Rental housing with the right to purchase

By the end of April, the Ministry of Regional Development is expecting a new resolution in accordance with the program for renting residential real estate with the right to its subsequent redemption.

As expected by the ministry, at the end of April, we can expect the adoption of a relevant resolution regarding the program to provide Ukrainian citizens with residential real estate through rent, followed by the right to buy this housing, at 3 percent per annum.

During a regular press conference at the Ministry of Regional Development, it was reported that the Ministry of Finance planned to implement a completely new approach to providing Ukrainians with housing – a rental program with the possibility of redemption at 3 percent per annum. The Ministry assumes that this program will become quite widespread and popular in our country. Now a set of coordination works is being carried out on this project, it is likely that even before the holidays in May, this project will be signed.

But for this it is necessary to start building apartments and after that they will be bought out by the State Mortgage Institution, after which such apartments will be rented out with the possibility of subsequent purchase. The financing mechanism proposed by the Ministry is fully consistent with the scheme used by the institution.

This year it is planned to fully support the already begun process for the construction of a number of facilities, after which it will be possible to proceed directly to a more intensive construction process. Now it is being considered by the Ministry of Finance, which will be engaged in submitting this proposal for consideration directly by the Cabinet of Ministers.