The price of land has increased in three regions of Ukraine

06/10/2023 17:31

During the two years of operation of the free land market, only 1% of all agricultural land was sold and donated. This was announced by the Deputy Minister of Agrarian Policy and Food of Ukraine for Digital Development, Digital Transformations and Digitalization, Denys Bashlyk.

According to him, during this time the land market has changed, the price of land is gradually increasing.

"In three regions: Ivano-Frankivsk, Lviv and Ternopil, the average price per hectare has increased. It reached almost $2,000 per hectare in Frankiv Oblast, $1,450 in Lviv Oblast, and $1,400 in Ternopil Oblast. This is an indicator that despite the restriction, there is a demand for land, and the price does not stand still. Everything works, and the myths did not work," said the deputy minister.

Denys Bashlyk told what the second stage of the reform will be, starting in January 2024. In particular, the market for legal entities is opening. At the same time, only Ukrainians can buy land. No foreigners. According to him, the decision on the admission of foreigners to the land market, according to the law, will be made in an all-Ukrainian referendum.

"With the beginning of the second stage, a group of legal entities will be formed that want to acquire land in order to develop long-term investment projects. This will cause the price to rise. That's why people are now very cautious about land disposal, because they understand that it is an immovable asset that will bring them income," Denys Bashlyk emphasized.

During the two years of operation of the free land market, only 1% of all agricultural land was sold and donated. This was announced by the Deputy Minister of Agrarian Policy and Food of Ukraine for Digital Development, Digital Transformations and Digitalization, Denys Bashlyk.
According to him, during this time the land market has changed, the price of land is gradually increasing.
"In three regions: Ivano-Frankivsk, Lviv and Ternopil, the average price per hectare has increased. It reached almost $2,000 per hectare in Frankiv Oblast, $1,450 in Lviv Oblast, and $1,400 in Ternopil Oblast. This is an indicator that despite the restriction, there is a demand for land, and the price does not stand still. Everything works, and the myths did not work," said the deputy minister.
Denys Bashlyk told what the second stage of the reform will be, starting in January 2024. In particular, the market for legal entities is opening. At the same time, only Ukrainians can buy land. No foreigners. According to him, the decision on the admission of foreigners to the land market, according to the law, will be made in an all-Ukrainian referendum.
"With the beginning of the second stage, a group of legal entities will be formed that want to acquire land in order to develop long-term investment projects. This will cause the price to rise. That's why people are now very cautious about land disposal, because they understand that it is an immovable asset that will bring them income," Denys Bashlyk emphasized.
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