Mykolaiv region among the regions with the lowest land prices

Mykolaiv region among the regions with the lowest land prices, photo: Kurkul

According to the Ministry of Agrarian Policy, the average cost of 1 hectare of agricultural land in Mykolaiv region is 34,033 hryvnias, which is one of the lowest prices in Ukraine.

A similar situation is also observed in Zaporizhzhia (₴33,981) and Sumy (₴34,936) regions, the press service of the Ministry of Agrarian Policy said.

Instead, the highest average price per hectare was recorded in Ivano-Frankivsk (₴89,744), Lviv (₴71,390) and Poltava (₴66,232) regions.

It should be noted that the moratorium on the sale of agricultural land was lifted on 1 July 2021. Since then, 604 thousand hectares of land (198,337 plots) have been sold in Ukraine by December 2024. The sales volume in 2024 exceeded the cumulative figures for the first 2.5 years after the moratorium was lifted.

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Legal entities acquired 78,307 hectares at an average price of ₴62,656 per hectare, while individuals bought 242,353 hectares at an average price of ₴41,510 per hectare. Overall, the average land price in Ukraine was ₴46,678 per hectare ($1,163).

Mykolaiv region remains a region where land prices are affordable, which creates additional opportunities for the development of the agricultural sector.

In September 2024, NikVesti reported that Mykolaiv had reduced the rental rate from 3% to 1% for communal land for developers and entrepreneurs affected by the war. The decision was made on 26 September at a session of the Mykolaiv City Council.

As a reminder, in May 2024, Mykolaiv entrepreneurs addressed the editorial office of NikVesti, asking the authorities to review tax rates and reduce the rent for land use by 50% to enable them to conduct trade. In addition, deputies were also asked to reduce the rent for land used by the Ministry of Defence.

In June, members of the City Council's Legislative Committee supported this initiative. The Department of Finance was instructed to prepare amendments to the existing draft decision on determining the amount of land rent and to amend the rate to replace 3% with 1% for land under construction.

In addition, on 1 October 2024, Ukraine launched the first online auctions under the project «Land Bank», which provide an opportunity to lease state land. In Mykolaiv region, 142 land plots with a total area of 19,738 hectares are up for auction.