INSTITUTIONAL AND REGULATORY FRAMEWORK FOR HOUSING CONSTRUCTION FINANCING: NATIONAL AND REGIONAL DIMENSIONS

Abstract

The article examines the institutional structure and regulatory framework in Ukraine that governs the financing of housing construction at both the national and regional levels. Particular attention is paid to analyzing the system of management actors, including central executive authorities, local self-government bodies, financial and credit institutions, as well as partner entities operating within the framework of public-private partnerships. Based on the conducted analysis, the study substantiates the lack of coherence and systemic integration in the regulatory mechanisms of state housing policy. The author identifies key factors contributing to institutional and regulatory gaps, as well as structural imbalances within the legislative framework underlying the current housing policy model. The regulatory role of the state in investment activity is explored in the context of broader economic transformation objectives. The analysis covers the current legislative and regulatory base, particularly the Laws of Ukraine “On Regulation of Urban Development,” “On Local Self-Government,” as well as the Budget and Tax Codes. It highlights the absence of a unified approach to the coordination and monitoring of financial flows in the housing sector. Furthermore, the study underscores the need to institutionalize a single coordinating body capable of ensuring transparency in project implementation involving public and private stakeholders. The potential of digital tools and monitoring systems is emphasized as a mechanism for enhancing the accountability of regional housing policies. The necessity of modernizing the governance model in the construction sector is also addressed, particularly through the implementation of principles of results-oriented public management. The paper proposes improving the regulatory model in several directions: developing an integrated electronic system for monitoring housing construction projects, designing long-term regional programs with clearly defined financial indicators, enhancing legislation regarding community participation in project-based financing, and strengthening the role of institutional arbitration in the distribution of public investments. The study concludes that the implementation of advanced legal developments in the housing construction sector represents an effective instrument for stimulating economic activity, generating employment, and enhancing social security. Consequently, a harmonized legal and regulatory framework for housing construction can serve as a catalyst for sustainable development in the context of post-war reconstruction. The findings offer practical value for government institutions, local authorities, financial entities, and international partners involved in shaping Ukraine’s post-war investment strategy and spatial development.