After altering the terms of the preferential mortgage program to favor developers, loan issuance fell by 33%.

In February 2025, Ukrainian banks issued 516 mortgage loans totaling ₴926M, which is 7% higher than the mortgage lending volume in January. However, this amount is a third less than in February of last year, according to NBU data. As before, most loans for purchasing real estate were provided through the state affordable housing lending program, eOselya.

The decline in mortgage issuance was influenced by changes to the program introduced last fall. These modifications prohibit most categories of borrowers from obtaining loans to buy apartments in buildings older than three years. The Ministry of Economy stated that this requirement would promote the construction industry’s development.

“The change in the program design is evident in mortgage lending indicators: Lending volumes decreased by a third year-over-year, primarily due to loans for purchasing housing in the secondary market. Meanwhile, the share of mortgages for newly built housing from a developer grew to 38%, as did the share for housing under construction, which reached 13.6%”, explained in the National Bank.