Over the four years of the market in Ukraine, more than 830 thousand hectares of agricultural land have been sold

In Ukraine, during the operation of the agricultural land market (since July 2021), almost 371.3 thousand land purchase and sale agreements were concluded for a total area of 832.4 thousand hectares, KSE Agrocenter experts report in an analytical review of the Ukrainian land market, prepared jointly with the USAID Agrarian and Rural Development Program (AGRO).

"The average monthly cost of a hectare in 2023 was 37.1 thousand UAH, in 2024 it increased by 19.4% to 44.3 thousand UAH, and in the first half of 2025 it increased by another 13.3% to 50.2 thousand UAH. In May, the weighted average price of a hectare reached a record 52.1 thousand UAH, and this indicator is a record not only in the national currency, but also in US dollars," the experts add.

The weighted average price of all land according to the results of the first 5 months of 2025 was $1,255/ha, and for the so-called "commodity land" it reached $1,305/ha, which exceeds the cost of agricultural land even at the time of market opening, despite the depreciation of the national currency.

Due to the increase in the value of agricultural land, market capitalization has significantly increased. Thus, from December 2024 to May 2025, the capitalization of the agricultural land market increased by UAH 277.6 billion, which increased the value of the asset for landowners, as well as the potential amount of credit that farmers could attract against the collateral of agricultural plots. As of the end of May 2025, the total capitalization of the agricultural land market in Ukraine reached UAH 2,154 billion, or $ 51.9 billion. Naturally, prices in Ukraine differ significantly depending on the region.

A large proportion of transactions are consistently concluded at a price close to the NGO (normative monetary valuation of a land plot, the minimum sale price for former moratorium lands). Thus, in 2023, almost 54% were concluded at a price that was no more than 2% higher than the NGO.

“This indicator is gradually decreasing. In 2024, the share of such transactions was already 47%, and in 2025 - 44%. The reduction in the share of transactions concluded at a price close to the NGO may be due to the increased activity of legal entities, which on average pay higher prices for agricultural land compared to individuals - buyers of agricultural land. Therefore, the actual market prices for land may be higher than those given in the report,” the analysts add.