Only a third of Kyiv’s new buildings have joined the state program of preferential mortgage lending “eOselya”, the press service of the investment and development company City One Development told Interfax-Ukraine.
“The number of residential buildings in the capital where you can buy housing under the terms of the state mortgage program eHouse is increasing, now there are 48 of them, which is a third of the primary market in Kyiv. The vast majority of them offer housing in completed and commissioned buildings or in the final stages of construction. Only 13 residential complexes in the capital offer the opportunity to buy an apartment at the construction stage,” said Olena Shyshyna, an analyst at the company.
In her opinion, despite the constant changes, expansion of conditions and increase in the number of participants in the “eHouse”, the number of objects on the primary market, where you can buy an apartment under the state program, is still not enough to stimulate interest in new buildings.
According to the program manager, Ukrfinzhytlo, as of June 24, loans were issued to 11036 program participants for UAH 17.472 billion. Of these, only 359, or 3.25%, were for housing under construction.
The eOselya affordable mortgage program was launched in Ukraine in October 2022. Contract servicemen of the Armed Forces of Ukraine, employees of the security and defense sector, healthcare workers, teachers, and researchers can apply for a preferential mortgage at 3% per annum for up to 20 years with a down payment of 20% of the cost of housing.
Starting from August 1, 2023, war veterans, combatants, internally displaced persons (IDPs) and citizens who do not have their own housing larger than the standard area can apply for the eHouse program at a 7% discount.
Under the terms of the program, privileged categories of participants can purchase housing in a building under construction and buildings not older than 10 years (in the capital and regional centers), while other participants can purchase housing in a building not older than 3 years or a building under construction.
Eight partner banks participate in the program: state-owned Oschadbank, PrivatBank, Ukrgasbank, Ukreximbank, Sens Bank, as well as Globus Bank, Sky Bank, and Bank Credit Dnipro JSC.
City One Development is an investment and development company that provides a range of services in the creation and development of real estate. Among the company’s projects in the capital are Novopecherski Lypky, Boulevard of Fountains, and Sviatobor. The portfolio of completed projects includes more than 900 thousand square meters, 600 thousand square meters under construction.
