Property lease

For the last years, an active growth of property construction volumes can be noticed in Ukraine. According to the data provided by the State Statistics, the index of residential construction increased by 16.3 % in 2017: circa 10.2 million sq.m. or 125 thousand of apartments were built. Property is actively built, but not so actively sold. The insufficient customer demand is caused by a difficult economic situation in the country and lack of real mortgage lending from banks. On paper, such a product as mortgage is at the market, but its conditions are so because of the lack of long-term bank resources (impossibility of lending for a term longer than 10 years) that we cannot even speak of a large-scale mortgage lending.

In the situation when supply is higher than demand at the real property market, when there is no reasonable mortgage lending, such an instrument as financial lease became an alternative. In June 2018, TEKOM-Lease Ltd. with the Construction Company “Budova” designed and implemented a joint program for individuals to purchase the property on lease. 3 apartments in the Residential Complex “Mykhailivskyi Gorodok” located in the historical district of Odessa in close vicinity to the downtown were constructed just for 2 months of the partnership program.