there are many other unfinished ones, but they were not completed , then the state looked for budgetary mechanisms, these are our means of solving these problems, if we go to europe, then we need to adopt european legislation in this direction, and it is sufficient . by the way, it is strong and protects precisely in the first place and in addition if we want to have low military rates in this segment, then the lower the risk of management, the lower the initial rate for such loans will be mr. andrii, and i have a question for you, but please inform us please, what changes did the banks make during the martial law period for accrediting housing? pledge e-e let 's say a firm pledge, that is, when you buy an apartment that has already been built with dan for operation by the bank and

in accordance with the rules prescribed and regulations prescribed by the national bank e-e, it is better for the bank to take a pledge for such and such an object and issue a loan for an object that has already been built. is it the bank's fault or is it not the bank's fault? we'll figure it out now. this is a very interesting moment because there is such a thing as reservation in the banking system. the bank, the bank is obliged to reserve the so-called if , well, for the prediction of risks, and everything is spelled out very clearly and correctly in the national bank, if it is a solid object, for example, an apartment that has been put into operation, that is, it is, well, a solid object of collateral a lower percentage of the reservation if it is an apartment that will be put into operation in the future with dan. there is a much higher percentage because there are more risks , right, of course, but now again,

let's talk about how the market works in ukraine, e.g., for example, for buildings, because we how did the bankers in e-e enter the e-e plane or the realm let's say developers, what models do they use and so on, i just want to pay attention to one thing. there e list, each bank works with different developers , and the bank is interested in the fact that this object is put into operation, because the client will most likely not pay the loan if he does not even own the apartment, and even the bank will not be able to collect it later, because because if it will be a long-term building or what do we call it, you know, there are candles all over kyiv, the bank is definitely interested in this building being rented out, so that they work as developers who fulfill their obligations, of course there are various cases when, uh, there are insurmountable circumstances they allow us to hand over the house on time. hmm, there are different

documentary and other processes, but we need to select a list of certain criteria and stimulate the primary real estate market, because construction and the primary real estate market will be the driver of the economy that the representatives of the authorities and in the office of the president in the cabinet of ministers are talking about. so on and i am pleased at the last meeting, it seems. last week, i participated in the meeting of the national bank, where we already talked about the methodology of making changes to resolution 351, which will allow to predict softening of such and such conditions of course, the violation of future there, for example, defaulted loans or something, that is, in the sense that we stimulate and create for banks, e.e., we give banks a more interesting mechanism to lend, so that the share of the primary real estate market in lending changes in us, e.e., so that it grew so without a doubt, and

please repeat the question you asked me, god introduced banks for lending during martial law, see the first - of course, all without exception banks that work in ukraine me it is nice to say that the statutes went to loyal and understandable conditions for their borrowers during the period of force majeure after february 24. there was never a single case where a bank in ukraine demanded payment on a loan . for example, in the object that was destroyed, none and i am glad fellow bankers are absolutely adequate to the situation that is happening now, well, at the end of the day, we all live in our country and want it to prosper and develop, and we understand what civil society is. and what conditions exist today, for example for many loans that are in the zone or close to hostilities or, let's say, in the zone where

there is currently a lower level of economic activity, the banks there make concessions . interest, that is, non-payment of loans, restructuring of loans, vacations, vacations for example , if an entrepreneur relocates to the west of ukraine or to another place, to give him this period of time, for example, to issue an additional credit line to the client if this client really wants to move and continue his economic activity, these programs are all there, i will give only one piece of advice for clients of banks who have loans, the most important thing is to always be in contact with your bank, because in our country, unfortunately, unfortunately, there are cases when, for example , a person has a business in the ivano-frankivsk region, in the lviv region , or in ternopil region, for example, does volynsky tell the bank that there is a force majeure in the country, there is a war, i cannot pay my loans because there is a

war in the country, unfortunately, there are also abuses there is a small amount of them quantity and i do not recommend using it because in this case banks, if they understand that economic activity has been preserved in this territory and safer conditions for economic activity, banks in such a case go to court, take away the collateral and simply act more strictly, it is clear from those, for example borrowers who are in the eastern territories or close to the hostilities there, she is loyal and understands the relationship, so please use this advice, you need to pay for loans , you also need to pay her mortgage the main message is from andriy dubas, president of the association of ukrainian banks. thank you for joining our broadcast. thank you. have a nice day, andriy. well, let's add some more information, and loans under ordinary commercial programs in banks are much more expensive than in the state program, even before the full-scale war in ukraine interest rates gradually decreased, although not without the participation of the authorities.

for example, if privatbank 3 years ago had an average annual mortgage interest rate of about 19 %, now it is 12%, and it can be even lower, it all depends on the only problem with each specific bank is that not everyone wants to issue a mortgage loan during the war because of the obvious risks. well, i wanted to ask you in general when we talk about the future of this mortgage program. how do you see how much they will be affected by this program real estate prices it will depend on the volume of mortgages granted under this program and you will need to look at that volume on that volume of housing that will be realized and sold using this program if, for example, the sales volume of all developers there c- will collectively grow by 25 to 30%. of course, this

will lead to an increase in prices, but we are now in such a situation that not only mortgages or any additional financial mechanisms affect pricing, if we look at the situation on the market in general, we see that the logistics routes are broken and that the producers who were in the east of ukraine are now not they work, they are now located in the temporarily occupied territories, we had a lot of metallurgical plants there that produced metal fittings and metal products as well as the production of plastic window glass and this is all combined. if you look at it, first of all, there is a shortage of construction, so when the developers say today that we have resumed construction, according to the data there , about 60%, there in the kyiv region they have already resumed

their construction, but they resumed only those buildings, those new buildings that are already at the final stage of readiness, i.e. facade work well , it's not only internal work, that is, it 's the distribution system and the arrangement of common areas , despite the fact that it likes restoration the restart of construction after a temporary stop , of course, depends on the availability of construction materials, therefore, the mortgage is like one of those factors that will play a role in price formation in the future. discount rate therefore, it is now possible to list several indicators that will affect the real estate price increase and in order for it

to become cheaper. from some kind of taxation or payment there for the land or some other mechanisms to come up with. but it will lie in the plane of reducing the load from them oh and therefore the mortgage - this is rather a driving mechanism that is the lifeblood of business in finance buildings and developers will start building. well, let's actually talk a little more in detail about real estate prices, because an expert on the real estate market will join us right now. these are the most expensive. however, there is no demand. at the beginning of the war, even in large cities, the real estate market is in stagnation due to worries about the dollar exchange rate and rising prices of building materials, prices for apartments should rise. however, citizens are not ready to pay more, willing to invest in real estate at the moment, and there is not much of it. prices on the primary market of kyiv increased in

hryvnia plus or minus by a third, but the equivalent to the dollar remained almost unchanged however, the cost may still increase." exactly by skypez connection. so, we welcome you, ms. victoria, what is our situation in the primary market, do you agree with the assessment that anya just gave? yes, of course the situation is difficult, but the ice is beginning to break little by little, it should be noted that there is actually a gradual recovery of demand, of course, it is far from the level before the war, and this is now we can talk about a 20-25% recovery of demand , depending on the e segment, the most interested in the residential comfort plus segment - this is something in between the usual economy or mass market and

business class. that is, it is an improvement of the improvement of modern housing, and it must be recognized that this demand is not immediately realized in transactions. that is, it is a demand that is shows interest in buying, but this guy communicates a lot and postpones his decision for at least 3-4 weeks. of one or two companies, on average, in kyiv we talked about 150-200 apartments before the war, so now it is easy to calculate that this volume fell by at least 10 times. well, we will say 8-10, because now it is gradually recovering and we see that the signals are not bad there is a buyer, but the buyer is still without money, a mortgage would be useful to him, but it must be admitted that hmm, the mortgage that is currently being planned to be developed and

restored is still undergoing approval and it does not apply to all categories of people who buy apartments today , so i i think that this driver will only be revealed gradually over time, and for now, the mortgage will only be such a small driving force that can lead us out of the darkness. well, how did we at the beginning, in particular, our experts, they, er, pointed out that this mortgage would be of more interest a-a hmm people on the secondary market, you can agree with this, these are new buildings that have just been put into operation, and of course the buyer will look in their direction for several reasons, first of all, it is of course the energy-efficient level of housing, this also applies to the facades of new and the level of insulation and modern window structures, etc.,

even engineering communications, the second factor that should not be forgotten is, of course, the ecosystem for life, unfortunately, not every developer thinks about the procedure, but for the buyer now, it is not the square meters that matters, even in under the conditions of a total shortage of housing in the country, and what is important to him is the standard of living that he buys. and this infrastructure is a private community, that is, a certain level of security, a certain level of well-being inside the complex, it is the usual various functions, recreational, household, service , etc. yesterday's first article will be of more interest, i think that it will still concern new buildings from yesterday as well as housing that was built after 2015, you have a reply, gentlemen, yes, let's remember what we are talking about now preferential mortgage 3-7%. and here there are categories, they are doctors, scientists of pedagogy, and we understand that these

are people who do not get a lot of wealth, they are not it experts, they are not managers, that is, when we are talking about what will come out and it is called social, yes, that is why when we now say, what is real estate will be a priority, so it is necessary to talk about the fact that, first of all, people who will apply for this mortgage will make their choice based on the price of the same housing, so the cheaper it is, the more it will be a priority and already in depends on whether the secondary market will be able to provide these prices or the primary market, and the selection will already take place here, but if i am not mistaken, in this program there are uh terms for the housing to be no older than 10 years, so true . that's why it's very important, that's why i'm doing it that's why let's actually go back to the banking sphere

, vasyl, well, we can't help but mention loans for military personnel, to what extent they will be integrated into this program, and in general, what are the benefits for obtaining loans today for them, see the benefits for loans today they they absent if we are talking about a loan that an individual wants to get, whether you are a military serviceman or an employee of trade networks of some other specialty. that is, you come to the bank, you take a loan, that is, if there is, for example, you fall under the criteria. well, for example, let's assume that the ukrainian dream program is that's the name of what we're discussing today, that is, if you fall under the criteria of this program to get a loan, yes, you can take it, then the state will really compensate you because we say about four categories of people, that is, 3% for preferential treatment. and this program is planned to start in

october. and there is another stage of the program - from january 1 of next year for other categories of citizens of ukraine and for all interest rates, but in principle it is enough, ah, well, let's say that the interest rate is so good, because really we are now apart from the war, that is which changed everything in the economy today and greatly increased from random rates to the war. it was already a trend. there was already a state affordable mortgage program that played along the role of e-e. i would very much like this program to also work. by the way, because it will also make a positive contribution to the development of lending, so commercial banks have already provided a lot of loans even without this state program of affordable mortgages before the war, i repeat once again under 9 and even less percent, that is, the available path was under 7%. therefore, but that was at a different time, and completely different loans, not rates there, different inflation , that's why we now have high inflation, that's why we have a

high accounting rate, really a lending rate today in many segments in various directions are very large, but this will not last forever, that is, it is clear that the situation will change, and therefore such a state program is needed, and it will once again have a very positive effect on everything on the economy, contributing to the development of the construction industry and our gdp and other grasses of the economy of investments, social facts about which we talked, that is, and by the way, such an effect, which educational effect must be understood, that is, people today will be digitized, that is, they will enter the information themselves, that is, come in, that is, everyone participates in their the level of digitalization and for the detailing of other segments of the economy. because in order to issue loans in an automated mode, you need an automated pull-up of all registers. attention, you are a citizen of ukraine. that is, you have to work in white. that is, you have

to receive income, er, officially, because if you conditionally do not receive income, er, then you will not be able to be even under 7%, that is, participants of that what before that, the bank should analyze your financial condition and your capacity. therefore, this is also a very important issue, because the level of the shadow economy of our country is very, very large. today , we are also talking about primary and secondary as a market, that is, the verkhovna rada is starting to adopt legislation. but once again, it needs to be brought to the end and accepted so that the rights of investors and creditors are protected, because if everything is not protected, then there will be an opposition to the territory of the non-market market, probably on the secondary market and not of the economic impact that we are talking about during this program, any state program should, when it is implemented, except for a significant social project. it should have a large economic effect on our country, because the funds in the budget, for example, are not always much affect. we want to get the maximum therefore, banks

today are ready to participate in this program, especially the state bank, if you see there at the meetings during which they accept, that is, a lot will depend on that is, we are now talking about the general things of this program, we will see when it will be officially announced. so that, if necessary, you can take part in it and follow it, we advise everyone without exception because ah now uh this program from october will work for certain categories of citizens and already as announced in the government from 2023 for all ukrainians without exception, there was a comment from mr. oleg, today we did not touch on one very important issue, if we are talking about

some benefits, it is necessary to understand that these benefits must be covered by someone, for example, let's draw an analogy with a subsidy, there are a lot of ukrainians now receive a subsidy for heating, there is a provider of heating services that supplies its service to the apartment, but if the person cannot pay for it, the state pays for the person. similarly, the situation with benefits is that banks cannot issue mortgages for 3% if the banks will issue 3%, they will burst, well , first of all, they will not be able to, because today they said that it will already be there, and the reservation of funds and everything else is so . it would be good to ask the state where these funds will be taken to cover the difference, mr. vasyl, please, well

, there, yes, the right is indeed provided. essentially reacts to the program 579 e-e, this is support for good medium-sized businesses. that is, there are three funders who took the program, the mortgage is available when the bank compensated there, well, a military exhibition is necessary, that is, according to this program, it is assumed that for preferential borrowers, and there will be compensation of 4% - this will be compensation to go to banks a this is for preferential borrowers. and what about those borrowers , well, ordinary ones who will start taking loans from 1.01 , that is, again, eh, there will go eh, the resource would be provided with financial eh, ukrainian housing at 3% to the banks, and then the banks will issue under this , that is, in this way, they will earn their same 4%. mr. vasyl, i have the following counter-question: can

ukrainian banks provide assistance to international financial institutions in the matter of renewing mortgage lending? it’s an interesting question, again, ukrainian banks receive loans there, for example, are there international financial corporations there? but you are under these or other programs. well, for example, the program for the development of small and medium-sized businesses there, that is, they are there energy saving, that is, yes, there are target programs, will there be under this program, that is, well, this is a separate question. and why the poor, that is, it is clear that we need to work out , we understand only one thing that the need for the program and for resources is very, very huge and our country needs it, therefore i very much we are for today well, we are not a gate for ourselves, you see somewhere what kind of external financial assistance we will receive thanks to our international partners, we reliably maintain the financial defense of our state, so we probably need it i think it is possible the government is also working on this issue, we just do

n’t know today because part of the funds from the serial budget have already gone there, conditionally there, and we are receiving there from the european union or from the united states, or from the international monetary fund. there is a commercial bank, that is, in principle, there can be such a mechanism involved, but you know. i just had this thought. well, if we were talking about mortgages, what are the keys to how a normal, peaceful country lives, yes , but we can't forget that we have vi- the war is also in an active phase. and if the mortgaged property is damaged or destroyed, what is the mechanism for this today, including for this affordable mortgage? well, of course, for those people who took out loans and now their property is gone. how is their relationship going today? with the banks. this is probably the question. then look at me briefly , e-e, damaged housing where there is a mortgage

. will be released from the obligation for these candidates, i would very much like this law to also provide for compensatory enemas for banks, because it is necessary to understand that, that is, to take into account all the interests of all parties, because when the bank issues a loan to an individual or a relative, he before that, i attracted funds from individuals, simple bank clerks, and it is clear that if we are solving the question of what is being written off here, it means that the bank needs some kind of resource compensation in order for us to be able to give deposits to depositors there to pay interest and so on, i would like to emphasize in advance simply that the state during the war and before martial law and e three plus guarantees today depositors of combined banks 100% of deposits

independence from the amount of the deposit a-a which is in the bank , that is, the interest of depositors today is maximally protected even there is such a figure that you understand that the balance of funds of individuals in hryvnia in the banking system of ukraine increased by more than 30% during the war. people trust the banking system sir but already you wanted to add something yes i wanted to add about such a mechanism as life insurance, when a person enters into a credit agreement, the bank forces him to insure his life, if the mortgage is granted on the auto-ownership market, then the person must insure. this housing is fire, damage, war, and all the same, other things, so insurance mechanisms should be included here. victoria, please, you also wanted to add i would also like to add an important nuance from the point of view of the buyer . look at the banks. it is clear whether the level of load on them is that they do not lend to anyone

. working banks undergo a very serious audit. as a rule, these are companies that have sufficient internal financial leverage to ensure construction with their own funds, at least the main volume of this construction, and they do not depend on the money of e-e buyers like these companies that today also mentioned the bank arkada ukrbud and so on, those who were building now account for cross-financing , that is, they started construction, they attracted the buyer's funds, they also started building for us we received a bunch of buildings , these companies will not have many it seems that after all, the first place will be in demand and will be used. the buyer is interested in credit programs, because these will be developers who actually, well, they are on time and on time, who build housing, which, after all, is of interest to

ukrainians today. well, these companies will still attract the buyer. and this program will attract the mortgage company because the banks will. well, how to verify the developer and the buyer will know that the audit has been passed. this company builds and it is reliable, this is very important. in the current conditions, because we mentioned that, well, previous speakers talked about the fact that many declared the construction, but it is nominal, in fact, which means that someone just started an audit of the sites, it should take a certain amount of time, someone just uncanned one crane and it turned a little, and all the companies that actually build there are not so many of them, so let's be objective. i think that the first stage of this program will concern a limited, limited number of pre-developers, and then let's see how our builders and developers are. i hope that there will be more others to show their responsibility in the

war is how they will actually build, providing for people who have already invested in their apartments, and if it all works out, then i think that the banks are one-time, previous speakers said that banks are ready to lend to conscientious developers and, accordingly, the buyer will have a chance to use help of the state under this program, the nuance is that this program must be rolled back, we also discussed it today, give it time, for now we are talking about the declarative nature of such certain factors, it works, it will be clear thank you. well, i think that on this note we will end our discussion today. life will show how this program will work. we are very grateful to all the participants of our dialogue. today i would like to remind you that vasyl furman, the deputy chairman of the board of the national bank of ukraine, was also oleg prykhodko, the general director of the development company. and victoria bereshchak, real estate market expert unconquered cities of ukraine dnipro,

the space capital of ukraine with the longest embankment in europe and the shortest subway, was born on the site of cossack land owners hitler's occupation, everyone shot from 17 to twenty-one thousand jews in the dnipro after the expulsion of the nazis, he remained under the attack of enemy aircraft, but he did not stop working for victory, as he does not stop, and now he is the first to meet those who are fleeing from the war, and despite everything, he reliably holds the rear of the dnipro people simply co