On July 1, 2021, the law On decentralisation came into force, which allowed private individuals with Ukrainian citizenship to buy agricultural land. Already in the first month after the opening of the market, citizens and the state concluded more than 23.000 contracts.
Now, the 2nd stage comes into force — providing the opportunity to purchase agricultural land by legal entities. The main conditions for approval of the purchase are Ukrainian citizenship and a plot/plots of land whose area does not exceed 10.000 ha.
Private business is already preparing to expand their land capabilities. Therefore, Ukraine's Ministry of agricultural policy predicts an increase in land prices. It is worth noting that both Ukrainian and foreign investment projects will be implemented on this land since foreigners have the right to lease.
Land prices have already begun to rise, and the most expensive today is in the western part of Ukraine, which is not surprising because this is the point of the longest distance from the front line:
- Ivano-Frankivsk region — ≈ $2,000 per ha.
- Lviv region — ≈ $1,450 per ha.
- Ternopil region — ≈ $1400 per ha.