Realtors point at stir on property market thanks to acceleration of deals with introduction of new registration rules

Kyiv, July 11 (Interfax-Ukraine) – New property registration rules that entered into force from January 1, 2013 have promoted the stirring up of the property market in the first half of 2013, Director General of Blagovist Real Estate Agency, which is part of the First Realty Group (both based in Kyiv), Iryna Lukhanina, said at a press conference at Interfax-Ukraine on Thursday.

"If last year after the transfer of the good faith deposit buyers were waiting for the completion of the deals from one to two months, now it could happen in a week. This is the positive shift which cannot but influence the market and it did influence the market: now the deals are rather quick and they are finalized in a week or two, maybe three, if there are aggravating circumstances in the form of boards of trustees or the issue of mortgage loans," she said.

She said that in the first half of 2013, almost all the segments of the property market stirred up.

"The market have become more dynamic and all market players, realtors and buyers/sellers noted this, and this is linked to the fact that all the required documents could be drawn up in a rather short period of time," she said.

The State Registration Service has been created in Ukraine, to which from January 1, 2013 the function of state registration of ownership rights to property was transferred from the Technical Inventory Bureau to the service, while the bureau will continue conducting a stocktaking.