Ukraine is developing a state program of rental housing with the right to buy, which may be launched through the Ukrainian Financial Housing Company (Ukrfinzhytlo). This was reported by Interfax-Ukraine.
The rent-to-own format is quite popular, particularly in European countries. Ukrfinzhytlo experts are now studying their experience.
This format assumes that a person first rents the selected housing for a limited period of time along with paying rent, accumulates funds to pay the down payment, and then the transaction turns into a regular loan.
"We are not yet ready to announce details on rates, terms and participants. You will hear more specifics after all the stages of discussion with government representatives," Ukrfinzhytlo said.
The draft law of Ukraine "On the Basic Principles of Housing Policy" provides for mechanisms for social housing, social housing with the right to buy, and service housing.
It is assumed that the payment rate will be lower than the market rate, and all rental revenues will be directed to a revolving fund from which new housing will be built.
