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Though the first companies offering property leasing appeared in Poland all of a decade ago, the market is neither mature nor developed. Real estate accounts for a bare 10 percent of all leased properties, while the West European figure is almost twice as large. Leasing firm managers explain that weakness in various ways. Continuous downward slide Property leasing should rival loans as a competitive form of investment financing. But the distance between these two financial services is widening instead of narrowing. Several leasing companies have, in practice, retreated from the real estate sector. That is true of the BRE Leasing company which last year leased properties worth barely 12 million zlotys, whereas the value two years ago was 226 million zlotys! Second in the market, ING Lease Polska, has reduced its turnover by around 40 percent. Krzysztof Bielecki, ING Lease president ensures, however, that it is a coincidence, since it would suffice to sig