The Verkhovna Rada of Ukraine has adopted the Draft Law of Ukraine "On Property Valuation" (No. 13435) in the first reading. This decision paves the way for a comprehensive modernization of Ukraine’s property valuation system in line with European standards and marks an important milestone in fulfilling the country’s international commitments.

 

The adoption of the draft law is directly linked to the implementation of the European Union’s Ukraine Facility financial assistance programme and Ukraine’s commitments under the Memorandum with the International Monetary Fund (IMF). Its final adoption will send a strong signal to Ukraine’s international partners that the country remains firmly committed to its reform agenda and will help meet the conditions necessary for the continued disbursement of international financial assistance, which is crucial for Ukraine’s economic resilience and recovery.

 

Reforming the property valuation system is not only about meeting international obligations. It is about establishing a modern, transparent, and reliable framework aligned with European practices, strengthening Ukraine’s investment attractiveness, ensuring a level playing field for all market participants, and enhancing trust in public institutions.

 

At the same time, the reform has sparked broad professional discussion. Therefore, the draft law’s approval in the first reading marks the beginning of collaborative work to refine its provisions ahead of the second reading.

 

To support this process, a working group will be established and coordinated by the State Property Fund of Ukraine. The group will include the authors of the alternative draft law No. 13435-1, representatives of the professional valuation community, experts, and other stakeholders.

 

The shared objective is to develop a balanced law that aligns with European standards, takes into account the interests of the state, businesses, and the professional community, and establishes a modern, efficient, and transparent property valuation system in Ukraine.