The Land Bank leased the plot for UAH 13 million, which became the most expensive lot since the start of the project

On Thursday, November 7, the Land Bank held 9 auctions for the lease of state lands with a total area of 1.1 thousand hectares for the amount of UAH 32.5 million. (+ UAH 5 million VAT). This was reported by the Minister of Agricultural Policy of Ukraine V. Blacksmith.

The price of sublease of land increased by 8.3 times. The top offer was a plot of land in Kirovohrad region with an area of 514.8 hectares, for which 10 participants competed, and the final bid reached UAH 13.2 million, which became the most expensive lot since the beginning of the Land Bank.

On November 8, auctions for leasing state agricultural land in Kyiv, Vinnytsia, and Kirovohrad regions are scheduled.

We will remind that on October 1, 14 participants competed for a plot of rural land in Vinnytsia with an area of 115 hectares at the auction, and the final rental rate was UAH 3 million. And on October 17, the Land Bank held 7 auctions for the sublease of state agricultural lands in the Volyn, Lviv, and Cherkasy regions, which replenished the budget by UAH 21.3 million. (+ UAH 4.2 million VAT).

The value of agricultural land in Ukraine has been increasing since the opening of the land market on July 1, 2021, however, after the opening of the market for legal entities on January 1, 2024, the increase in prices accelerated.

The greatest interest in agricultural lands is observed in the central regions. Thus, in Vinnytsia and Khmelnytskyi, prices reached a maximum of $3,100/ha in 2024, and the average plot price is $1,900-2,100/ha.

The largest number of agreements is currently concluded in Sumy, Poltava, Khmelnytskyi, Vinnytsia and Chernihiv regions.

The highest prices were recorded in Ivano-Frankivsk region (111.7 thousand UAH/ha), in Kyiv region - 92.2 thousand UAH/ha, and in Lviv region - 91.3 thousand UAH/ha.

However, official data on the value of land can only be evaluated in relative terms, as a general trend, since real market prices can be 30-40% higher than the declared ones. Experts believe that only 19% of sales transactions record the actual price. And the requirement to confirm sources of income creates problems for some buyers.