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Ukraine’s rental housing market must be regulated – minister

Around 70% of the market is currently in the shadow, the official claims.
15:21, 6 February 2018

forum.domik.ua

Ukraine’s Minister of Regional Development, Construction and Housing and Deputy Prime Minister Hennady Zubko has said the government is currently working on a bill to resolve the issue of rental housing in Ukraine, UNIAN reports.

Related: Ukraine’s primary housing market prices increase by 4.7% in 2017

“Around 70% of the rental market in Ukraine is in the shadow. We are now preparing a law that will establish a set of rules in this sector: what is considered rented accommodation, how one can get in there and obtain a residence registration, how to evict someone if they fail to comply with terms of contract,” the government’s press service reported citing the minister.

Related: State Agency of Youth Housing boosts supply of housing by 61%

The official believes that rental housing costs could be part of the employer costs.

Related: Bloomberg places Kyiv second among cities with least affordable housing

“That means that a bank, a corporation or any company could spend part of the money to pay rent for its employees. This doesn’t require the purchase of office apartments and their maintenance. Such option is available to the National Police and the Armed Forces of Ukraine. Investors will give money for housing construction not for sale, but for rent. This enables to build properties and receive legal income from it,” Zubko said.

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