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September 21, 2020
BUSINESS

KPMG: Banks, still cautious about crediting local real estate

The Romanian real estate sector is still in a relative stagnation, and banks will probably keep a cautious stance about lending in the future too, given the share held by bad loans in their portfolios, finds a study of the consulting company KPMG – Klynveld Peat Main Goerdeler – quoted by Mediafax. Ori Efraim, partner and head of the real estate department of KPMG Romania, believes there are signs of renewed interest, especially from Chinese developers. According to KPMG, banks are still prudent about the evolution of real estate markets, possibly except Austria, Poland and the Czech Republic, where the market has not been hit by the financial crisis to the same extent as in other countries. The financing of real estate in Central and Eastern Europe (CEE) gave signs of recovery in the last 12 months, but the evolution of the market continues to be uncertain. Compared to 2010, there was a significant increase of real estate transactions, but these investments were extremely different, depending on country and class of assets.

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