Romania's leasing market growth pace dropped almost five times year-on-year in 2008, and this year’s estimated value, of €5.5 billion, is below the initial forecast.

The international crisis led to the lowest growth rate registered by the leasing market in the past five years, of a mere 11 percent compared to the 45 percent rate registered in 2007.

The value of goods financed in the area of automobile and Real estate leasing amounted to €4.296 billion in this year’s first three quarters, up 29.74 percent year-on-year, according to data provided by the ALB Financial Companies Association in Romania.

“The pollution tax had a negative impact on car leasing, while the dynamics of real estate leasing slowed due to real estate market stagnation and fees charged for leasing real estate transactions,” said Adriana Ahciarliu, Secretary General of ALB Romania.

The value of auto leasing, which makes up 73 percent of the entire leasing market, reached €3.1 bln in this year’s first nine months, while financing for equipment acquisitions, with a 20 percent share of the market, totaled €857.88 million.

Source: Standard.Ro