Until a building is commissioned and title is registered, the buyer of an apartment in a Ukrainian new build owns not real estate, but property rights to a future unit. Valuing off-plan property is therefore a distinct professional task: the value is driven not only by the future apartment itself, but by the developer contract, the stage of construction and project-specific risks. The Kanzas company values off-plan apartments and commercial premises in new developments across Kyiv and Ukraine. Our team includes RICS- and TEGoVA (REV)-certified valuers; 20+ years of practice.
Why off-plan property is a special valuation object
Ukrainian developers sell units under construction through several legal structures: targeted bonds, sale-and-purchase agreements for property rights, and the statutory mechanism securing rights in rem to future real estate objects. In every case, the subject of the transaction is a right to receive the unit in the future — and it is this right that is valued.
The value of an off-plan purchase is not the value of a completed apartment with a discount coefficient. It reflects the construction stage, the terms of the developer contract and the risk that the project will not complete — which is why a rigorous, defensible methodology matters.
When you need an off-plan property valuation
- purchase or resale (assignment) of off-plan property before the building is commissioned;
- disputes with the developer: stalled construction, delays, quality claims or contract termination;
- division of marital assets where title has not yet been registered;
- inheritance and gifting of property rights;
- pledge of property rights as loan security;
- transactions where one party considers the price unsupported.
In our practice, litigation is the most frequent purpose: in disputes with developers and in asset division, an independent valuation report becomes the core evidence of value. For foreign investors holding Ukrainian off-plan assets, we deliver reports that meet Ukrainian statutory requirements and read cleanly for international counsel.
Methodology: contract, construction stage, market comparables
Our approach rests on three pillars:
- The developer contract — the scope of rights, payment schedule, amounts paid, sanctions and termination terms.
- The stage of construction — the actual, documented and inspected state of the building at the valuation date.
- Market comparables — asking and transaction prices for similar units in the same and comparable developments, adjusted for construction stage and risk.
The result is a market value conclusion that withstands court scrutiny and formal review.
Commercial premises in new builds
Ground-floor and first-floor commercial units — future offices, shops and service premises — are sold under the same property rights structures. We value off-plan commercial premises for purchase, financing and litigation, factoring in footfall, layout and the competitive environment of the location.
Documents and process
We work from the developer contract with all annexes, payment records and the technical specification of the unit (layout, floor, area), plus any available evidence of construction progress. Where documents are missing — common in litigation — we advise what can be restored or substituted. A single-unit valuation takes a few business days; portfolios, contested situations and retrospective valuations for court take longer. Fee and deadline are fixed in the engagement contract.
FAQ
How does this differ from valuing unfinished construction? Unfinished construction is the building itself, valued as an asset of its owner (usually the developer). Off-plan property rights are the buyer's right to a future unit within that building — a different valuation object with a different methodology.
Can property rights be valued if construction has stalled? Yes — this is among the most requested scenarios. The valuation reflects the actual state of construction and completion risk, and for litigation it can be performed as of a past date.
The building is commissioned but title is not yet registered — what is valued? Until state registration of ownership, the valuation object remains the property rights. After registration, the completed apartment is valued as real estate.
Off-plan valuation is work where the legal structure weighs as much as the square metres, and we examine each client's situation with care — from the contract to the state of the site. Your report will be delivered exactly on the agreed date and will stand up in court. Contact us by email or messenger.
