Getting Better All the Time: The Registration System for Title to Real Estate in Ukraine Is Going Through Reform Aimed at Improving Efficiency
Real estate has always been one of the most attractive investments, and Ukraine is no exception. The domestic property market in this European emerging nation is heavily under-developed in all the sectors — office, retail, industrial, hotel and residential. The main driver behind the skyrocketing of prices before the crisis of 2008 was the lack of quality properties, and on some measures the Ukrainian market was one of the most expensive in Europe.
But the turmoil will pass, and investors and developers will come back to seek appropriate investment opportunities. The core legal issues relating to real estate, which continue to be outstanding, are the registration of rights to real estate and the legal safeguards of title. Major foreign investors have an increasing interest in Ukraine, and the country’s current system of registration of rights to real estate has come into sharp focus.
The lack of a unified real estate register