The total volume of mortgage loans in the banking system as of June 1, 2026, reached 50 billion hryvnia, or about 4% of all loans issued, said Olena Dmitrieva, First Deputy Chair of the Board of Globus Bank, on Wednesday during the analytical panel “Market Analytics for the Construction and Real Estate Sectors for the First Half of 2026,” organized by the Confederation of Builders of Ukraine.
“The real estate market is gradually adapting to the conditions of war, but demand remains highly sensitive to shelling, power outages, and rising construction costs. At the same time, the share of mortgages in the total number of residential purchase and sale transactions still accounts for only about 3%,” noted Olena Dmitrieva.
According to her data, as of June 1, 2026, the total volume of mortgage loans in the banking system reached 50 billion hryvnia, or about 4% of all loans issued. Over the past year, banks’ mortgage portfolios have grown by 35%, while the total loan portfolio increased by approximately 10%.
She also emphasized that approximately 42,000 Ukrainian families currently hold mortgage loans, representing only 0.4% of the total number of households. The share of non-performing loans in this segment stands at 12%, primarily due to older foreign-currency loans.
At the same time, the number of new mortgage loans has not yet returned to pre-war levels. In 2025, banks issued about 77% of the number of loans granted in 2021.
“Mortgage portfolios are indeed growing much faster than the credit market as a whole. However, the main driving force behind this growth remains ‘eOselya.’ Without government support, the scale of mortgage lending would be significantly smaller,” Dmytrieva emphasized.
On average, banks issue about 207 loans per month secured by property rights to apartments in buildings under construction, as well as about 238 loans for the purchase of completed housing from developers. Thanks to these two areas of mortgage lending, construction companies receive about 884 million UAH, or approximately $20 million, each month.
Since the “eOselya” program began, about 28,000 loans have been issued for a total of 49 billion UAH. Currently, it accounts for 93% of all new mortgage loans in Ukraine.
Globus Bank was founded in 2007. As of January 2026, its regional network comprises 34 branches, 29 of which are part of the Power Banking network, enabling operations even during power outages.
Its priority areas of activity include lending for energy-efficient projects, mortgage lending in the primary market, auto loans, and lending to small and medium-sized businesses.
Serhiy Mamedov, Chairman of the Board of Globus Bank, is Vice President of the Confederation of Builders of Ukraine and Vice President of the Association of Ukrainian Banks.
In 2025, Ukrainian banks issued 8,282 thousand mortgage loans worth UAH 15.69 billion, which is 4.3% more than in 2024, when 8,807 thousand loans worth UAH 15.05 billion were issued, while the number of loans issued decreased by 6.0%, according to the results of a survey by the National Bank of Ukraine (NBU).
“The quality of the mortgage portfolio remains high: the share of non-performing loans is only 13%,” the regulator commented on the results.
According to the National Bank, in December 2025, 952 mortgage loans were issued in Ukraine for UAH 1.96 billion, which is 28.3% more than in November, when 743 loans were issued for UAH 1.52 billion.
As specified by the NBU, out of 38 banks surveyed, 14 financial institutions issued mortgage loans in December last year. Most of the deals were concluded in the primary housing market: 539 in December for UAH 1.13 billion, compared to 434 in November for UAH 0.91 billion.
On the secondary housing market, 413 deals were concluded for UAH 0.83 billion, compared to 309 in November for UAH 0.61 billion.
The weighted average effective rate in the primary housing market in December 2025 decreased to 8.11% per annum (8.14% in November), and in the secondary market to 8.66% (9.42%).
Survey data show that in December 2025, most loans were issued in Kyiv and the Kyiv region – 538 for UAH 1.18 billion (60.1% of the total volume), followed by Lviv region – 47 loans worth UAH 103 million, Odesa region – 40 loans worth UAH 78 million, and Volyn region – 38 loans worth UAH 69 million.
As reported, partner banks of the state affordable mortgage program “єОселя” issued a total of 7,769 loans worth almost UAH 15 billion in 2025, including 4,881 loans for “first sale” housing, including 1,499 apartments in buildings under construction.
The head of the parliamentary committee on finance, tax, and customs policy, Danylo Getmantsev (Servant of the People faction), announced the first meeting of the interdepartmental parliamentary-governmental working group on the implementation of the affordable housing construction program.
“The state should assume the inflation risks in this model. The key instrument should be a state mortgage at 3% per annum for a term of up to 25 years,” he wrote on his Telegram channel.
According to him, the meeting participants agreed that the mortgage system in Ukraine is “critically underdeveloped” and that the ratio of mortgage lending to GDP is one of the lowest in Europe (less than 1%).
Getmantsev stressed that the housing program is designed for approximately 1 million families, and potential participants include military personnel, teachers, medical workers, internally displaced persons, large families, and social workers.
At the same time, the implementation of the program should not lead to the creation of isolated housing estates, and new housing should be integrated into communities.
The working group has been tasked with preparing proposals for financing the program through bank loans, the issuance of mortgage bonds, assistance from international partners, and the issuance of government bonds. He said the next step would be an open dialogue with representatives of the construction industry to develop “balanced and realistic solutions.”
As reported, partner banks of the state affordable mortgage program “eOselya” issued a total of 7,769 loans in 2025 for almost UAH 15 billion, including 4,881 loans for “first sale” housing, including 1,499 apartments in buildings under construction.
The impact of mortgages on the housing market in Ukraine remains limited: less than 3% of housing is purchased on credit, with the share varying significantly by region, according to the NBU’s financial stability report for December 2025.
According to the regulator’s estimates, in the Kyiv region, the share of home purchases with mortgages is almost 9%, while in the central, southern, and eastern regions, new mortgages are “almost non-existent.” In the segment of new buildings up to three years old, mortgages are used significantly more often — the NBU indicates that every fifth apartment in this segment is purchased on credit, as the eOselya program is concentrated there.
The NBU draws attention to the low mortgage rates in complexes under construction and notes that about 44% of transactions are for ready-built housing from developers. At the same time, almost 300 complexes under construction have been accredited for sale through eOselya, but most of them have not yet sold any apartments with mortgages. The regulator expects mortgage lending to pick up after the state support mechanisms are updated and, at the same time, emphasizes the need for other steps, including the implementation of Directive 2014/17/EU on mortgage credit, the introduction of European property valuation standards, and increased transparency of real estate price data and control over construction financing.
Banks in Ukraine in September 2025 issued 851 mortgage loans worth UAH 1.62 billion, which is 13.1% more than in August, when 789 loans worth UAH 1.43 billion were issued, according to the results of the monthly survey of the National Bank of Ukraine (NBU).
“The quality of the mortgage portfolio remains high: the share of non-performing loans is kept at 12%,” the National Bank commented on the results.
According to the central bank, compared to September 2024, the volume of loans issued increased by 35.4%.
As specified by the NBU, among the 39 banks surveyed, together forming more than 95% of the gross mortgage portfolio, in September new loans were issued by 14 financial institutions.
Most transactions were concluded in the primary housing market: 532 in September for the amount of UAH 1 billion against 480 in August for the amount of UAH 0.89 billion.
In the secondary housing market, 319 transactions were concluded for UAH 0.62 billion, while in August – 309 transactions totaling UAH 0.54 billion.
The weighted average effective rate in the primary market in September remained at the level of 8.13% per annum, while in the secondary market it increased to 9.37% from 8.99% in August.
The survey data show that the most loans in September were issued in Kyiv and Kyiv region – 458 for UAH 949 mln (58.6% of the total volume). Next come Lviv region – 46 for UAH 95 million, Ivano-Frankivsk region – 53 loans for UAH 90 million and Volyn region – 35 for UAH 61 million.
As reported, the National Bank on July 18 this year released a strategy for the development of mortgage lending. The document prioritizes risk reduction through the launch of mass insurance of war risks and updating the rules in the field of housing construction.
The strategy also provides for easier access to mortgages through modernization of state support mechanisms and increased transparency of information in accordance with EU requirements, as well as strengthening the protection of creditors’ rights by updating procedures for dealing with bad debts.
Consulting firm Deloitte has released the 14th edition of its Property Index 2025 report on European housing markets. The study covers 28 countries. Ukraine was not included in this study.
The highest average mortgage rates are in Hungary (9.35%), Poland (7.67%), and Romania (6.89%). Deloitte
The lowest are in Bulgaria (2.83%), Croatia (2.86%), and Turkey (3.01%).
The average rate in Europe is 4.36%, which is slightly lower than last year and reflects the gradual easing of monetary policy in a number of countries.
Deloitte notes that against the backdrop of a “bottleneck” with new projects and sustained demand, the rental segment is strengthening (rates are rising not only in capital cities but also in regional centers). At the same time, high rates and regulatory lags in permits continue to put pressure on property affordability, especially in large agglomerations.
Deloitte Property Index 2025 — a comparative study of European housing markets: prices for new buildings, affordability (in years of gross salary for a 70 m² apartment), rental dynamics, and mortgage rates. Key findings and figures are available on the Deloitte Property Index 2025 report page.
