At the bottom line – in both projects the residents get upgraded apartments (at a higher value), but the way to get them is different: while in demolition and building projects the residents are evacuated to alternative accommodation with the building being demolished and replaced by another which is built in its place, in NOP 38/3 an existing building is usually renovated (although the law also allows to demolish a building and rebuild it), equipped with reinforces, Mamad, elevator and balconies, and undergoes a renovation of facades and environment.

The purpose of both plans is different (38/2 – assisting weak populations versus 38/3 – reinforcing buildings against earthquakes) as well as the duration of the projects (naturally depending on the developers).

There are differences also in terms of the residents’ rights during the projects and therefore, it is highly recommended to consult with an attorney before starting a 38/2 or 38/3 project.

To conclude, every apartment owner who wishes to take part in any of the NOP 38 projects should be familiar with the advantages and disadvantages of the formats as well as the costs, obligations and rights of all parties involved. Sometimes it is better to participate in a NOP 38/2 project (if possible of course) and sometimes – in 38/3.

It is advisable to consult with professionals in the area (developers, attorneys, appraisers, architects etc.) and make an informed decision that will increase the value of the apartments participating in the chosen project.