Property registration up 3.3% y/y and company registration down 16.9% y/y in Jan-2016
Property registration (commercial and residential real estate) increased 3.3% y/y (-35.7% m/m), reaching 35,620 units in January 2016, according to the National Agency of Public Registry. Notably, a sharp increase in primary property registration (+39.0% y/y, 21.1% of total) fully compensated for a decrease in secondary property registration (-3.3% y/y, 78.9% of total).
Company registration decreased 16.9% y/y (-33.1% m/m) to 2,812 units in January 2016. Out of newly registered companies, 97.2% were business legal entities, while 2.8% comprised non-entrepreneurial (non-commercial) legal entities.