Austrian Leasing Business Shrinking
In the first half year of 2012, the Austrian leasing industry recorded a new leasing business of € 2.6bn. Against the reference period of 2011, this is a decrease by 19.2%.
Michael Steiner, President of the Federation of Austrian Leasing Companies explained that the first half year of 2012 was hit by the increasing uncertainty and the crisis in the Eurozone.
The business volume in the mobile leasing segment was down by 14.9% to € 566m.
In the real estate leasing segment, new business fell radically. With a decrease of 68.9%, the market almost collapsed. The new business volume reached € 226m. However, the Austrian real estate leasing segment shows a very high degree of volatility. Besides the austerity measures, the absence of major projects caused this remarkable slump.