Mortgage loans in foreign currency top 3bn euros in September

Mortgage credits taken out in foreign currency exceeded the 3 billion-euro mark for the first time in September, after registering significant increases in the previous three months. The euro is the currency of choice for taking out long-term credits due to the low interest rates and to the appreciation of the exchange rate over the past few years, which eased the repayment of instalments. With a volume equivalent to 8.8 billion RON (2.7 billion euros), mortgage and the real estate loans in euros account for three quarters of financing, according to data from the NBR (National Bank of Romania). Since the beginning of the year, loans in other currencies have gained ground, therefore, nine months into the year, the volume of loans granted in “other currencies” (which generally include financing in dollars and Swiss francs) doubled. Mortgage loans and real estate loans taken out by the population in foreign currency, reached a record 10.3 billion RON in September, up by almost 67% in RON, against the same time last year.