25 May 2021, Tuesday, 13:58 128

Opening Of Land Market Will Lead To Doubling Of Land Price In First 3-5 Years - Shmyhal

Редактор: Daria Zubkova

Prime Minister Denys Shmyhal states that the opening of the land market will double the price of land in the first 3-5 years.

He said this during the Ukraine 30 All-Ukrainian Forum, Ukrainian News Agency reports.

"The opening of the land market will lead to an increase in the price of land at least twice during the first 3-5 years. These are experts’ estimates," Shmyhal said.

He added that the launch of the land market is also beneficial for Ukrainian business.

According to him, today the agricultural productivity in Ukraine is one of the lowest in Europe due to the lack of a civilized turnover of agricultural land.

He noted that after the launch of land turnover, producers will have the opportunity to plan their activities for decades ahead and not be afraid to invest.

At the same time, according to him, small and medium farmers will receive the priority right to buy out agricultural land if the landowner decides to sell his share.

The Prime Minister also said that over 30 years in Ukraine, about 5 million hectares of land have been withdrawn into private ownership through schemes.

As Ukrainian News Agency earlier reported, President Volodymyr Zelenskyy approved the granting of the right to local self-government bodies to choose the purpose of land plots themselves.

He signed the corresponding bill No. 2194 during the Ukraine 30. Earth All-Ukrainian forum on April 24.