The National Bank of Ukraine (NBU) and the Ministry of Justice in March 2024 should prepare a plan to increase the transparency of the real estate market, the updated Memorandum of Economic and Financial Policy of Ukraine on the EFF extended Financing program with the International Monetary Fund (IMF) reads.

“The NBU and Ministry of Justice will prepare a detailed proposal in consultation with key stakeholders by end-March 2024 to increase the transparency of the real estate market for participants (including international investors), strengthen systemic risk analysis and mitigation, and bank collateral valuations,” the document reads.

This proposal will include details and timelines for introducing: a publicly accessible database of real estate transaction prices with detailed metadata including structural parameters of primary and secondary market; and residential and commercial property price indexes.

Based on this proposal, proposal, the NBU will prepare a framework for the development and annual publication of property price index forecasts.