On 10 October 2022, Law of Ukraine No. 2518-IX "On guaranteeing property rights to real estate to be constructed in the future" ("Law") came into effect.
Originating from draft bill No. 5091, which had been under discussion since February 2021, and made into law on 15 August 2022, the Law aims to offer more protection to real estate investors.
The Law intends to secure the rights of real estate investors (particularly those investing in residential real estate) on the primary market by introducing a series of measures.
Of particular note is a new requirement that a special property right to the property and its future construction must be registered in the State Property Rights Register before obtaining finance.
Among other changes, the Law introduces:
The Law will apply only to properties where the construction permit was obtained after the Law became effective.
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