CEE Legal Matters
In-depth coverage of the news and newsmakers that shape Europe's emerging markets
Ever since Booking.com’s activities had been suspended in Turkey by a court decision upon “unfair competition” claims raised by the Association of Turkish Travel Agencies (TURSAB), new regulations were anticipated in the short-term lease sector dominated by Airbnb, as unregistered and untaxed rental income obtained from short-term rentals has been a matter of discussion for a long time.
Albania’s real estate market has undergone a significant transformation in the last decade, attracting global attention across the residential, commercial, and tourism sectors. This surge in interest is a result of the country’s economic and legislative reforms, political stability, successful justice reform implementation, and progress in the EU accession process. These factors collectively present investors with promising opportunities in Albania’s dynamic and evolving market.
Based on our experience and feedback from our clients, Hungary’s real estate law has already provided a very favorable legal environment for secure real estate investments. In the integrated land registration system, introduced in 1971, based on a cadastral map, real estate transactions are administered by one single decentralized organization comprising 20 regional and 119 district land offices.
On January 19, 2024, the International Federation of Consulting Engineers (FIDIC) entered into a strategic partnership with Ukraine’s Ministry for Communities, Territories, and Infrastructure Development. The deal aims to create National Particular Conditions for using FIDIC contracts in Ukraine. This is promising news for professionals familiar with drafting such contracts for Ukrainian construction projects. But can FIDIC forms be used in Ukraine while this initiative is in progress, and what challenges do professionals face in using these contracts in the country?
Zepos & Yannopoulos has advised Hellenic Properties on its acquisition of a former industrial building located in Tavros, Attica, to be developed into a green office building.
Schoenherr has advised Euro Real Estate Holding on the indirect acquisition of the City Tower Vienna via United Benefits Holding from Immofinanz. Reportedly, Jank Weiler Operenyi advised Immofinanz and Wolf Theiss advised UniCredit Bank Austria.
Former Home Credit International Legal Manager Martin Seda has been promoted to the Chief Legal & Compliance Officer position for the group.
