Baku, Azerbaijan, Dec. 8
By Nigar Guliyeva - Trend:
Uzbek government plans to simplify the system of regulating realtor activity by transferring licensing functions to the Council of Ministers of Karakalpakstan, authorities of regions and Tashkent.
A draft presidential decree proposes to abolish the licensing of information and consulting services in the real estate market and the requirement of minimum authorized capital of real estate organizations.
The document provides for establishment of regional centers for provision of real estate services.
Today, 251 real estate organizations and 1,642 qualified realtors operate in Uzbekistan. However, as noted in the draft decree, their share in the registration of real estate transactions remains insignificant.
More than 49 percent of real estate organizations work in Tashkent. In the regions of the republic, the level of development of real estate services remains low.