Some 647 credits worth UAH 155 m issued under mortgage cheapening program, says ministry

Some 647 credits worth over UAH 155 million have been issued under the program on cheapening the cost of mortgage credits and the provision of apartments to citizens who require the improvement of their living conditions since early 2013, reads a posting on the Web site of the Regional Development, Construction, Housing and Utilities Economy Ministry of Ukraine.

The ministry said that the largest number of credits under the program was issued in Kyiv city (76), Vinnytsia region (74), Sumy region (61) and Kyiv region (45).

The ministry reminded that public joint-stock company Ukrgasbank, Oschadbank and Ukreximbank are participating in the program.

In addition, under the program on the affordable housing construction (30% of the apartment cost is paid by the state and 70% by the public) state aid worth UAH 21.2 million was granted to 198 families in January-June 2013, and the agreements for 2012 were financed by UAH 441,957.

As reported, the national budget for 2013 foresees UAH 300 million for funding the program for subsidizing mortgage loans to provide people who need better living conditions with affordable housing, which is 3.3 times down on the UAH 1 billon foreseen for 2012. Some UAH 89.5 million is foreseen in the national budget for 2013 for the realization of the affordable housing program.

The State Statistics Service has reported that the number of families and single citizens in Ukraine in line to obtain apartments came to 1.022 million as of late 2012, which was 5.7% or 62,000 down year-over-year. The largest number of families and single citizens in Ukraine in line to obtain apartments are residents of dormitories (158,200 or 15.5%) and young families (102,700 or 10.1%).