July 1 — the Land Market Year

by Olha Povaliaieva
Saturday, July 2, 2022
July 1 — the Land Market Year

On July 1, 2021, the land market was opened, and during this time, 105.000 plots of land were sold

At the Ministry of agricultural policy meeting, dedicated to the land market's progress in Ukraine, ministers, parliamentarians, and other Ukrainians had the opportunity to discuss the achievements of land reform.

Until July 1, 2021, the date of the opening of the land market, it was legally impossible to buy or sell agricultural land. However, the land reform has turned one of the most corrupt areas of Ukrainian business into a profitable and transparent land market.

"The reform was carried out for the Ukrainians, and they appreciated it. Obviously, a person who owns land will always protect it better than an employee. This can be seen today," minister of agrarian policy and food of Ukraine Mykola Solskyy.

During the year of the market, Ukrainians concluded more than 105.000 purchase and sale transactions. 88.000 transactions together brought about $239 million. As analysts have guaranteed, land prices will rise. And in comparison with the start date of the market, prices for fertile Ukrainian land increased by 30%, which in monetary terms equals about $1.300 at a rate of ₴34.97 per dollar.

Unfortunately, the war left its mark on the most anticipated reform in Ukraine. About 50.000 transactions failed due to hostilities. During martial law, auctions for the purchase of agricultural land have been suspended. However, everyone has the opportunity to buy land for other economic purposes.

Everything will be Ukraine!

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