In February 2025, Ukrainian banks issued 516 mortgage loans totaling over 926 million hryvnias, which is 7% more than in January, but still a third less than in February of last year. These figures indicate a decrease in activity in the mortgage lending sector, particularly due to new restrictions under the state program for affordable housing ‘eOselya’.
This is reported by Бізнес • Медіа
How Changes in the Program Affected the Real Estate Market
Changes introduced in the fall of 2024 prohibited most categories of borrowers from taking loans to purchase apartments in buildings older than three years. The aim of these restrictions is to stimulate the development of the construction industry and support new residential construction. The Deputy Minister of Economy noted that “the redesign of the program is reflected in the mortgage lending indicators: volumes have decreased by a third year-on-year, primarily due to loans for purchasing housing on the secondary market.”
At the same time, the share of mortgages for ready housing from developers increased to 38%, while for housing under construction it rose to 13.6%. This indicates a shift in demand towards new builds and housing directly from developers, which is part of strategies to stimulate the construction sector.
“The redesign of the program is reflected in the mortgage lending indicators: lending volumes have decreased by a third year-on-year, primarily due to loans for purchasing housing on the secondary market. Conversely, the share of mortgages for ready housing from developers has increased to 38%, as well as for housing under construction to 13.6%,” explained the National Bank.