About 86,600 mortgages were tabulated last year in Romania, up 26.5% to 2023's level. The biggest annual increase, of 107%, was registered in Iasi. However, this was determined by the delayed tabulation of some presales contracts closed in previous years. Significant annual increases in tabulated mortgages were also registered in Bihor, of 65%, in Arges, of 33.6%, and Brasov, where 33% more mortgages were issued last year.
Compared to the total number of home sales concluded last year in Romania, tabulated mortgages hold a share of 51%, according to SVN's calculations based on statistics published by the National Agency for Cadastre and Land Registration. However, it should be noted that the total number of tabulated mortgages also include refinancings, reconversions and restructurings, as well as personal loans with mortgages. Thus, cash transactions still hold the majority of home sales closed in Romania.
”The mortgage market returned to an upward trend since the middle of the last year and we estimate that 2025 will bring an acceleration of the growth rhythm of the mortgage loans granted. A significant part of the financing institutions have already aligned their mortgage offers at a level below 5% / year in the fixed interest rates segment, a level that is attractive for those wishing to finance a home purchase. The mortgage market will continue to develop rapidly in the coming years, especially in the large regional centres of the country, such as Timisoara, Cluj – Napoca, Brasov or Iasi, but also in medium – sized cities,” said Alexandru Radulescu, managing partner SVN Romania | Credit & Financial Solutions.
The next position in the ranking of regions with the most mortgage loans granted in 2024 is occupied by Cluj, with an annual increase rate of 24.7%. The city on the Somes river is only on the six position due to the high level of savings registered in the region, with cash transactions holding thus a large share compared to other regions in the country. Brasov, Sibiu and Bihor occupy the following positions among the regions with the most tabulated mortgages in Romania in 2024, while Arges closes the top 10, according to Ipotecare.ro analysis.
Mortgage loans worth €8.2 billion were granted in total at a national level in the first 11 months of 2024, up 42% compared to the first 11 months of 2023 – please note that this volume also includes refinancings, conversions, transfer and restructurings.
Ipotecare.ro is an exclusively online broker, which uses multiple algorithms for generating the most optimal financing option for each specific situation. SVN Romania | Credit & Financial Solutions is one of the most important mortgage brokers in Romania, with a volume of €160 million mortgages brokered in 2024. The company has four offices in Bucharest and 14 in the country, in Arad, Bacau, Brasov, Calarasi, Cluj – Napoca, Constanta, Craiova, Iasi, Oradea, Ploiesti, Ramnicu Valcea, Sibiu, Timisoara and Targoviste.
