The «єОселя» program has significantly expanded Ukrainians’ opportunities to purchase housing, but the issue of affordable financing for residential construction itself remains unresolved. While buyers can obtain mortgages at annual interest rates of 3–7%, developers generally have to borrow at much higher rates — around 18–20%. Olena Ryzhova, Commercial Director at Intergal-Bud, discussed this issue in her column for Novyny.LIVE.
According to her, more than 96% of new mortgages in Ukraine are currently issued under the «єОселя» program, while there is effectively no systemic mechanism for affordable project financing in residential construction. Buyer behavior has also changed: because of the war, people increasingly prefer completed or nearly completed housing instead of financing projects at an early stage of construction.
The situation is clearly reflected in Intergal-Bud’s own sales figures. In the first half of 2026, around 29% of the company’s transactions were made through «єОселя», while another 47% were completed under the company’s own installment programs. This means that 76% of buyers pay for their homes in installments, leaving the developer to carry a significant share of the financial burden.
Olena Ryzhova proposes considering a mechanism for compensating part of the interest rate on loans provided to developers. Under such a model, a bank would provide project financing at the market rate, while the state would compensate part of the interest, provided that the developer meets specific requirements regarding the share of apartments available under «єОселя», construction deadlines, safety, energy independence, and the targeted use of funds.
Read more about why Ukraine needs affordable mechanisms for financing residential construction and how interest-rate compensation for developers could work in Olena Ryzhova’s column on Novyny.LIVE.
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