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Reluctant banks drive real estate developers into new funding territory

Funding remains the main problem facing the real estate market in Romania. Whether it involves development or acquisition projects, banks have become increasingly selective in their choice of partners. In these circumstances, some investors have staked their own money, while others have tried to find alternative sources of funding, such as EU funds (for office and industrial buildings) and the capital market.

June 2013 - From the Print Edition

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"We believe that bank financing for real estate investment will remain quite restrictive given that banks are still cleaning their damaged balance sheets of bad loans," Marius Grigorica, senior business analyst in the investment department at DTZ Equinox, told The Diplomat - Bucharest.

He does not expect major improvements while macroeconomic fundamentals remain tight, despite growth of about 1.5 percent estimated for Romania in 2013. "Major banks in Romania are conne...

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