Ukraine supposed to present plan for improving real estate market's transparency in March - IMF memorandum

MOSCOW. March 26 (Interfax) - The National Bank of Ukraine (NBU) and the Ukrainian Justice Ministry are supposed to draw up a plan for improving the real estate market's transparency in March 2024, as follows from the Memorandum of Economic and Financial Policies of Ukraine, which the International Monetary Fund (IMF) issued based on the Third Review of the Extended Arrangement under the Extended Fund Facility (EFF).

"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," Ukrainian media reported citing the document.

The proposal would 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, it said.

This proposal would serve as a basis for the NBU to prepare a framework for the development and annual publication of property price index forecasts, it said.