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Big real estate projects in main regions of Romania concentrated in big cities

Big real estate projects in the main regions of Romania are concentrated in big cities.

Despite the high prices of dwellings, the demand for real estate loans has been growing. In the first four months this year alone, the loans for houses rose 15 percent, from 14.25 billion RON in end 2007, to 16.4 billion RON at the end of April. The distribution of real estate loans in the main development regions in Romania has been quite uniform, with the exception of Bucharest-Ilfov. Bucharest is on top, with 42 percent of the total, and 6.83 billion RON in loans in the first four months this year. At the bottom of the classification comes the southern region of Romania, neighbouring Bucharest. The dwellers in these counties does not look really interested in real estate loans, they had borrowed until end April as much as 923 million RON, or 5.6 percent of the total loans for houses. The low sums borrowed can be a consequence of the poverty of that region. After Bucharest, the biggest borrower, comes the North-West region, with 2.1 billion RON in loans Jan. through April, accounting for 13 percent of the total. In the North-West area, the county of Cluj is leader, with 936 million RON in loans of this kind. The loans of the dwellers of the other counties in the North-West area stand at 200-3000 million euros. Third comes the South-East region, with 9.66 percent of the total credits for houses, and 1.58 billion RON in loans. Constanta city tops this region, with loans in the first four months amounting to 750 million RON. Following are the Center, North-East and West regions, with 7-8 percent of the total each. Last but one came the South-West, with loans of 964 million RON, or 5.9 percent of the total. One euro is traded at 3.65 RON. Sursa: http://www.rompress.ro

Tags: loans total region million billion percent regions romania estate euro

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