Transaction volumes on the EUROPACE financial marketplace again witnessed considerable growth in the second quarter and have now reached €3.62 billion. The product segment of private mortgages continues to dominate, accounting for more than 90% of total volume (€3.36 billion). Personal loans, a product segment that continues to witness strong growth, accounted for €0.26 billion.
According to statistics issued by Deutsche Bundesbank, the market for private mortgages and personal loans overall continues to show a significant decline in 2008 compared with the previous year. Mortgage financing loans totalled €78.3 billion up to and including May 2007, whereas this year demand has dropped by 8.3% to €71.8 billion. The decline in personal loans is even more marked. The market volume of these loans dropped by 30% from €45 billion to €31.5 billion.
According to Ronald Slabke, co-CEO at Hypoport AG: "We are proud of our continued growth in the second quarter against the market trend. Our strategy of increased expenditure to sustain our growth, even in difficult market conditions, is paying off."
In order to ensure its continued growth, Hypoport is expanding the range of services it offers to large financial product distributors, banks, savings banks and insurance companies, and reinforcing its management in this market segment that it has earmarked for strategic development.