Real estate under the sirens: what’s behind the January mortgage jump in Ukraine?
24 March 17:00
In January, Ukrainian banks issued 475 mortgage loans totaling UAH 867 million, which is 29% more than in December. This is evidenced by the data of the monthly Survey of Banks on Mortgage Lending, Komersant ukrainskyi reports, citing information from the National Bank of Ukraine (NBU).
Most loans by volume and number were issued in the secondary real estate market. The weighted average effective rate in January was 8.3% per annum.
Residents of Kyiv and Kyiv region took out the largest number of loans for their own homes. There, customers entered into 260 agreements with banks totaling UAH 517.3 million, or 59.7% of the total mortgage volume issued in the month.
Lviv region took the second place. In the first month of the year, 23 agreements worth UAH 45.2 million were signed there.
Ivano-Frankivsk region took the third place in this list. There, 22 people received mortgage loans totaling UAH 33.7 million.
How many mortgage loans were issued by Ukrainian banks in 2024
In January 2024, Ukrainian banks issued mortgage loans for more than UAH 800 million. This is 19% less than in December 2023, but overall the figure remained higher than in any month before 2023, indicating a gradual recovery in demand for housing in the wake of the war.
Key data:
- number of mortgage agreements: 938 transactions (vs. 1,101 in December 2023);
- average loan amount: approximately UAH 904 thousand;
- the main market driver: the state program “eHouse”.
Thus, as the dynamics of the last two years (2024-2025) shows, the demand for housing is stabilizing despite the war. Most loans are issued for secondary housing, but there is also demand for new buildings. Activity is concentrated in relatively safe regions – Lviv, Kyiv, Ivano-Frankivsk, Vinnytsia.
Read also: New housing policy of Ukraine: preferential mortgages, leasing, social rental housing and more
What mortgage lending programs are available in Ukraine
As of 2025: there are several key mortgage programs in Ukraine that are aimed at different categories of citizens and types of housing.
State program “eOselya”
The main preferential mortgage program launched in 2022 and expanded in 2023-2025.
Terms andconditions:
- rate: from 3% to 7% per annum;
- term: up to 20 years;
- down payment: from 20%;
- purpose: purchase of housing (secondary or new construction).
Categories eligible for 3%:
- military (including TRO);
- doctors
- teachers
- researchers.
Categories with the right to 7%:
All other citizens are entitled to 7% if they meet the requirements of the lending bank (income, lack of housing, etc.)
Participating banks:
- PrivatBank;
- Ukrgasbank;
- Globus Bank,
- Oschadbank;
- Sky Bank, etc.
Mortgage for veterans and IDPs
The program is aimed at war veterans and internally displaced persons (IDPs).
Features:
- partial interest compensation;
- possibility to participate in “eOselya” or regional programs;
- priority in the distribution of apartments in some new buildings, especially in the western regions.
Regional mortgage programs
Some cities and regions finance their own housing initiatives:
- Lviv region – subsidized mortgages for young families.
- Kyiv has a down payment co-financing program for public sector employees.
- Vinnytsia, Dnipro, and Ivano-Frankivsk have pilot projects for IDPs and local healthcare workers.
Commercial mortgages from banks
For citizens who do not qualify for preferential programs:
- rate: 14-19% per annum (may vary);
- term: up to 20 years;
- down payment: from 30%.
Banks offer special terms for promotional offers, especially in partnership with developers.
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