Ukrainian banks issued almost UAH 3B of mortgage loans since year-start

"Ukrainian banks reported that they issued 843 mortgage loans worth UAH 666.9 million in May 2021. In total, in the first five months of the year, banks issued 3,651 mortgage loans worth over UAH 2.8 billion. Compared to the corresponding period last year, the new mortgage lending has increased almost 2.5 times in terms of the number of contracts and more than three times in monetary terms,” reads the report.

In May, the share of loans for the purchase of housing in the secondary real estate market was 89% of the total number and 87% of the volume of all issued mortgage loans.

The average loan amount for the purchase of housing in May remained at UAH 791,000.

At the same time, the average amount of a new mortgage loan for the purchase of primary real estate in the reporting month decreased to UAH 878,000 against UAH 925,000 in April, whereas for secondary real estate rose to UAH 780,000 from UAH 771,000.

As reported by Ukrinform, the government program “Affordable Mortgage at 7%” was launched at the initiative of Ukrainian President Volodymyr Zelensky on March 1, 2021.