In 2021, Ukrainians used the service of automatic real estate valuation 800 thousand times

The reform of valuation activity has become one of the key achievements of the State Property Fund of Ukraine in 2021. Since June 2021, the service of automatic real estate valuation has been used 800 thousand times, which made it possible to save citizens UAH 80 million, while the overall economic effect of the reform is almost UAH 2.1 billion.

This was announced by Dmytro Sennychenko, Chairman of the State Property Fund of Ukraine.

"The State Property Fund has launched a comprehensive reform of real estate valuation. The first step was the liquidation of intermediary sites that took funds for entering valuation data into the register. Now this is completely free, thanks to which citizens saved more than UAH 2 billion. Launched in 2021, the service of automatic valuation of real estate became the second stage of the reform. Now it is not necessary to contact the appraisers to determine the value of the property. To get an assessment, just go to the site and enter the necessary information. The service has already been used 800 thousand times! And the savings for citizens due to this service exceed UAH 80 million," - Sennychenko noted.

At the same time, due to increased transparency of the process, in the third quarter of 2021, revenues to the Pension Fund from real estate transactions increased by 42% or UAH 217 million.

"The next stage of our work is the elimination of factional evaluation and the transition to world standards of valuation activity. These changes will allow to implement in Ukraine rules that are understandable for business from any country. The relevant draft law has already been submitted to the Verkhovna Rada,"- Dmytro Sennychenko added.

The draft law was developed jointly with representatives of the World Bank, and is currently expected to be considered in the Verkhovna Rada. The adoption of the draft law will eliminate factional valuation (separate evaluation of land plot and real estate on it), as well as introduce leading standards for conducting valuation activities and increase control over the activities of appraisers.

The relevant innovations will greatly simplify the property assessing procedure for citizens, ensure the improvement of the quality of services in the field of valuation and eliminate opportunities for manipulation.