BRDO has developed a draft law that will stop new apartment scams



Buying apartments in new buildings is like a lottery. Will this building be finished or will you lose your money? Today we are one step closer to a calm sleep. The Verkhovna Rada Committee on Construction supported the inclusion of the draft law “On Protection of Property Rights of Construction Investors” on the agenda. The document was developed jointly by experts of the BRDO, the Ministry of Economic Development, the Ministry of Justice, the Secretariat of the Verkhovna Rada Committee on Construction with the involvement of market and banking sector experts.

When presenting the draft law in the committee, the BRDO Head Oleksiy Honcharuk noted that in Ukraine, there are more than 200 thousand scammed families who have invested money, but haven’t receive any housing. In Ukraine, 20% of contracts show violation and fictitious features: multiple resale of the same apartment, non-compliance with design documents by real estate developers, lack of ownership rights for future apartments. The adoption of the draft law “On Protection of Property Rights of Construction Investors” will protect Ukrainians and stop fraudulent schemes. The draft law will resolve the issue of the creation and protection of rights to real estate under construction and allow banks to provide cheaper loans for the construction of real estate. As a result, real estate will be cheaper and it will be safe to invest.

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