Transformating housing ownership in Ukraine-2022: residential buildings property before distruction and after restoration

Vsevolod Nikolaiev and Andrii Shcherbyna

ERES from European Real Estate Society (ERES)

Abstract: The following article briefly reflects the author’s progress in their complex research of specific Ukrainian problems of total housing privatization resulting in utility debts and housing stock degradation together with rising subsidies, as well as deformed condominium model without real estate object and weak residential building management. The aim of the article is to show the root of the problem which is connected with wrong property relations and to find common way out. Unlike other authors from East European countries, we base our methodology on the proof that significant part of citizens cannot afford maintenance, operation and renovation of their housing and that the public funding of homeowners is unfair and must be transformed into property exchange instead of subsidizing. To simplify this process Ukrainian wrong condominium model with ownership on individual apartment has to be transformed into housing corporation with shared ownership on land plot and whole building. Next, the shares of the company could be divided on virtual tokens represented the part of the property which could be exchanged for money. The proposed mechanism has additional advantages in case of construction and reconstruction financing, social and private renting housing development, housing management companies stimulating. The model could be used in other East European countries with the similar problems.The problem has acquired particular importance in connection with the destruction of a significant part of residential buildings during the Russian aggression in Ukraine in 2022. New construction and restoration of housing will require fundamentally new property relations, free from existing shortcomings.

Keywords: assets; Ownership; Restoration; Subsidies (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2022-01-01
New Economics Papers: this item is included in nep-cis, nep-tra and nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:arz:wpaper:2022_226

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