The agricultural land market in Ukraine grew by more than 30% in 2024

In July 2024, the volume of the agricultural land market in Ukraine grew by 10.2% compared to June in terms of the number of concluded agreements and by 4.3% in terms of the area of land in circulation, KSE Agrocentr analysts report.

The area of land in circulation in July was 30.4% higher than the monthly average of 2023, and land prices reached a record level after a slight drop in May-June.

The average purchase price per hectare of land in July was UAH 46,000, which was 4.5% higher than in June and 1.5% higher than in May. Since January 1 of this year, when the market opened for legal entities, the prices of agricultural land have increased by 24%, in particular, the so-called "commodity" land - by 19%.

During this period, 953 legal entities used the right to buy and sell land, which purchased 8,849 plots with a total area of 26,200 hectares, in particular, in July 363 companies (the highest monthly figure this year) purchased land with an area of 4,700 hectares, which is a 5% increase exceeds the June figure.

The share of legal entities in the land market for the first 7 months of 2024 was 18.8%, while in June it reached 23.8%, and in July - 24.1%.

"Considering the fact that in Ukraine 23.5 thousand agricultural producers grow grain and leguminous crops, and 18.5 thousand agricultural producers - sunflower, the share of yurosibs in the land market has the potential to increase," KSE Agrocenter notes.