Since 2024, a new stage of land reform has begun, legal entities will be able to buy agricultural land, while this volume is limited to 10,000 hectares.
This is stated in the text of Law No. 552-ІХ, Ukrainian News Agency reports.
From July 2021 until 2024, only individual citizens of Ukraine could buy agricultural land with an area of up to 100 hectares.
Since January 2024, the norms of Law No. 552-ІХ "On Amendments to Certain Legislative Acts of Ukraine on the Conditions for the Circulation of Agricultural Land" came into force.
According to them, it was established that since January 1, 2024, the total area of agricultural land plots owned by a citizen cannot exceed 10,000 hectares, the property of a legal entity (except banks) cannot exceed the total area of land plots that can be owned by all its participants, but not more than 10,000 hectares.
Foreigners are forbidden to buy shares in authorized capital, shares, stakes, membership in legal entities (except in the authorized capital of banks) that are owners of agricultural land, until the rest is decided by citizens of Ukraine during a referendum.
In addition, it is forbidden to sell land of state and communal property.
Until January 1, 2030, the sale price of land plots allocated in kind to owners of land shares cannot be less than their normative monetary value.
According to KSE Agrocenter, since the launch of the land market as of December 1, 2023, 187,700 purchase-sale transactions have been concluded with a total area of more than 412,600 hectares, which is 0.99% of all agricultural lands of Ukraine.
At the same time, as of December 1, 2023, the weighted average price of purchase and sale of an agricultural land plot amounted to UAH 36,187 per hectare.
As Ukrainian News Agency earlier reported, as of the beginning of October, compared to the same period last year, the average price for 1 hectare of land for commercial agricultural production decreased by 9% to UAH 35,300.
From July 1, 2021, the law on the launch of the land market came into force.
During the first year of the land market operation, more than 105,000 transactions were concluded, including 88,000 land purchase and sale transactions with a total value of more than UAH 7 billion.
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