In February 2026, the Ukrainian mortgage market continued to show a trend of declining lending volumes that began at the start of the year. According to a survey by the National Bank of Ukraine, in the past month, Ukrainian banks issued 701 mortgage loans totaling 1.4 billion UAH, which is less compared to previous months.
This is reported by Finway
Dynamics of Mortgage Lending and Rising Rates
Data indicates that in December 2025, mortgage lending volumes peaked at 952 loans issued for 1.92 billion UAH. By January 2026, the number of loans decreased to 718 for a total of 1.5 billion UAH, and in February, the volumes dropped by another 100 million UAH. This indicates a gradual slowdown in the mortgage lending market in Ukraine.
Alongside the decrease in the number of loans issued, there is a rise in the average effective interest rates. In the primary market, 386 mortgage loans were issued in February for 767 million UAH, of which 152 were secured by property rights for future apartments. The average effective interest rate increased to 8.25% per annum (8.15% in January, 8.11% in December). In the secondary market, 315 transactions were completed for 628 million UAH, with the rate rising to 9.46% (8.97% in January, 8.66% in December).
“At the same time, the NBU notes the high quality of the banks’ mortgage portfolio, with a non-performing loans (NPL) ratio of 13%, which has remained stable for three consecutive months.”
Regional Features of the Mortgage Market
Regionally, the capital region traditionally leads in mortgage lending. Kyiv Oblast accounted for 34% of the total volume of issued mortgages – 225 contracts totaling 473 million UAH. In the city of Kyiv itself, 145 contracts were signed for 319 million UAH. The top five most active regions in terms of mortgage lending also included Lviv Oblast (46 contracts for 95 million UAH), Volyn (36 contracts for 59 million UAH), and Vinnytsia Oblast (29 contracts for 54 million UAH).
Experts note that despite the decrease in lending volumes, Ukrainians continue to prefer purchasing housing in the primary market, although servicing such loans is becoming more expensive.