Ukraine is currently experiencing the largest housing deficit in its history, and the state program for subsidized mortgages, “eOsely,” is preparing for significant changes in the coming years. According to the approved Development Strategy of the “Ukrainian Financial Housing Company” for 2025–2029, over the next five years, this institution will gradually transition to market lending conditions, while maintaining favorable terms for the most vulnerable segments of the population.
This is reported by Business • Media
Main Development Directions of the “eOsely” Program
Among the key priorities of the strategy is the scaling of the “eOsely” program, which will allow for over 70,000 new homeowners. It is planned to expand the list of citizens eligible for a mortgage at a 3% interest rate and to implement modern financial instruments, including mortgage-backed securities (MBS), real estate investment trusts (REIT), and a new rent-to-own program.
Special attention is given to the digital transformation of services with the creation of the “Mortgage on the Phone” ecosystem, which will provide convenience for users. There is also a plan to consolidate state housing programs under the auspices of “Ukrfinzhytlo”: in addition to the existing “eOsely” and “eRecovery” programs, social rental and rent-to-own programs may be added.
Investments, Market, and New Opportunities for Ukrainians
The company’s strategy envisions active collaboration with international partners to attract investments, as well as a gradual shift to non-fiscal sources of funding. After implementing all changes, “Ukrfinzhytlo” plans to become the sole operator of housing programs with a capitalization of 200 billion hryvnias and a move away from budget financing.
“The total area of credited housing within the “eOsely” program exceeds 1 million square meters.”
Despite significant development of the program, the total housing need in Ukraine amounts to 600 million square meters. Of this, 450 million square meters represents the deficit that formed even before the onset of full-scale war, while 150 million square meters is housing destroyed as a result of hostilities. With an average market price of 38,000 hryvnias per square meter, the potential demand for housing is currently estimated at 22.8 trillion hryvnias.