According to industry experts, the price of land at the beginning of trade in Ukraine’s agricultural land market in 2021 was ₴32,972 per hectare, roughly €1,000 at the 2021 exchange rate. Despite the war, market volume has increased by 200% over the past 3.5 years.
During this time, official statistics indicate that the average cost rose to ₴46,683 per hectare by the end of 2024 – an increase of 41.6% in hryvnia (about 11.9% per year). In terms of euros, the growth is smaller – only 8.66% for the entire period, or 2.47% per year (based on the exchange rate at the end of 2024).
However, official statistics do not reflect actual market activity. Land prices exceed $3,000 per hectare in the highly competitive central regions. According to global accounting standards, the fair value of a hectare in Ukraine ranges from $1,667 to $2,500 in the northern areas and from $2,500 to $5,000 in the central regions and near ports. These figures were confirmed by the IVSC, ranging from $1,500 to $2,500 per hectare.