Properties on leasing – fresh source of capital in the sector

The leasing of properties is the only segment that increases its deal in the finances of the companies in the real estate sector in Bulgaria. These are the news from Bulgarian National Bank about the leasing companies activities in the end of the past year. The part of the leasing deals has grown from 8.9 % in the end of 2009 to 13.5 % in the end of 2010. The volume of this type of incomings for 2010 is 534 millions BGN and for one year has grown with 20.1 %.

The growth of the leasing deals in the real estates market is due mostly to the so called “back leasing”. This phenomenon describes the case when a company sales its property to the leasing company and after that is buying it on leasing. This gives the chances for the companies to get fresh capitals in the crisis and to cover some debts. On the other side, the leasing companies have the possibility to make some business.

Accordingly to another people in the sector the growth of the leasing deals is due to the finishing of old projects – mainly business centers, industrial properties and trade areas. These are projects started in 2007 – 2008 and finished in the last year. The leasing scheme is as following: the client pays 20 % in the starting of the projects and continues the payment when the building is finished.

Since the beginning of the crisis in 2009 there are almost no deals for new real estates.

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