A draft bill on housing cooperatives is soon to be discussed by the Council of Ministers. Thanks to it, investors will gain new forms of cooperation.
According to the bill, a group of AT LEAST THREE PRIVATE INVESTORS WILL BE ABLE TO CREATE A COOPERATIVE to build or renovate a house together.
The co-operative will be established by contract or by forming a civil partnership. According to the project’s authors, this is supposed to make it easier for investors to obtain financing, even in the form of a bank loan.
Moreover, the co-op is to be given the opportunity to acquire land from the municipality on PREFERENTIAL TERMS. It is about organizing a limited tender only for cooperatives or housing cooperatives.
DEVELOPERS are to be excluded from the possibility to take advantage of this regulation, as well as entities, which in the last two years were engaged in developer activity or were – according to tax regulations – related to the developer.