Title: Ukraine‘s Land Market Sees Slow Start, But 2024 Sales Surge
In the four and a half years since the lifting of the moratorium on selling agricultural land in Ukraine, only around 604,000 hectares have changed hands. Despite the initial slow pace, sales in 2024 saw a significant uptick, offering insights into the evolving landscape of Ukraine’s land market.
Key Findings:
- Total land sold from July 1, 2021, to December 31, 2024: 604,000 hectares
- Land sold in 2024: 320,660 hectares (approximately 53% of total sales)
- Average price per hectare in 2024: 46,678 UAH (~1,163 USD)
- Most expensive regions in 2024: Ivanovo-Frankivsk (89,744 UAH), Lviv (71,390 UAH), and Poltava (66,232 UAH)
- Least expensive regions in 2024: Zaporizhzhia (33,981 UAH), Mykolaiv (34,033 UAH), and Sumy (34,936 UAH)
Recent Trends and Market Data:
- Legal entities purchased 78,307 hectares (around 30% of total sales) at an average price of 62,656 UAH (~1,561 USD) per hectare.
- Physical persons (individuals) bought the remaining 70% or 242,353 hectares at an average price of 41,510 UAH (~1,034 USD) per hectare.
- Since the moratorium’s lift, only about 1% of the 17.5 million eligible hectares have been sold.
- As of July 4, 2023, 85,247 sales deals have been finalized.
Market Outlook and Future Growth:
While the initial uptake in land sales has been relatively modest, the surge in 2024 suggests a potential shift in market behavior driven by rising prices and growing interest from both local and international investors. As the market matures, it will be crucial to monitor regional discrepancies in pricing and demand, as well as the impact of policy changes on market dynamics.
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