The Ukrainian market for mortgage loans has been continuing to decline from the beginning of 2010. Since then national banks portfolios have reduced by 3.5 percent to 3.6 billions grivnas. In the first quote of this year, credits volume, guaranteed by real estates reduced to 3.64 billion grivnas, the national Ukrainian Mortgage Association (UMA) reported yesterday. Throughout last year credit volume reduced by 3.8 percent.
“During the pre-crisis years real estate markets were overheated due to very trite reason like greediness”, UMA chairman of board Igor Yushko said to Kommersant-Ukraine daily.