This is a protection decision against the international evolution and a reaction to the double tax on the real estate leasing," she said.

This market fell way below expectations since the first semester growth stood at only 23 percent this year, while last year the advance exceeded 100 percent. As an effect, this niche also reduced share in the total leasing from 10-11 percent last year to only 5 percent now, Ahciarliu said. The target is to increase this share to last year's value at least, she added.

Moreover, the car leasing market is facing the same problem after a new tax on pollution entered into effect last month. Consequently, the first semester advance slowed down at 37 percent or 2.1 billion euros, according to data from ALB.


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