Housing prices in Ukraine are rising rapidly, but buying an apartment seems almost impossible for most citizens. Even if all income is saved, the average Ukrainian will need about ten years to save up for their own home.
If in 2018 the average cost of housing construction was much lower, now the cost has increased by 200%. At the same time, prices in the primary market have risen by 197%, and in the secondary market – by 160%. It turns out that it is becoming increasingly difficult for developers to maintain profitability, and for buyers – even more difficult to find affordable housing.
Despite the high need for housing, Ukrainians rarely use mortgages - its share in the total number of transactions does not exceed 5.4%. However, this indicator is still better than in 2021, when mortgages covered only 3-3.9% of purchases.
One of the main drivers of the mortgage lending market is the state program eOselya . According to the National Bank of Ukraine, 97% of mortgage loans in 2024 were issued under this program. It allows Ukrainians to buy housing at significantly lower interest rates than a standard commercial mortgage.
The most popular option among program participants remains the secondary market, accounting for 67% of transactions. Another 24% of apartments were purchased in ready-made new buildings, and only 9% were purchased in buildings under construction.
Since the launch of the eOselya , 14,997 Ukrainian families have used it, receiving loans worth over UAH 24.3 billion.
Who can count on an affordable mortgage?
The program is aimed at those who do not have their own housing or live in a combat zone. Primarily, it can be used by:
Military personnel - both active and veterans, as well as their family members.
Medical workers - doctors and nurses of state and municipal hospitals.
Educators - lecturers and teachers of state schools and universities.
Scientists - employees of state and municipal scientific institutions.
Despite all the government's efforts to make mortgages more accessible, they still remain a privilege for certain categories of citizens. And those who do not fall under the e-Housing can only hope for significant economic changes or a decade of accumulation of funds without any costs.
