Ukraine’s mortgage market has stalled – Hetmantsev

He made the remarks to an Ukrinform correspondent on the sidelines of the First Affordable Mortgage Forum.

“My main complaint against the National Bank is that the mortgage market in Ukraine has stalled. It simply does not exist. If we exclude the eOselia program, which is currently very limited, there is no mortgage market at all. And the NBU is paying almost no attention to this,” Hetmantsev said.

He added that the regulator should be more deeply engaged in addressing the challenges of mortgage market development.

Hetmantsev emphasized that changes in lending conditions for commercial banks and easing regulatory burdens imposed by the NBU could create the necessary environment for growth.

“I believe we will find a compromise there and create conditions for the market to develop,” he concluded.

As reported earlier, more than 24,000 Ukrainian families have purchased housing under the eOselia affordable mortgage program, with total investment in housing exceeding UAH 42.8 billion.