Tsvetelina Taseva, executive director, Address Real Estate: State interventions should be precise to the maximum level

In the last months we have seen how European governments have initiated the state’s active participation in different, and until recently entirely liberal, sectors of the economy. The executives all around the world try to find the best mechanisms for taming the raging crisis and limiting its consequences. In this context the application of a housing policy by the state in such a moment could be perceived as an attempt to balance the market development and not as a way of violating the main principles of market economy. Meanwhile, the state’s interventions should be precise.
The measures should also be directed towards developing urban areas and improving infrastructure, which produces significant impact upon the real estate property market.  
Inconsiderate interference with the market processes would deteriorate the market and the economic climate and would further change some processes. Therefore, the criteria regarding the successful introduction of such policy have to be clearly defined so that to avoid speculations.
The question now is not whether but how to act. The practice so far emphasizes that all tax preferences are producing positive results, while simplified access to land is often cause for corruption. Subsequently, programs for residential policies should be developed and they have to give equal rights to all people participating in the process.

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