The capitalization of the land market increased by ₴115.1B last year.

Since the beginning of 2023, the average weighted price for agricultural land has increased by 10.4% to ₴38,500 per hectare ($1,015). It is noted that during the period of market operation, 1% of land was sold, of which 99.5% remained in use.

According to the Ministry of Agrarian Policy, thanks to the possibility of renting communally owned agricultural land through Prozorro.Sales, local budgets receive ₴355.2M of income annually. The circulation and use of agricultural land brings communities an average of 10-12% of their total budget.

On January 1, 2024, a new stage of land reform began, where legal entities have received the right to purchase agricultural land. Buyers can only purchase private land plots with a total area of no more than 10,000 hectares.

The ministry emphasizes that the second stage of land reform will increase the value of privately owned land and landowners’ income.