Author to land market law projected price upon market opening
The average price of land in Ukraine will be USD 1-1.5 thou. per hectare upon launching the land market since July 1, 2021. This was stated by Mykola Solskiy, the Chairman of the Parliamentary Committee on Agrarian and Land Policy and one of the authors to the land market bill, in the interview with AgroPolit.com.
"The land selling price will vary within plus 10-30% to the normative monetary valuation. That is, the average cost of 1 hectare of land in Ukraine will be USD 1-1.5 thou.," he said.
He noted that all those who cultivate the land will be buyers. And in the current situation, 1-2% of the land will be marketed.
"First of all, lands under emphyteusis will be redeemed, that is, these contracts will be transformed into contracts for the purchase of land. Instead of grey mechanisms, transparent contracts will be formalized. Within the first two years after the launch of the market, 1.6 mln ha of land can be bought out. These are emphyteusis contracts and long-term leases," commented Mykola Solskiy.
Learn more: Ukraine's Land Market Bill Adopted: Key Provisions
As a reminder, the Verkhovna Rada of Ukraine (Parliament) adopted the Draft Law No. 2178-10 "On Amendments to Certain Legislative Acts of Ukraine Regarding the Turnover of Agricultural Land" in the second reading. The relevant decision was supported by 259 MPs.