The Confederation of Builders of Ukraine as a whole has noted a significant reduction in a corruption component in the state registration of real estate, while earlier "the corruption rate" accounted for 10-20% of the cost of new housing.
Confederation President Lev Partskhaladze gave such data during the round table “The cooperation of the Justice Ministry, the State Registration Service with the Confederation of Builders of Ukraine in the field of providing services on the state registration of rights to immovable property” in Kyiv.
“Of course, this will impact the price of apartments,” he said, asked whether the exclusion of “the corruption rate” would influence the cost of housing during the state registration of real estate.
However, the expert explained that the final cost of housing is determined by the supply and the demand on the market. However, developers, of course, are ready to perform a flexible price policy, taking into account the prevailing positive changes, namely the elimination of the corruption component in the state registration of real estate in the country, he added.
Partskhaladze also noted that before these positive results in fight against corruption “the corruption rate” per one square meter of housing was $10-15 for retail space, and $5-10 for residential property: developers paid bribes totaling up to $1 billion.
