Business news from Ukraine

Ukraine will pay compensation for destroyed housing with “housing certificates”

Prepared for the second reading of the bill on compensation for damaged and destroyed housing (#7198) takes into account the position of the Ministry of Reconstruction that compensation for destroyed housing, recorded in the “Diya”, will be provided with money in the form of housing certificates, not square meters, said Deputy Minister Alexandra Azarkhina.
“A person will have the opportunity to choose how he uses the housing certificate – either in the secondary housing market or primary housing. There is also an opportunity, in case of loss of a private house, to receive compensation for building materials and work on the site of the destroyed house,” – she said at the signing ceremony of the Memorandum of Cooperation between the Ministry of Reconstruction and Public Organization “Office of Transformation”.
Azarkhina specified that the housing certificate would be issued for the amount, which reflects the value of the destroyed housing, and it can be used when buying real estate.
The Deputy Minister stressed that the ministry and the team of authors of the bill № 7198 were categorically against the state itself to build housing to replace the destroyed and settle people there.
“We were against it, and we are glad that our approach was supported,” said Azarkhina.
“Housing certificate” can be used for five years to buy an apartment, private, garden or summer house on the primary or secondary markets. You can choose any region, except temporarily occupied territories and those where military operations are conducted. If funds from the housing certificate are not enough to buy the desired property, a person can add the missing amount, she added.
The basic source of compensation should be seized Russian assets.
As reported, more than 2.4 million Ukrainians live in housing damaged as a result of Russian aggression. Diya has already received more than 316 thousand applications for destroyed and damaged property. The Verkhovna Rada approved the draft law No. 7198 in the first reading in April 2022.

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