The Verkhovna Rada Plans to Change Real Estate Legislation

The Verkhovna Rada of Ukraine is considering the government bill “On the Basic Principles of Housing Policy,” aimed at addressing a number of issues, particularly those related to the outdated housing stock.

This is reported by AgroReview

This bill has been registered in parliament under number 12377. The relevant committee has already recommended its adoption in the first reading, which opens the possibility for a swift review in the near future.

The Need for Implementing Changes

However, as noted, “due to the need for comprehensive technical, legal, and editorial refinement of the draft law and the alignment of certain provisions with other legislative norms,” several important factors must be considered before the second reading, including “proposals and amendments regarding corrections, clarifications, elimination of errors and/or contradictions.”

MP Olena Shuliak from the “Servant of the People” faction explained that the need for new legislation arose because the current housing policy system is based on the Housing Code of 1983. She emphasized the existence of numerous problems in Ukraine’s housing sector, including:

• about 600,000 people are waiting for housing “with no hope of receiving it”;
• the absence of social rental housing and a maneuverable housing stock;
• a primitive level of legislative regulation of rental housing;
• an unregulated state mortgage policy regarding assistance to internally displaced persons (IDPs).

The Difficult Situation in the Real Estate Market

Furthermore, Shuliak noted that overall, the housing stock has already lost its relevance. “These problems have been compounded by millions of IDPs and the destruction of housing due to the war. The situation has become incredibly complicated,” she concluded.