The Public Joint Stock Company "Ukrainian Financial Housing Company" ("Ukrfinzhytlo") plans to attract international funds in the future, as stated by the company's chairman, Yevhen Metzger.
"The state budget for 2024 allocates an additional capitalization of "Ukrfinzhytlo" in government bonds (OVGZ) amounting to 20 billion UAH by the end of the year. The company's strategy includes further capitalization for the next year, an additional 30 billion (UAH – IF-U). However, this should be discussed not only within our Cabinet but also with donors, including the IMF," he informed the "Interfax-Ukraine" agency.
He emphasized that additional capitalization does not imply that billions of hryvnias will flow into the company's accounts. The issuance of additional securities for "Ukrfinzhytlo" will allow for greater attraction of funds in the Ukrainian financial market to finance and continue the program. Overall, the company's financial model foresees borrowing against government bonds (OVGZ), which constitute its authorized capital.
According to him, the increase in capitalization has already been discussed with the IMF mission in Ukraine, but in the future, "Ukrfinzhytlo" aims to attract funds from international open markets. Conceptually, work on this possibility is already underway, particularly "the company is being built on all principles of transparency and corporate governance."
"Currently, we have all the prerequisites to move towards attracting foreign funds. We expect, possibly in the coming years, $200-250 million equivalent in initial borrowings from international financial institutions," he noted.
Metzger highlighted that thanks to the program, new housing is becoming more accessible. Specifically, the average payment on all issued loans is 14,500 UAH, while the average income of borrower families stands at 42,000 UAH.
Loans under the "eOselya" program have been taken in 404 populated areas, with 19.5% of preferential loans issued in the capital, 33% in regional centers, and 23% in other cities and villages.
The development of primary market lending in the regions is one of "Ukrfinzhytlo's" priorities. In 2024 alone, the number of accredited properties increased from 53 to 185, and the number of developers rose from 20 to 87. This year, the opportunity to purchase apartments at the construction stage has emerged in Mykolaiv, Poltava, Dnipropetrovsk, Cherkasy, Chernihiv, Odesa, and Rivne regions. Four regions remain to be covered – Zakarpattia, Zhytomyr, Kirovohrad, and Chernivtsi – after which properties under construction will be available for purchase throughout Ukraine.
There are regions where the share of ready housing from developers is already high – for example, in Ivano-Frankivsk and Ternopil, where its proportion is nearly equal to that of secondary housing.
"Every week we hold one or two meetings in the regions with developers. We meet at the regional administration or community level, inviting banks as well, to inform developers about the benefits of partnership. Currently, the program has accredited 87 developers with 185 properties, aiming to attract at least 300-400 developers," Metzger shared regarding the ongoing efforts.
A broader selection of housing at the construction stage will provide Ukrainians with a wider range of options and encourage more active purchases of such properties. The main advantage of newly constructed housing is a higher level of energy efficiency and the requirement for bomb shelters, he explained.
Metzger also mentioned that among the directions for expanding the program, a concept for rent-to-own has been developed.
Since the launch of the state program for accessible mortgage lending "eOselya," as of October 24, 2024, 13,674 families have acquired their own housing for more than 22 billion UAH, according to data from the "Ukrainian Financial Housing Company" ("Ukrfinzhytlo").
The "eOselya" affordable mortgage lending program has been operational in Ukraine since October 2022. Military personnel under contract with the Armed Forces of Ukraine, security and defense sector workers, medical staff, educators, and researchers can apply for a preferential mortgage at a 3% annual interest rate for up to 20 years with a down payment starting from 20% of the property value.
As of August 1, 2023, war veterans, combatants, internally displaced persons (IDPs), and citizens without housing exceeding the normative area can apply for participation in the "eOselya" program at a 7% interest rate.
Under the program's conditions, preferential categories of participants and IDPs can purchase housing in a building under construction and buildings no older than 10 years (in the capital and regional centers), while other participants can buy in a building no older than three years or in a construction project.
The program involves 10 partner banks: state-owned Oschadbank, PrivatBank, Ukrgasbank, Sens Bank, as well as MTB Bank, Tascombank, Globus Bank, Sky Bank, Credit Dnipro Bank, and BISBANK.