Ukraine’s state affordable mortgage program “yeOselia” has exceeded UAH 45 billion in issued loans, with more than 25,600 mortgages provided since the program’s launch. During more than three years of full-scale war, the program has become the dominant driver of Ukraine’s mortgage market, accounting for around 97% of all new mortgage lending in the country.
For Ukraine this is the beginning of a broader transformation of the housing finance system. With more than 3 million households affected by the war, demand for affordable housing will remain structurally high for years to come, making large-scale mortgage financing one of the key priorities for economic recovery and reconstruction.
According to Ievgen Metsger, the Chairman of the Board of the Ukrainian Financial Housing Company (UFHC), Ukraine is now moving away from fragmented housing initiatives toward a scalable and systemic model.
“Ukraine has never lacked housing programs — there were many of them. But the key problem was the absence of scale and a systemic approach. Today, we are building a model capable of operating steadily, transparently for the market and — most importantly — at a scale that matches the real needs of citizens,” said Ievgen Metsger.
A core element of this approach is the creation of a large, standardized mortgage portfolio that can become the foundation for future market-based housing finance instruments, including securitization and covered bond structures.
As the yeOselia portfolio continues to grow, Ukraine is gradually creating the institutional and financial infrastructure necessary for a modern long-term housing finance market capable of functioning both during wartime and throughout the country’s long-term recovery.
