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Volume of mortgage lending in Ukraine triples to UAH 5.2 bln in eight months – NBU
KYIV. Oct 13 (Interfax-Ukraine) – Ukrainian banks in January-August 2021 issued 6,570 mortgage loans worth over UAH 5.2 billion, which is 2.2 times higher than the figure for eight months of 2020 in terms of the number of such loans and 2.9 times – by volume, the National Bank of Ukraine (NBU) reported following a monthly survey of Banks.
According to it, in August, 944 mortgage loans were issued for UAH 830.1 million, compared with 531 loans for UAH 358.1 million a month earlier.
The press service noted that the mortgage lending market remains concentrated: the five most active banks have concluded 89% of new transactions.
It is indicated that loans for the purchase of housing in the secondary real estate market remain the main driver of the market: in August, their share exceeded 90% of all mortgage loans provided both in terms of the number of contracts and in terms of monetary volume, the press release notes.
The results of the survey indicate that the average size of a loan for the purchase of housing in August increased to UAH 879,300 from UAH 793,800.
According to the NBU, in August the average effective rate of a mortgage loan in the secondary market rose to 13.60% compared to 13.35% in July, and in the primary market fell to 15.9% from 16.82%.