ANALYSIS OF MORTGAGE LENDING IN UKRAINE
Abstract
The mortgage market plays an important role in the functioning of our economy, as it is closely linked to the financial, currency and investment markets and can have both positive and negative effects on it. Stable development of the mortgage lending market will allow to actively form investment processes, create conditions for the development of economic sectors, increase the country's GDP, provide housing for the population, thereby positively affecting employment. This article is devoted to the analysis of the modern country of residential real estate lending in Ukraine and the provision of practical recommendations for improving the development of the mortgage lending system. The following methods were used during the study: logical generalization, financial, economic and statistical analysis, comparison, summary, etc. The article considers the essence of the concept of «mortgage» and identifies the principles on which the relationship between all participants in the mortgage market. The study examined the factors that have a direct impact on the state of housing lending in Ukraine. The level of purchasing activity of the population during 2017-2019 and during the first quarter of 2020 was analyzed. The dynamics of price indices in the primary and secondary housing market during 2016-2020 was considered. The average annual interest rates for housing in Europe were compared with the average annual interest rate in Ukraine. An analysis of lending conditions in the secondary housing market was conducted on the basis of data from Ukrainian banks as of the end of 2020 and focused on their strengths and weaknesses. The number of issued mortgage loans in the third quarter of 2019-2020 was compared. The volumes of loans granted to households during 2016-2020 were analyzed. The levels of development that the mortgage system can acquire on the basis of the ratio of the total mortgage portfolio to the country's GDP indicator were determined. The restraining factors of the mortgage market development in Ukraine and the main tasks of the state to support the mortgage lending system were identified. Based on the obtained results, the directions of improvement of bank housing lending in Ukraine were proposed, which will allow to establish high-quality competition in the mortgage market.
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