Ukrainian Lawmaker Proposes 3% Mortgage Program for One Million Families.

Affordable Housing Initiative Launched

According to Novyny.live: Danylo Hetmantsev, Chairman of the Verkhovna Rada Committee on Finance, Tax and Customs Policy, has initiated a new affordable housing program. This initiative offers long-term mortgage subsidies for vulnerable social groups, including teachers, medical workers, military personnel, internally displaced persons, and citizens who have lost their homes due to the war. The program is a direct response to the severe housing crisis exacerbated by the ongoing conflict.

The program will provide mortgages in the national currency, the hryvnia, at a fixed annual rate of 3% for a minimum term of 25 years. Crucially, the monthly payment must not exceed 20-25% of a family's total income or the average regional rent plus a 10-15% surcharge. This structure is designed to make home ownership genuinely attainable for those in greatest need.

Addressing a Deepening Social Crisis

Even before the full-scale invasion, Ukraine faced a significant housing shortage, with approximately 350,000 families living in communal apartments and another 750,000 renting. The war has dramatically worsened this situation due to the displacement of over 4 million people internally. The total cost of damaged housing in the country is estimated at nearly $57 billion. Hetmantsev's project is designed to assist at least one million Ukrainian families and could involve over a trillion hryvnia in funding.

'I am convinced that such long-term loans will not only solve issues of social security for our fellow citizens and give them affordable housing, but will also provide a significant boost to the development of the construction industry.' Danylo Hetmantsev

Therefore, the introduced program aims not only to improve living conditions for Ukrainians but also to stimulate the country's economic development.

The proposed program represents a critical step in tackling Ukraine's acute housing problems, which have been intensified by war and mass migration. Providing accessible housing for vulnerable groups will help stabilize the social situation and improve the quality of life for thousands of families. Simultaneously, by stimulating the construction sector and creating jobs, the initiative could become a vital driver for broader economic recovery.