Restoring the country and returning millions of people home requires colossal resources. According to experts, Ukraine needs to build at least one million new apartments to provide housing for internally displaced persons (IDPs) and address the primary need for housing stock restoration.

These figures were stated by Yevhen Metsger, Chairman of the Board of JSC "Ukrfinzhylle", in an interview with RBC-Ukraine. According to him, the need for a million apartments is just the urgent part of a much larger problem facing the state.

A Deficit of 24 Trillion Hryvnias

The overall gap in the country's housing sector, assessed jointly with the World Bank, amounts to astronomical figures. The deficit of quality housing is approximately 600 million square meters, which in monetary terms equals about 24 trillion hryvnias. This sum consists of two critical components:

  • Historical deficit: approximately 450 million square meters. This is the accumulated gap over 30 years in providing citizens with quality and energy-efficient housing according to European standards.
  • War and destruction: approximately 150 million square meters. This is almost 13% of the country's entire housing stock, which was destroyed or damaged as a result of the full-scale invasion.

Metsger emphasizes that existing tools are not capable of closing such a huge gap on their own. The preferential mortgage program "єОселя", launched by the state, is an important but insufficient mechanism for solving a task of this scale.

New Mechanisms: From Mortgage to Rental

Global practice offers various models for housing provision: classic mortgages, leasing, social funds, and rent-to-own schemes. In Ukraine, the state has so far fully implemented only the mortgage model. Social rental, which could be a lifeline for many, is practically non-existent and needs to be created from scratch.

At "Ukrfinzhylle", priority development directions have been identified. In the near future, the introduction of social rental housing and a rent-to-own mechanism is planned. These tools should complement the existing "єОселя" program, allowing people with different income levels to find a roof over their heads.

Statistics of the "єОселя" Program

Despite the scale of the problem, the preferential mortgage program has already started working. Since the initiative began, 4,852 people with the status of internally displaced persons have received loans. However, it is important to note that only 2,188 borrowers applied for loans specifically under the IDP category.

The rest of the program participants with IDP status obtained loans under other preferential categories, such as military personnel, medical workers, or teachers. This indicates that targeted support is working, but to cover the need for a million apartments, additional channels of financing and construction must be activated.