Renting a home in Mykolaiv is almost half the cost of payments under the «eOselia» scheme, according to analysts

Houses in Mykolaiv. Illustrative photo: NikVesti

Mykolaiv has been included in the list of frontline cities where it is currently more cost-effective to rent accommodation than to buy it under the state’s «eOselia» programme.

These are the conclusions reached by analysts at «OLX Real Estate», who compared the median rent for one-bedroom flats with monthly mortgage payments under the scheme, reports ‘NikVesti’.

In particular, in Mykolaiv, the average rent for a one-bedroom flat is over six thousand hryvnias per month, whilst the estimated payment under «eOselia» amounts to over 11 thousand hryvnias.

A similar situation is observed in other cities close to the combat zone. In Kharkiv, rent costs around 6,500 hryvnias a month, compared to a payment of over 10,000 hryvnias under the scheme; in Sumy, it is 6,800 hryvnias versus 11,500 hryvnias; and in Chernihiv — 7,500 hryvnias versus 13,000 hryvnias.

In Odesa, the difference is smaller: nearly 13,000 hryvnias for «eOselia» compared to 10,000 hryvnias for rent.

In Zaporizhzhia, renting a one-bedroom flat costs an average of 7,000 hryvnias, whilst the payment under the «eOselia» scheme is nearly 10,000 hryvnias. In Kropyvnytskyi, this figure stands at 8,000 hryvnias compared to 12,300 hryvnias respectively.

Analysts attribute this difference to security risks and lower demand for housing in frontline cities, which is keeping rental rates down.

«In most regions of Ukraine, the cost of buying a home under the ‘eOselia’ scheme is already comparable to rent or only slightly higher. In some cities, the monthly payment under the scheme is even lower than the cost of rent. Therefore, provided one has the funds for a deposit, buying a flat under ‘eOselia' may in many cases be more cost-effective in the long term than renting,» the statement reads.

At the same time, in most relatively safe regions of Ukraine, the situation is the opposite. There, monthly payments under the ‘eOselia’ scheme have already approached the cost of rent or have even fallen below it. For example, in Uzhhorod, the average rent for a one-bedroom flat is almost 22,000 hryvnias a month, whereas the payment under the scheme is around 15,700 hryvnias.

For instance, in the Lviv region, the payment under the scheme is 17,000 hryvnias compared to 19,400 hryvnias for rent; in Ivano-Frankivsk — 14,700 hryvnias compared to 17,200 hryvnias; and in Volyn — 14,000 hryvnias compared to 15,000 hryvnias.

In Kyiv, the monthly payment is 18,300 hryvnias compared to 16,000 hryvnias for rent; in Vinnytsia — over 15,000 hryvnias compared to 13,500 hryvnias; in Ternopil — 14,800 hryvnias compared to 13,000 hryvnias; in Rivne — 14,300 hryvnias compared to 12,000 hryvnias; and in Khmelnytskyi — 13,000 hryvnias compared to 11,500 hryvnias.

It should be noted that the Odesa region was among the regions where, over the past week, Ukrainians received the most mortgage loans under the state programme «eOselia».