Average price of 1 hectare of land in Ukraine for year decreased by 9% to UAH 35,300

The average price for 1 hectare of land for commercial agricultural production for the year decreased by 9% to UAH 35,300 (as of September 2022, the average price of 1 hectare of land amounted to UAH 38,722).

This is stated in the message of the State Service of Ukraine for Geodesy, Cartography and Cadastre, Ukrainian News Agency reports.

Chairman of the StateGeoCadastre Dmytro Makarenko said that since the lifting of the moratorium on the alienation of agricultural land (July 1, 2021), 79,690 land plots with a total area of ​ ​ 249,800 hectares have been alienated under purchase and sale agreements, while the average value of alienated land plots is UAH 35,300 per hectare.

Makarenko recalled that according to the legislation, the price in the contract of purchase and sale of a land plot is established by agreement of the parties, but cannot be less than its normative monetary value.

According to him, today the average indicators of normative monetary valuation of agricultural lands (arable land) in Ukraine range from UAH 21,400 per 1 hectare in the Zhytomyr Region to UAH 33,600 per 1 hectare in the Cherkasy Region and reflect directly the "quality" of the soil cover of the region in application to agricultural production.

"The dynamics that the market is currently demonstrating are quite predictable, given the current situation in the country. In 2023, the average price for land plots subject to the moratorium, with alienation under the contract of purchase and sale, is highest in the Ivano-Frankivsk (UAH 72,300 per hectare), Lviv (UAH 51,300 per hectare), Ternopil (UAH 50,900 per hectare) Regions, and the lowest - in the Kherson (UAH 28,600 per hectare) and Zaporizhzhia (UAH 28.8 per hectare) Regions," Makarenko said.

As Ukrainian News Agency earlier reported, from July 1, the law on the launch of the land market came into force.