Romania’s BCR Q3 mortgage portfolio up five-fold after approving new crediting rules

The better-than-expected result came after BCR’s crediting regulations were approved and the fast growth of the Romanian real estate market. Mortgage credits in Romania rose 35 percent since the beginning of the year. Bucharest saw a 40 percent increase.

Mortgage credits hold a 3 percent share of Romania’s GDP and could reach 7 percent next year. The BCR manager said some 340,000 new houses should be delivered in the next five years, double against the previous years.

BCR is accepts a maximum debt level of 65 percent of a family’s net revenues. The advance fluctuates between 0 and 25 percent, depending on the loan.

Source: NewsIn