As part of a working visit, Nataliia Panova, Deputy Head of the State Property Fund of Ukraine, met with Nehama Bugin, President of the Israel Real Estate Appraisers Association, and Yevhen Korniichuk, Ambassador Extraordinary and Plenipotentiary of Ukraine to the State of Israel.

 

The meeting focused on practical approaches to the valuation of property, property rights, and damages caused by the war.

 

The Israeli model is of particular interest to Ukraine, as the valuation profession there extends well beyond the assessment of physical real estate assets. It places significant emphasis on the valuation of property interests, including long-term lease rights, land use rights, development rights, and rights related to the restoration of damaged property.

 

At the same time, Israel’s valuation system combines state regulation with professional self-governance. The profession is regulated by the Ministry of Justice of Israel, while the professional community is represented by a single self-regulatory organization—the Israel Real Estate Appraisers Association. The Association plays an active role in advancing the profession, training specialists, and promoting the implementation of International Valuation Standards.

 

This experience is highly relevant for Ukraine. As a result of the war, the country must assess not only destroyed buildings and equipment, but also complex property rights, including leasehold interests, land use rights, improvements, lost income, damaged agricultural assets, and other economic interests.

 

During the meeting, the participants discussed:

 

the role of the professional community in developing valuation standards;

cooperation between appraisers and public authorities;

training specialists to assess war-related damages;

quality assurance in valuation practice;

the application of international approaches and methodologies.

 

Nataliia Panova emphasized that Ukraine’s objective is not simply to replicate foreign experience, but to identify practical solutions that will help establish a professional, transparent, and fair system for assessing war-related damages.

 

Such professional exchanges promote the sharing of practical expertise and contribute to the continued development of the valuation profession.

 

As the regulator of valuation activities in Ukraine, the State Property Fund of Ukraine continues to study international best practices that can strengthen the national valuation system and become an important component of the country's post-war recovery.