Over 1.2 Million Hectares of Land Sold in Ukraine in Five Years: A Look at Price Trends.

Land Market Activity During the First Phase of Agricultural Reform

According to Слово і Діло — Інфографіка: Ukraine’s long-standing ban on land sales, introduced back in 2001, was finally lifted on July 1, 2021. This pivotal move marked a major step in the country’s land reform, reshaping legislation and opening up the agricultural land market. Under the updated Land Code of Ukraine, only citizens with agricultural experience or relevant education were initially allowed to purchase farmland. To ease the transition, a cap of 100 hectares per buyer was set for the period leading up to January 1, 2024.

In July 2021 alone, more than 3,000 transactions were completed, covering a total of 4,700 hectares. The average price per hectare during that month reached 87,900 Ukrainian hryvnias. However, prices dropped sharply by August 2021 to 43,600 hryvnias per hectare, and further declined to 33,200 hryvnias by February 2022. By the end of 2021, the total area of agricultural land sold had climbed to 56,500 hectares.

Throughout 2022, some 137,000 hectares of farmland changed hands. This figure rose to 229,800 hectares in 2023. During that year, the average price per hectare fluctuated between 36,900 and 43,800 hryvnias. In 2024, prices remained above 42,400 hryvnias per hectare, and the total sold area reached 317,200 hectares.

Land Market Dynamics in the Second Phase of Reform

Starting January 1, 2024, Ukrainian legal entities were granted the right to purchase land, and the maximum allowable plot size expanded to 10,000 hectares. In 2025, the average price per hectare never fell below 53,600 hryvnias, with sales totaling 350,800 hectares. By January 2026, the average price had surged to 92,900 hryvnias per hectare, and during the first quarter of 2026, 70,700 hectares were sold.

Over the five years since the land market opened, more than 1,285,000 hectares have been sold through 596,000 separate land purchase agreements. This steady activity reflects the gradual maturation of Ukraine’s land market and its ongoing adjustment to evolving economic conditions.

Ukraine’s land reform, set in motion by the removal of the sales moratorium, has profoundly transformed the country’s agricultural sector. The shift to a land market has unlocked fresh opportunities for farmers and investors alike, though it has also brought notable price volatility.