The land market has lost UAH 11.5B since the war began.

Since the start of the war, the Ukrainian agricultural land market has lost UAH 11.5B. Opening the market for legal entities in 2024 could bring an additional 1%-2.7% of GDP annually during the next three years, says a study by KSE. Due to the full-scale Russian invasion, more than 102,000 agricultural land purchase and sale agreements with a total volume of 282,000 hectares and a value of UAH 11.5B ($312M) were not concluded, which is 0.2% of the country’s GDP.

The land market in the Kharkiv region, which was the leader in the share of agricultural land, suffered the greatest losses with more than UAH 2.7B ($75M). Almost UAH 1.17B ($232M) was lost in the Kherson region land market. The smallest market losses are observed in the western areas of Ukraine.

At the same time, according to the results of the first half of this year there is recovery in all regions, except the temporarily occupied regions, and the volume of transactions in Zakarpattia, Ivano-Frankivsk, and Chernivtsi regions has exceeded 2021 indicators (+16%, +22%, and +10%, respectively).