Factors and prerequisites for the financial support of housing construction in Ukraine

The development of the construction industry is quite an important component of the country’s economic growth. Construction contributes to the development of related industries, and ensures the implementation of such an important socio-economic function as providing housing to the population. Therefore, the dynamics of construction activity is one of the indicators of economic growth. The article discusses the specific characteristics of the construction industry and their influence on the formation of the capital structure of construction enterprises. It is substantiated that the structure of capital is influenced by many factors, both internal and external to the enterprise, having an objective or subjective nature. Most of them help minimize the borrowed capital of construction enterprises. The analysis of the state programs for financing the construction and acquisition of residential real estate in Ukraine revealed that in recent years funding for them has been significantly reduced or completely discontinued. The proliferation and cheapening of mortgage programs is hampered by the lack of macroeconomic and regulatory prerequisites for long-term financial planning, balancing demand and supply in the investment market, and clear regulation of relations between banks and borrowers. Changes in the level of housing provision in Ukraine involve the introduction of effective mechanisms for financing housing construction, which will take into account the interests of all the participants: the population, enterprises, credit institutions, and society as a whole. A promising alternative tool is the provision of housing in financial leasing. An additional factor in stimulating housing construction on the basis of financial leasing may be the involvement of local governments and leading enterprises of the region in these programs.