New housing loans will be issued only in national currency

26.08.2010 09:44
Articles about real estate | New housing loans will be issued only in national currency
New loans for home purchase, most likely, will only be issued in national currency.

This is reported by experts. Also, they said, the construction in 2010, remains the only industry in the GDP of Ukraine, which continues to fall.

Related article: Mortgages will become available when the rate drops to 9-11%

"Fortunately, the best of times the share of the construction sector accounted for only 4% of GDP (currently down to about 2%). There is little on order, especially from non-residential construction, while the government significantly reduced in the budget for 2009-2010. In addition, small amounts of new loans are unable to support the growth of investments ", - said analyst Marian Zablotskyj.

He noted that the residential construction sector shows some growth, which is based mainly on the completion of old projects.

"During 2009-10. - Periods of "freezing" lending of households - the number of unfinished construction projects fell by 10%. By the end of 2010, likely will experience the old stagnant construction as well as the resumption of mass mortgage lending to individuals is not expected any time soon, at least until the second half of 2011 is now 84% of mortgages issued to individuals are denominated in foreign currency but in future this ratio will change in the direction of the hryvnia, as new loans for home purchase, most likely, will be issued only in the national currency ", - predicts Marian Zablotskyj.
Content tags: Mortgages Housing
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