The next stage of land reform implementation has begun in Ukraine. From January 1, 2024, the land market opened for legal entities, that is, for enterprises, institutions, societies, etc.
This is stated in Law of Ukraine No. 552-IX.
Land can be bought if all participants (shareholders or members) of the company are citizens of Ukraine. One company cannot buy an area of more than 10,000 hectares.
The state, territorial communities can also get the right to own land.
Land reform in Ukraine
Land reform in Ukraine began in 1990 with the adoption of the Decree of the Verkhovna Rada of the Ukrainian SSR "On Land Reform", but the land market was opened only in 2021. This included decentralizing land management powers, digitizing services, restoring irrigation and drainage systems, and combating land raiding.
From July 1, 2021 to December 31, 2023, only natural persons-citizens of Ukraine could buy land in the amount of no more than 100 hectares per person. From the beginning of 2024, legal entities will also receive such a right, and the permitted size will increase to 10,000 hectares. There are no restrictions on the upper limit of the price, but it is not possible to sell the land cheaper than the normative monetary valuation of the plot.
Foreigners do not have the right to buy Ukrainian land. This can be allowed only after approval in a referendum.
- As of July 2023, during the two years of the land reform, about 275,157 hectares were sold in Ukraine, i.e. 1% of all land. The average price for 1 hectare was about 39,000 hryvnias, but after the purchase permit for legal entities, the price will increase.