The mortgage lending market in Ukraine is demonstrating steady growth, despite ongoing military risks and economic uncertainty. As of June 1, 2026, the total volume of mortgages in the country reached the mark of 50 billion hryvnias. However, as data from the banking sector shows, market development is occurring almost exclusively due to state support.
Market Structure and the Role of the State
The key driver of growth has been the state program «єОселя» (eOselya). According to Elena Dmitrieva, First Deputy Chairman of the Board of «Globus Bank», 93% of all new mortgage loans are issued within the framework of this state program. This indicates that without state interest rate subsidies, the market functions extremely limitedly.
In the first half of 2026, the volume of lending under the «єОселя» program grew to 8.4 billion hryvnias, which significantly exceeds the figures for the same period last year (5.5 billion hryvnias). For comparison, the total volume of housing lending in the country, despite the growth, remains relatively low: housing loans are held by about 42,000 Ukrainian families, which is only 0.4% of the total number of households.
Shift in Preferences: Surge in Demand for Off-Plan Properties
Analysts are recording a significant change in the structure of mortgage disbursements. In 2026, there is a sharp increase in demand for apartments in buildings under construction. The number of loans issued against property rights to apartments in objects under construction increased by 146% compared to 2025.
The share of such loans in the overall structure of mortgage disbursements grew from 17% to 27%. Banks issued 616 more loans against rights to unfinished construction than the year before. This change is becoming an important factor for developers, who receive about 884 million hryvnias monthly thanks to mortgages, serving as a substantial source of financing for new construction.
Changes in Conditions and New Borrower Categories
The «єОселя» program was expanded to cover a wider range of citizens. In particular, conditions for two-person families were changed: the maximum housing area for them was increased from 52.5 to 73.5 sq. m., as these families constitute the most numerous category of borrowers.
The program has also become more accessible to certain categories of citizens due to the compensation of part of the down payment and payments in the first year. The share of participants with disabilities (PWD) among borrowers has risen to 20%. In addition, mobilized citizens, who have been given the opportunity to obtain mortgages at 3% per annum, make up about 7% of all borrowers.
Outlook: Program with the World Bank
To take the market beyond exclusively state programs and ensure its further development, experts are considering new mechanisms. An important event of 2026-2027 is expected to be a joint program between «UkrFinZhillya» and the World Bank worth $390 million.
This initiative provides for compensation of up to 20% of the loan amount and reimbursement of interest over 4 years, focusing primarily on the secondary real estate market. Over 3 years, up to 30,000 new loans are planned to be issued under this model. Elena Dmitrieva notes that such a compensation model can make mortgages more accessible, but long-term prospects will depend on requirements for bank capital and the strengthening of creditor rights protection.
Contradictory Data
While statistics record a growth in loan disbursement volumes, experts point to structural problems. On the one hand, there is an increase in the number of transactions and financing volumes. On the other hand, experts note that for real mass assistance to Ukrainians with housing, about 100,000 mortgage loans need to be issued annually. Current rates, even accounting for growth, are far from this figure, creating a gap between the statistical growth of the market and the real accessibility of housing for the broad masses of the population.
