Spanish companies invested €3.57bn in leasing equipment and real estate leasing in the first half of 2021, which was up 36.8 per cent on the same period in 2020, according to the Asociación Española de Leasing y Renting (AELR).

A breakdown shows that new equipment leasing (including plant, machinery, equipment, cars, vans, trucks and buses) grew 36.1 per cent against this time last year, to €3.099bn, while new real estate leasing reached €468,3m, 41.7 per cent higher year-on-year.

Regionally, Madrid leasing contracts were signed for €492,9m, down 5.8% on last year, while in Catalonia business volumes reached €811,2m, an increase of 77.7%.

The average duration of contracts in the first six months of this year was 56.6 months, compared to 55.7 months in the same period in 2020.

The delinquency ratio stood at 2.6 per cent for the first half of 2021, which was below the 3.2 per cent recorded last year. Market penetration reached 68.9 per cent this year, lower than the previous year of 75.6 per cent.

For June 2021 against June 2020, leasing was €782,1m, up 132.9 per cent, while real estate leasing rose 52.7 per cent in June, to €54,6m.

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“As in previous months, the leasing business shows growing dynamism, which we hope will continue for the remainder of 2021, in parallel with the incipient recovery of general economic activity,” said José Coronel de Palma y Martínez-Agulló, president of the AELR, the Association of Spanish Renting and Leasing companies.

AELR was founded in 1978 to represent the interests of companies operating in Spain in the financial leasing and operating leasing sector.

‘European leasing saw 13.4% fall in new business in 2020’