Mortgage lending in July increased by 23% to UAH 1.6 billion

In July, Ukrainian banks issued 871 mortgage loans for a total amount of UAH 1.6 billion, which is 23% more than in June (UAH 1.3 billion).

This is evidenced by the data of the monthly Survey of Banks on Mortgage Lending, the Ukrainian News agency reports.

Briefly about the survey results:

- 508 loans for the amount of UAH 961.5 million were provided in the primary real estate market, of which 143 for UAH 275.6 million were provided under the collateral of property rights to future real estate;

- 363 loans for UAH 646.7 million were provided in the secondary real estate market;

- the average weighted effective rate was 8.05% per annum in the primary market and 9.15% in the secondary market;

- the quality of the mortgage portfolio is good: the share of non-performing loans remains at 15%.

In terms of regions, the largest number of mortgage loans in July was issued:

- in the Kyiv Region (326 contracts for a total amount of UAH 623.2 million, or 38.8% of the total);

- in Kyiv city (128 contracts for UAH 277.8 million);

- in the Lviv Region (62 contracts for UAH 124.3 million);

- in the Vinnytsia Region (48 contracts for UAH 82.3 million);

- in the Ivano-Frankivsk Region (46 contracts for UAH 76.1 million).

During the survey, 39 banks with a share of over 95% of the total gross mortgage portfolio responded, of which 13 banks reported issuing new mortgage loans.

As the Ukrainian News agency earlier reported, the Financial Stability Board approved the Strategy for the Development of Mortgage Lending, aimed at developing market mechanisms in this market segment in order to increase housing affordability.

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