UNECE helps foster a sustainable real estate market in Ukraine
Geneva, 21 June 2010 --
The recent sub-prime mortgage crisis and the collapse of the global housing bubble damaged financial institutions globally and sparked the worst financial and economic crisis since the Great Depression. As part of UNECE efforts to avert future crises and to promote sustainable development in the region, a round table on sustainable real estate markets was held in Kiev, Ukraine, on 18 June 2010, organized by UNECE in cooperation with the Ukrainian Chapter of the International Real Estate Federation (FIABCI-Ukraine) and the UNECE Real Estate Market Advisory Group.
The Round Table, “Towards Sustainable Real Estate Markets in Ukraine”, launched the UNECE Policy Framework for Sustainable Real Estate Markets in Ukraine and discussed the main principles and guidance provided in the study. Government officials, representatives of professional associations and the private sector, as well as international experts participated in the Round Table, exchanging views on the current situation in the real estate sector of Ukraine and discussing how to adapt the principles and guidance of the Policy Framework to Ukraine’s particular institutional context.
The conclusions of the Round Table will provide guidance to a working group, to be established as a follow up to this event, to work with the Government of Ukraine on the development of specific policy reforms in Ukraine’s real estate sector.
The recent financial and economic crisis highlighted the urgent need for UNECE to provide guidance and promote sound real estate markets in its region. Moreover, a fully functioning real estate sector, based on transparent real estate and financial markets, could be a driving force for development and produce economic, social and environmental benefits for UNECE member States. To address these issues, the UNECE Real Estate Market Advisory Group developed the Policy Framework for Sustainable Real Estate Markets, which offers guidance for policy action aimed at building a sustainable real estate sector in countries of the UNECE region.
For more information, please contact:
Mr. Sergii Yampolskyi
Secretary to the Committee on Housing and Land Management
UNECE Environment, Housing and Land Management Division
Palais des Nations C H-1211 Geneva 10
Tel: +41 (0)22 917 3663
Fax: +41 (0)22 917 0107
E-mail: [email protected]
Ref: ECE/ENV/10/P18