Spain’s leasing business fell significantly
last year, as demand for investment from SMEs collapsed across the
country.
According to the Asociación Española de
Leasing (AEL), Spanish lessors wrote €7 billion of new business,
which is exactly half the €14 billion figure recorded one year
before.
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Equipment leasing was particularly heavily hit
– totalling €5.3 billion (it reached 11.4 billion the previous
year). Real estate leasing fell from €2.5 billion in 2008 to €1.7
billion.
On a quarterly basis, however, there have
already been two quarters of growth, as SMEs and professionals
across the country have started to invest again in new
equipment.
The total number of new contracts was 110,406
– a third of which were vehicle financing deals.
The province of La Rioja in northern Spain was
the hardest hit, with a 75 percent decline in the value of
transactions. Madrid and Extremadura, however, reported an increase
of around 35 percent each.
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