In March 2025, the Ukrainian mortgage market demonstrated noticeable activity. According to the monthly survey of the National Bank of Ukraine, 13 banks provided housing loans to the population for a total amount of UAH 795 million. The largest number of mortgage agreements was issued in the Kyiv region, which traditionally maintains leadership in this market.

In the lending structure, the bulk of transactions were made on the primary real estate market - 232 loans for the amount of UAH 437 million. Of these, 87 loans for UAH 168 million were provided as collateral for property rights to future housing, that is, for objects that are still under construction. This indicates a gradual restoration of confidence in developers, as well as the willingness of citizens to invest in new housing at the early stages of project implementation.

Another 195 mortgage loans totaling UAH 358 million were issued on the secondary market. The weighted average effective interest rate for primary housing was 8% per annum, while on the secondary market it was slightly higher — 9.5%. This gap in rates is partly explained by the lower risk when lending to finished real estate, but the advantage of lower rates on the primary market stimulates demand for new buildings.

It is important to note that the quality of the mortgage portfolio is improving. In the first quarter of 2025, the share of non-performing loans (NPL) decreased from 18.5% to 15%. As noted by the NBU, this was influenced not only by the growth in the volume of new loans issued, but also by the actual decrease in the total volume of problem debt. This is a positive signal, indicating a gradual stabilization of the financial sector.

Analysts emphasize that the March activity in the mortgage market was made possible by the gradual restoration of confidence in the banking system, the preservation of moderate interest rates and demand for housing, especially in regions with greater economic stability. The Kyiv region remains the most attractive for residential investments, which is confirmed by the high pace of transaction execution in this region.

In general, the situation in the mortgage market gives grounds for cautious optimism. Provided that macroeconomic stability is maintained and programs to support the banking sector continue, housing lending may remain one of the drivers of the recovery of the Ukrainian economy in the coming months.