By KYIV. May 4 (Interfax-Ukraine) – The state program of affordable mortgage lending eOselia is in high demand among potential home buyers, but its implementation is hampered due to insufficient funding, Ukrainian developers state.
“Both banks and developers continue to receive consulting requests for participation in eОselia. Almost half of the appeals to sales departments concern the opportunity to purchase an apartment on the terms of a preferential mortgage from the state,” Hanna Layevska, commercial director of Intergal-Bud, told Interfax-Ukraine.
According to her, 21 Intergal-Bud houses have been accredited to participate in the eОselia program in the metropolitan region, but only nine deals have been signed to buy apartments under this program.
“This figure has not changed for several months, which is primarily due to the termination of funding for the program. Now Ukrfinzhytlo and the government are looking for additional financial sources to continue the program, since demand for participation among potential borrowers is considerable,” Layevska said.
High demand for preferential mortgages was also noted by Serhiy Pylypenko, general director of the Kovalska group. Two houses of the developer are accredited for participation in eОselia, two more residential complexes – 31 and House on Vavilovykh Street with a readiness of 60% – are at the final stage of accreditation.
“The state mortgage program, although it gives buyers hope to purchase housing – and we see this by the number of applications to the sales department – but so far it is working very slowly due to lack of funding,” he said in a comment to Interfax-Ukraine.
In his opinion, both the financing of the preferential mortgage program and the implementation of the state compensation program for destroyed and damaged housing, previously announced for launch in May, will be able to stimulate the primary residential real estate market.
Alliance Novobud told the agency that two residential complexes from the developer’s portfolio participate in the affordable lending program. The developer has concluded two deals under the eОselia program, the last of which was in February 2023. Servicemen became the clients who bought apartments on preferential terms.
