12.03.2009

Real estate investment in Ukraine

In the opinion of Timur Bondaryev, the Senior Partner of Arzinger, there are a number of obstacles for foreign investors working in real estate and they are connected with the imperfections of the Ukrainian legal system.
 
In his report “Real Estate Investments in Ukraine” at the seminar “International Real Estate Transactions”, which was held in Vienna, Mr. Bondaryev analyzed Ukrainian legislation in the real estate and construction spheres and suggested practical solutions for minimizing these existing risks. Among the main problems in real estate investments are the following: the absence of a transparent procedure for the acquisition and development of land plots, restrictions in land ownership for foreign capital, the lack of a uniform transparent real estate register, and a clear regulation of the legal relationships in questions of state and communal property.