The minimum number of families participating in the "eOselya" mortgage program in 2025 will be 10,000, which represents a 17.6% increase compared to the results of 2024, reported Deputy Minister of Economy of Ukraine Andriy Teliupa in an interview with the "Interfax-Ukraine" agency.
“In 2024, we achieved a 45% increase in the number of loans compared to the previous year. Of course, we are limited by financial resources, which is why we are collaborating with the World Bank and the IMF on an updated long-term strategy for the "Ukrfinzhytlo" company (Public Joint Stock Company "Ukrainian Financial Housing Company" - IF-U),” he stated.
Teliupa added that considering the recapitalization of "Ukrfinzhytlo" through government bonds worth 20 billion UAH, the ministry plans for the program to continue operating. Since mortgage loans are issued for 20 years, this also implies the program's operation throughout the entire loan term.
The Deputy Minister also clarified that the ministry is currently working on stabilizing the program to reduce ongoing budget infusions.
He noted that there are no alternatives to the "eOselya" program in the market, and in the coming years, a mortgage rate lower than 15% cannot be expected. “As long as market rates remain high, the program must continue to operate and provide Ukrainians with the opportunity to purchase housing – the only alternative would be the complete absence of a mortgage market. However, we are working with the National Bank to gradually lower the market rates of banks. Then we will be able to focus the program solely on priority vulnerable population categories,” the Deputy Minister said.
Speaking about the results of the program, Teliupa reported that in 2024, 8,500 families received housing, and the share of loans in the primary market increased from 20% at the beginning of the year to more than 50% by the end of the year. Tax revenues from developers in 2024 rose 2.2 times compared to the same period in 2023 (1.6 billion UAH in the first half of 2024). Construction, thanks in part to the "eOselya" program, grew by 23.8% from January to September 2024.
According to information on the Ministry of Economy's website, in 2024, partner banks accredited 160 developers at the construction stage from 75 developers. Since the program's inception, 95 developers have joined it, and property rights can be acquired in 209 buildings. Additionally, during the operation of "eOselya," 14,800 families received preferential loans totaling over 24 billion UAH.
The state program of affordable mortgage lending "eOselya" has been operational in Ukraine since October 2022. Military personnel under contract with the Armed Forces of Ukraine, security and defense sector workers, medical professionals, educators, and researchers can apply for a preferential mortgage at 3% per annum for up to 20 years with a down payment starting from 20% of the property's value.
Starting from August 1, 2023, war veterans, participants in combat operations, internally displaced persons (IDPs), and citizens without their own housing exceeding the normative area can apply for participation in the program at a 7% rate.
The program includes 10 partner banks: state-owned Oschadbank, PrivatBank, Ukrgasbank, Sens Bank, as well as MTB Bank, Tascombank, Globus Bank, Sky Bank, Credit Dnipro Bank, and BISBANK. Ready-to-move-in housing can be selected from any developer.