This was emphasized by Ievgen Metsger, Chairman of Management Board at UFHC, during the IV Ukrainian Construction Congress. The event brought together key stakeholders of the real estate market – investors, developers, government officials, architects, designers and planners.
The Congress served as a platform for an open dialogue between business, banks and the government on new solutions for the construction industry in the context of a full-scale war. Participants also discussed the challenges of monitoring the intended use of housing, stimulating own co-financing programs among developers, as well as the prospects for banks to actively issue commercial mortgages.
UFHC was represented at the event by Ievgen Metsger, Chairman of Management Board, and Alla Dubrovyk-Rokhova, Head of Communications and Partner of PGR Consulting Group LLC.
“We are taking it step by step. We study international experience, analyze the ups and downs in the mortgage markets of different countries. In Ukraine, banks have almost stopped issuing their own mortgages, and it was at this point that yeOselia became a key tool. Thanks to our digital solution, we helped banks not to lose their skills in analyzing and issuing mortgages. However, our strategic goal is to support people serving the state who do not have their own homes. We will help banks withstand wartime, maintain their mortgage lending skills, and when the rates start to decline, yeOselia will focus on specific categories of people and encourage the banking system to issue mortgages using its own resources without government assistance,” stated Ievgen Metsger.
At the same time, Alla Dubrovyk-Rokhova, Head of Communications at UFHC, emphasized the importance of providing Ukrainians with financial instruments for purchasing housing during the panel discussion “Affordable Housing: How to Make Real Estate Affordable for Ukrainians.”
“Owning a home is an archetype of a Ukrainian. It is not only a roof over your head, but also security, stability, the ability to have children and leave a home for your descendants. yeOselia today gives Ukrainians a chance not only to dream of owning their own home, but also to actually get it. As of today, UFHC and the yeOselia program provide 98% of the mortgage market in Ukraine. However, this should not be the norm – there should be mechanisms to involve banks and the market to make mortgages available to a wide range of citizens, as mortgages are the driver of the real estate market in most European countries,” underlined Alla Dubrovyk-Rokhova.
She noted that the yeOselia program has also become a marketing tool for developers, as accreditation of residential projects at the construction stage in the state program increases buyer confidence even outside the program itself. This helps to develop the construction market and, consequently, the country’s economy even in the context of a full-scale war.
