Lowering the accreditation threshold for houses under construction to 30% for participation in the state program eOselia may stimulate demand in the primary housing market, believes Alliance Novobud CMO Iryna Mikhalyova.

"In the total number of requests to sales departments, the share of those wishing to take advantage of the program is about 60-65%. Some 30-35% reach the conclusion of the transaction. I will probably voice the opinion of all developers: it would be good if banking institutions lowered the accreditation threshold for houses at the construction stage to at least 30% of readiness. Now this threshold is 50-60%," she told the Interfax-Ukraine agency.

The expert positively assessed the previously introduced reduction to 10% of the first payment for young people, noting that a large number of requests come from young people, in particular military personnel. In addition, an increase in mortgage rates after the first 10 years of the contract will encourage buyers to repay the loan faster, she said.

An additional incentive for buying housing on the primary market could be an increase in the requirement for the age of buildings available for lending under eOselia to preferential categories of borrowers, from 10 to three years, said Hanna Layevska, Commercial Director of Intergal-Bud.

"If the age limit for houses available for purchase using a preferential credit resource is reduced from 10 to three years, this will force a significant portion of buyers to switch to offers from developers. In conditions where the property rights to housing are less than three years old, additional taxation of the transaction arises. Now it is 7.5%, after the increase in the military tax - 11%. That is, buying housing on the secondary market from an individual will not be profitable," the expert explained.

Today, buyers face a complex organizational process when applying for a mortgage, Layevska noted. The application approval period is quite long, which is why there is a risk of an increase in the price of the property on the primary market, and not all sellers are ready to wait on the secondary market. In addition, the declared down payment may increase significantly.

An increase in the number of partner banks under the eOselia program would also have a positive effect on market activity, Layevska believes.

On the other hand, a potential reduction in the age of houses for all categories of borrowers under the eOselia program for purchasing housing with a mortgage will significantly limit the supply for program participants, says Oleksiy Koval, head of projects at Perfect Group.

"Reducing the requirement for the age of the building from three to 10 years will be a significant stimulus for demand growth. In 2025, this will mean the inclusion of housing built and commissioned in the pre-war 2021 and earlier - when the pace of new construction was the highest," the expert noted.

According to him, today the impact of the eOselia program on the primary housing market is still barely noticeable - buyers prefer finished housing. Other changes to the terms of the program could stimulate the market: an increase in the maximum mortgage term, a reduction in the down payment for all categories of participants, and a change in the limits on the area of housing.

"These changes would make housing affordable for a wider range of citizens," Koval said.

Despite the growing popularity of the preferential mortgage program, internal installment programs from developers with more flexible terms are also in demand, said Darya Bedia, Marketing Director of the DIM group of companies. The main problem with government programs remains their timely financing.

"The main issue remains financing, or rather the volume and speed of allocation of funds for government programs. If financing is carried out in full, then according to our estimates, the share of mortgage sales in the primary market will grow to 40-45%. Today, out of 30% of requests to our offices about the eOselia program, only about 10% go to real transactions," she explained.

Meanwhile, the number of contracts for the purchase of housing using a certificate under the eRecovery program is still insignificant, according to the capital's developers surveyed by the agency.