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At the fall of the Soviet Union, Ukraine was viewed by many as one of the best economic prospects for the future. In the following decade they were proved mostly wrong. Whilst Kiev experienced massive growth with a lot of money going into the real estate sector, the rest of the country wasn’t so prosperous. Only in recent years has the economy seen a real turnaround, and growth has been consistent since. The days of Communist rule meant that no individuals were allowed to own property, but after the collapse of the Soviet Bloc, Ukrainian citizens were allowed to purchase property. Land ownership was not allowed until 2002, when a law allowing the purchase of plots was passed. As part of a former Communist state, Ukraine is prone to the same pitfalls as any other former Soviet country – all land titles should be checked in detail by more than one independent party to ensure legality of ownership, as reclamations can be lost and confused over time.
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