The Ukrainian real estate market is on the verge of one of the most important stages of its development. After many years of war, destruction, migration and pent-up demand, the topic of housing for Ukraine has long gone beyond square meters. This is a question of people's trust in the future, the ability of cities to recover, the willingness of businesses to invest in long-term projects and the ability of the state to create clear rules for all market participants.

The following is the text in the original language. The debate around the new Civil Code is no less important for lawyers. There is a real concern among homebuyers, developers, banks, investors and communities about what to expect from Vidbudova.. And even inviolability is one of these areas, where legal insignificance quickly translates into a financial risk, the loss of trust and additional expenses for all market participants.

The Ukrainian primary market has historically developed in Switzerland, lower legislation. In practice, various structures were used: mining rights, forward agreements, investment agreements, agreements for participation in financial development funds and other mechanisms. Some of them allowed the market to actively grow, but for the buyer such a system often lost its coherence and never-before-sightedness.

A person who buys an apartment in the early stages of life can clearly understand what she is getting, as the right to fix such guarantees is revoked. For mature market this is the basic standard. One of the key ideas of the draft new Civil Code is the promotion of the right to access the future object of indestructibility.

To explain simply, a new apartment or non-residential premises will be subject to greater legal status even before the completion of construction. For a buyer this means greater security, for a developer to introduce more sophisticated operating rules, for banks it means more financial forecasts..

It is important that Ukraine is not to blame for visiting here as it is fundamentally new. Most countries of the European Union have long had mechanisms that allow the purchase of rights to a future facility even before the plant is put into operation. For example, in France the VEFA (Vente en l'Etat Futur d'Achevement) model is widely used - sales of life at the stage of development with legally required guarantees for the buyer. Germany and Austria have strict measures to gradually finance life and protect investors' funds. In Poland, after the reform of development legislation, special escrow systems were introduced, which naturally increased the level of protection among buyers.

It is clear that the very regions with a high level of legal importance are likely to experience the greatest disruption in the housing finance market.. According to the European Mortgage Federation, the mortgage lending volume in the EU countries exceeds 8 trillion euros. Such a scale would be impossible without reasonable rules regarding the rights of power and future objects of hearing loss..

It is important not to overstate the significance of one legal innovation. The right to acquisition is not a substitute for a clear developer, professional project management and reliable control over everyday life. However, you can make the mechanism itself more intelligent and transferable.

For reliable developers, such changes are not a threat. As a matter of fact, insight will now benefit companies that systematically invest in the market, settle their jobs, and create the history of their projects.. The stricter the rules, the less room there is for unfair competition.

This is especially important in the context of the upcoming Western region. According to the estimates of the World Bank, the European Commission and the UN, Ukraine's consumption now exceeds 588 billion dollars. A significant part of these costs will be connected with the unruly nature of life and the development of the city’s infrastructure. To obtain investments of this scale, it is necessary not only physical security, but also a current legal framework.

Chi means that life automatically becomes more expensive or cheaper after the adoption of the new Civil Code? No sooner. The size of a square meter is formed by the influx of a variety of factors: the quality of land, building materials, labor force, logistics, connection to limits, taxes and availability of finance..

Prote legal significance directly affects the quality of justice. In international practice, the risks themselves are often one of the main officials, which indicate the risk of lending and investment. For example, if banks better understand the structure of rights to a future project, they would like to work with development projects. The fact is that investors, who are aware of the new rules, are ready to invest money on the current term.

Firstly, adaptation to new procedures will take place within an hour. It will be necessary to update contracts, adjust registration mechanisms, improve the practice of notaries and financial institutions. Ale is a natural process for any systemic reform.

The key nutrition itself is not what you need to change. The nutrition lies in how clearly the stench will be realized. Good regulation can immediately protect the buyer and not create overhead barriers to everyday life.

For whom it is important to ensure the stable operation of state registries, a reasonable transition period and synchronization of the new Civil Code with land, local, tax and banking legislation. It is no less important to note the conflict between established agreements and new legal structures.

Now it’s time to honestly say: the new Civil Code will not solve all the problems of the primary market. It does not replace an affordable mortgage, does not automatically reduce the compatibility of everyday life and does not take away security risks. What is the need for a broader ecosystem: effective judges, a daily allowance system, insurance mechanisms and development of the financial market. Therefore, the Civil Code can create a foundation, which means how stable the entire structure will be in the market in the future.

For systemic developers, new rules are possible to advance the standards of sales and increase the trust of buyers. The state has a chance to bring the Ukrainian market closer to European practices and may soon receive investments not only in the middle of the country, but also beyond the border. Since the rate of profit to exploit the market is potentially valuable, the very maturity of the institutional middle ground often determines whether an investor wants to operate in a foreign country.

The most important change that the new Civil Code can bring is the emergence of new legal instruments. We are talking about a gradual transition from complex contractual schemes to a more reasonable system of rights to insanity. This is how the markets of most European countries developed over the past decade..

For Ukrainian indestructibility, this is the right direction. Especially during the period when the country is preparing for a large-scale recovery of long-term capital. And the most reliable developers are committed to ensuring that this transition is carried out clearly, practically and without excessive bureaucracy.