Housing Finance Policy

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    A. Legal and Regulatory Framework

    A.1 Legal and Regulatory Framework
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    Basis of the legal system: Civil, Common, Islamic, Other? (Describe)Civil Law System; Judicial Review of Legislative Acts Civil Law System; Judicial Review of Legislative ActsCivil Law System; Judicial Review of Legislative Acts A.1.1
    Are there specific laws that deal with mortgages? YesYesYesA.1.2
    Registration/Transfer of titles:A.1.3
    Does the law clearly define different types of property rights?YesYesYesA.1.3.1
    Typical number of days needed for the transfer of title274545
    WDI
    		A.1.3.4
    Is there specialized legislation covering:A.1.9
    B. Housing Finance Subsidies
    B.1 Subsidies to Housing Finance Institutions
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    Are there subsidized funding sources for mortgage lenders?YesYesYesB.1.1
    Is the lending side of the housing finance system subsidized?YesYesYesB.1.2
    B.2 Subsidies to Households
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    Are there subsidies to households on housing finance?YesYesYesB.2.1
    Interest rate subsidies by special government fundsYesYesYesB.2.1.1
    Buy-down of monthly/interest paymentsYesYesYesB.2.1.2
    Reach of subsidies in 2.1.1 to 2.1.4 ?B.2.2
    C. Taxation
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    What taxes apply to Residential Real Estate?C.1
    Tax on property (home-owners) Yes  C.1.1
    Property transaction taxes (purchase/selling)YesYes 
    Deloitte Ukraine Highlights
    		C.1.2
    Mortgage transaction taxesYesYes 
    Deloitte Ukraine Highlights
    		C.1.3
    Tax on mortgage interest pmtsYesYes 
    Deloitte Ukraine Highlights
    		C.1.4
    Tax on capital gains on property YesYes C.1.5
    Are there tax benefits on rental properties?YesYes 
    Deloitte Ukraine Highlights
    		C.2
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    Notes:
    Notes:
    Notes:
    Notes: An individual must pay real property tax is any of the following conditions is met: (1) the area of their apartment is larger than 60 square meters; (2) the area of their dwelling house is larger than 120 square meters; (3) the total area of of one's properties exceeds 180 square meters. The tax is levied at a rate of 2% of the minimum per square meter. Land tax is also levied at a rate that ranges from 1-5%, dependent on whether the land is agricultural and whether it has a normative monetary value  
    Notes: An individual must pay real property tax is any of the following conditions is met: (1) the area of their apartment is larger than 60 square meters; (2) the area of their dwelling house is larger than 120 square meters; (3) the total area of of one's properties exceeds 180 square meters. The tax is levied at a rate of 2% of the minimum per square meter. Land tax is also levied at a rate that ranges from 1-5%, dependent on whether the land is agricultural and whether it has a normative monetary value
    Notes: Capital gains tax, at a rate of 5%, applies only if one sells more than one home during the year, provided that the owner holds the title to the property for at least three years before the sale.
    Notes: Capital gains tax, at a rate of 5%, applies only if one sells more than one home during the year, provided that the owner holds the title to the property for at least three years before the sale.
    Notes: Drastic change due to the Ukrainian crisis that started on November 21, 2013.
    Notes: Drastic drop due to the Ukrainian crisis that started on November 21, 2013.
    Notes: Drastic drop due to the Ukrainian crisis that started on November 21, 2013.
    Notes: Last reported rate is from 2015.
    Notes: Last reported rate is from 2015.
    Notes: Liquidity facility: State Mortgage Institution
    Notes: Liquidity facility: State Mortgage Institution 
    Notes: Liquidity facility: State Mortgage Institution 
    Notes: Liquidity facility: State Mortgage Institution 
    Notes: Liquidity facility: State Mortgage Institution 
    Notes: Liquidity facility: State Mortgage Institution 
    Notes: Liquidity facility: State Mortgage Institution 
    Notes: Liquidity facility: State Mortgage Institution 
    Notes: Liquidity facility: State Mortgage Institution 
    Notes: Liquidity facility: State Mortgage Institution 
    Notes: Liquidity facility: State Mortgage Institution 
    Notes: Liquidity facility: State Mortgage Institution 
    Notes: Liquidity facility: State Mortgage Institution, established in 2004
    Notes: Loans granted by deposit-taking corporations to households for home purchase
    Notes: Loans granted by deposit-taking corporations to households for home purchase
    Notes: Loans granted by deposit-taking corporations to households for home purchase
    Notes: Loans granted by deposit-taking corporations to households for home purchase
    Notes: Loans granted by deposit-taking corporations to households for home purchase
    Notes: Loans granted by deposit-taking corporations to households for home purchase
    Notes: Loans granted by deposit-taking corporations to households for home purchase
    Notes: Loans granted by deposit-taking corporations to households for home purchase
    Notes: Loans granted by deposit-taking corporations to households for home purchase  
    Notes: Loans granted by deposit-taking corporations to households for home purchase  
    Notes: Loans granted by deposit-taking corporations to households for home purchase  
    Notes: Many banks decreased financing horizons because they could not get access to more long-term capital to finance new mortgages.
    Notes: Net Domestic Credit
    Notes: Net Domestic Credit
    Notes: Net Domestic Credit
    Notes: Net Domestic Credit
    Notes: Net Domestic Credit
    Notes: Net Domestic Credit
    Notes: Net Domestic Credit
    Notes: On top of a lower interest rate for mortgage loans, the government also pays a portion of the interest payment (13% of the 16% rate) and the households that participate in this program are responsible for the remaining 3% a month (started in 2012)
    Notes: Only reported as % of gross loans.
    Notes: Private companies such as CMHC or Genworth
    Notes: Private companies such as CMHC or Genworth
    Notes: Private companies such as CMHC or Genworth 
    Notes: Tax deductions are available for mortgage interest if real estate is located in the Ukraine.
    Notes: Tax deductions are available for mortgage interest if real estate is located in the Ukraine.
    Notes: Tax deductions are available for mortgage interest if real estate is located in the Ukraine.  
    Notes: The actual value is 10155.04%
    Notes: The actual value is 110%
    Notes: The actual value is 240%
    Notes: The actual value is 252%
    Notes: The State Mortgage Insitution was created in 2004 by the Ukrainian government. Funding provided through government.
    Notes: The State Mortgage Institution (SMI) was created in 2004 by the Ukrainian government
    Notes: The State Mortgage Institution (SMI) was created in 2004 by the Ukrainian government 
    Notes: The value is 122.70%
    Notes: The value is 148.63%
    Notes: The value is 184.25%
    Notes: The value is 208.63%
    Notes: The value is 250.28%
    Notes: Ukraine has multiple government programs that target different segments of the population through subsidized interest rates. "Own House" supports individual housing construction in rural areas, "State housing program for Youth" helps young families with lower interest rates on mortgages. (started in 2002)
    Notes: Ukrainian crisis that started on November 21, 2013 caused inflation.