Optimization of apartment sales in emergency buildings using the DOMOVA platform

The issue of dilapidated buildings in Ukraine is becoming particularly relevant as many residential buildings built in the mid-20th century are reaching the end of their useful lifetime. Given the postponement of government decisions on reconstruction and the lack of clear legislative norms, owners of such apartments face the problem of a decrease in the value of their property and difficulties in selling it. As time goes on, the process of destruction of emergency buildings continues, and the cost per square meter of housing in old and dilapidated buildings is steadily falling. However, if we look at this problem from a broader viewpoint, from the perspective of aesthetics, comfort, functionality, and technology, in the context of modern architectural planning of urban developments, taking into account traffic load, this problem can provide a development vector for investment and urbanism.

Discussions on the reconstruction of outdated housing stock have been ongoing since 2018 and have intensified again recently. The draft law on the comprehensive reconstruction of quarters (districts) of dilapidated housing stock stipulates that local authorities will determine which buildings need reconstruction. According to Article 9, the sources of financing for the reconstruction and replacement of the housing stock should be investors’ funds, reconstruction funds, as well as funds from the state and local budgets with their subsequent return. The reconstruction program stipulates that if buildings are demolished, residents should be offered new housing. Unfortunately, neither the state nor local authorities have any reserve housing for the reconstruction program, nor funding. The war has only exacerbated this problem. Last year, the President of Ukraine initiated a program of affordable housing loans called eOselya, but only for certain categories of people.

In this context, the DOMOVA platform represents an innovative solution for apartment owners in this kind of housing. Firstly, it is a real opportunity to sell an apartment in a dilapidated or emergency building at a price above the market price. Secondly, it is a transparent process of selling emergency accommodation and buying buildings for reconstruction by investors or developers. 

One of the advantages of the DOMOVA platform for owners of dilapidated housing is the ability to submit a free request for sale, and receive consulting support from the company’s experts and lawyers.

And then, the next step is to unite the apartment owners to sell the entire building. The sale of a condominium on the DOMOVA platform allows all co-owners to receive their share of the value of the common area, attic, basement, and to take into account part of the buyer’s profit from the construction of a new, larger building on the site of the old one. Therefore, the price for an apartment will be higher than the market price. By combining several houses, you can sell an entire neighborhood for new construction.

This approach greatly simplifies the sales process, allowing owners to enter the market with a more favorable offer.

In addition to economic benefits, DOMOVA contributes to solving social problems by helping to restore and modernize the housing stock. This helps to improve the quality of life of citizens and renew the urban environment.

Thus, DOMOVA represents not only a platform for real estate sales, but also an important tool for social and economic transformation, creating new opportunities for property owners and investors.