Draft law prepared
Ministry of Economic Development and Trade of Ukraine prepared a draft Law of Ukraine «On specifics of real estate activities», setting out the legal framework for real estate activities in Ukraine, the basic rules of state regulation of this activity, the Ministry’s press service informs.
As Ihor Sheverdin, Head of Department for State Regulatory Policy and Entrepreneurship Development Ministry of Economic Development noted, the European experience shows that real estate brokerage is strictly regulated. Realtor services are subject to licensing, consumer of these services is protected from receiving poor service at the legislative level, realtors receive legally fixed fees subject to public oversight.
«Ukraine is in sore need of adopting a specialized law on real estate activities. This document will define legal, economic and organizational principles in this area, being prepared on the basis of advanced international practices. Adoption of the law will allow to oblige professional participants of the real estate market to protect rights and legitimate interests of consumers of real estate services more reliably», the statement reads.
