Verkhovna Rada Adopts Law on Transition to European Standards for Property Valuation

On October 14, the Verkhovna Rada adopted bill No. 13435, which transitions the property valuation market in Ukraine to European and international standards. A total of 272 members of parliament voted in favor. The bill introduces unified rules for property valuation, digitization of processes, and enhanced state control, including the valuation of real estate and land plots as a single entity. It also establishes restrictions to prevent conflicts of interest. The bill is part of the EU MFA program and aims to reform legislation in the fields of economy and anti-corruption. It simplifies access to the profession for new specialists and reduces corruption risks. A unified professional organization of appraisers will be created, and qualification certificates will become indefinite but require confirmation every three years. Property valuation will become more objective and understandable for citizens and businesses, facilitating the attraction of funds into the Ukrainian economy.

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