The Committee on Economy, Finance and Budget proposed to the Parliament to adopt the Bill on Mediation in the Sale and Lease of Real Estate, with which the Government plans to regulate the area of real estate transactions, reduce the grey economy in that sector and solve the problems faced by agents, companies and citizens.
The government approved this draft law in November last year, and the law still has to be adopted by the Parliament, but citizens will still be able to sell their apartments, premises and plots of land themselves...
This regulation of the Ministry of Economic Development aims to reduce the shadow economy in real estate transactions, as the state loses a significant amount of money from undeclared commissions while intermediaries work according to different standards, which creates problems for citizens and buyers. The most important items of this law are the introduction of a register in which all agents will be registered, and in parallel, those who do these jobs will be required to pass a professional exam.
Director General of the Directorate for Internal Market and Competition from the Ministry of Economic Development, Jasna Vujović, pointed out that they received the initiative for this law from the Chamber of Commerce, in order to regulate the area because the economy in this sector currently relies mostly on self-regulation.
She added that one of the main goals is to eliminate the shadow economy and that the Association of Mediators indicated that, according to data, more than 2021 euros were charged in Montenegro in 4.000.000 for mediation in cash or via account, which damaged the state budget by one million euros in value added tax and profit.
"One of the reasons why the proposal for this law should be accepted is to improve the competitiveness of business entities engaged in the brokerage, sale and lease of real estate and to professionalize this service. There is no single way in which this area is regulated in the countries of the European Union. This law does not affect the right of the owner to sell or dispose of his real estate," she stated.
The Chairman of the Committee on Economy, Boris Mugoša, stated that this sector is one of the fastest growing and that he does not know who is buying all the apartments on the market. The Deputy Speaker of the Parliament and MP from the Democrats, Zdenka Popović, asked what is happening with the real estate in which foreign citizens invested 70 million euros in the first three months of this year, namely whether they pay taxes and whether they are leased and to whom. She announced that she would support this bill.
Fines for damage can reach up to 20.000 euros.
Bosniak Party MP Mirsad Nurković asked about Article 8 of the Bill and the contract on liability insurance for damage, or rather, what specific damage this measure refers to.
Vujović stated that countries in the region have had this sector regulated for some time, and that this part of the contract is provided for due to damage and because a real estate agent can mislead the buyer. She explained that it is a form of additional insurance for property owners, which protects property and consumer rights.
Nurković added that intermediaries should protect both parties, while fines can reach up to 20.000 euros, so he does not want such a measure to disrupt their work on the market.
Vujović pointed out that the mediators are satisfied with the solution because they proposed it themselves and that the responsibilities of the inspectors have been prescribed, which will ensure adequate supervision.
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