The CERHA HEMPEL Real Estate Insider provides an insight to the real estate industry in Austria and CEE. Besides reviews on case-law and legal developments, the Real Estate Insider covers all aspects affecting the industry including market trends and insights, project and deal reviews, reviews on political and legislative developments, reports on events etc. As one of the leading real estate practices in Austria and CEE, our team is fluent in advising clients on all aspects of real estate law from cross border portfolio transactions to building organizer projects to rental agreements and constructions matters, you name it.
On 4 May 2021, the President of the Republic of Belarus adopted Edict No. 176 On House-Building Bonds (the "Edict"). The Edict has banned any new issue of house-building bonds in Belarus. In fact, the Edict discontinues the circulation of house-building bonds that started in 2009.
The final version from 04.06.2021 of the Delegated Regulation based on the Taxonomy Regulation (Regulation (EU) 2020/852) was published in all official EU languages on 08.06.2021.
In March 2021, the Bulgarian Supreme Court issued an interpretative decision in case 3/2018 (the "Decision") that sheds light on the legal effects of the deletion of a mortgage on the grounds that the 10-year validity period since its registration has expired.
The Taxonomy Regulation (EU) 2020/852 (Taxonomy Regulation) already entered into force in Summer 2020, but it was just now (21 April 2021) that the EU Commission approved the first delegated act based on the Taxonomy Regulation, which will enter into force on 1 January 2022. This delegated act contains technical screening criteria for two of the six environmental objectives of the Taxonomy Regulation, namely "climate change mitigation" and "climate change adaption".
In the wake of heavy criticism in recent years, Czech construction law, primarily comprising Construction Act No. 183/2006 Coll., as amended (the “Construction Act”), will (hopefully) have a completely new look from 2023.
Law no. 246/2020 on the use, preservation and protection of soil (“Law 246/2000”) entered into force on 1 January 2021.
With effect from 8 March 2021, the Hungarian government introduced strict coronavirus restrictions according to which all non-essential shops must remain closed and all services, with a few exceptions (e.g. private healthcare services), are suspended.
At the beginning of October 2020, it was announced that Emaar Properties, a property developer headquartered in Dubai, will launch a major investment project in Belarus called the Northern Shore.
The Bulgarian government recently introduced draft legislation on industrial parks (the “Draft”), which is currently being debated in Parliament. The objective of the proposed legislation is to boost the development of industrial parks and encourage investments in industry by introducing various incentives.
With the New Year fast approaching and given that the "statutory deferral" of residential rents – introduced in the spring of 2020 in the wake of the exceptional circumstances triggered by the coronavirus – was due to expire on 31 December 2020, the legislator has now adopted an amendment to the 2nd COVID-19 Judiciary Accompanying Act.
