The value of mortgage loans granted in Romania in the first quarter of the year was 1.1 billion euros, which is 1.3% more than in the same period in 2022, and 58.2% of the houses sold were bought with cash, according to the report. made by a real estate consulting company based on statistics from the National Agency for Cadastre and Real Estate Promotion (ANCPI).

According to SVN Credit Romania, the percentage of houses bought with a mortgage at the national level was at most 41.8% in the first three months of 2023, and this share was actually lower, taking into account that the total number of mortgages registered during of the specified period, also includes consumer loans with mortgages and mortgage refinancing.

Among the largest regional housing markets in Romania, the highest percentage of homes bought for cash was recorded in Brasov, where more than 69.5% of houses and apartments sold in January-March were purchased this way.

At the same time, the lowest percentage of transactions carried out exclusively from own resources was recorded in Cluj, over 51.6%, less than 48.8% of houses sold here were bought through a mortgage loan, SVN analysis shows.

At the same time, more than half (50.2%) of the total number of housing deals concluded in Bucharest and Ilfov in the first quarter were concluded exclusively at the expense of own funds, while 49.8% were purchased through a mortgage loan.

According to the cited source, approximately 44.2% of houses sold in Timișoara County were purchased with a mortgage loan, the second largest mortgage market nationally in terms of new mortgage loans registered in 2023, after Bucharest – Ilfov region. . Cluj is in third place, followed by Constanta and Brasov in the ranking of regions with the highest number of new mortgage loans in the first three months of this year.

The volume of new mortgage loans granted during the analyzed period amounted to approximately 1.1 billion euros, according to data from the National Bank of Romania (BNR), centralized by SVN Romania | Credit & Financial Solutions, volume up 1.3% from Q1 2022 level.

“2023 began with a 21.1% annual increase in total new mortgage originations compared to January of the previous year. February brought a 0.9% decline, while March saw a 9.3% annual decline in total new originations of mortgage loans compared to March 2022,” the specialist’s report says.

SVN Romania|Credit & Financial Solutions acted as an intermediary in 2022 in the provision of mortgage loans in the amount of approximately EUR 75 million.

The company has local offices in Brasov, Cluj-Napoca and Covasna, while SVN International Corp. has more than 200 offices in eight countries and regions, employing more than 1,600 real estate consultants and administrative staff.