In Ukraine, a land auction was held for the first time as part of the “Land Bank” project. This was announced by the Minister of Agrarian Policy Vitaly Koval in his Telegram channel on October 1.
14 participants competed for a plot of land with an area of more than 115 hectares in the Vinnytsia region. The winner was the Hychak Ya.K. farm, which offered a rental rate of over 3 million hryvnias.
According to “Prozorro.Prodazhi”, this auction is only part of a larger plan. In total, on October 1, the State Property Fund held 16 land auctions, and by the end of the year, it is planned to put up almost 100,000 hectares of state agricultural land in 20 regions of Ukraine for electronic auctions.
We will remind that the first online auctions started on October 1 as part of the “Land Bank” project, which provides the opportunity to rent state lands.
The land market in Ukraine was officially opened on July 1, 2021. During the first two and a half years, only natural persons — citizens of Ukraine — could buy land, with a limit of 100 hectares per person. From January 1, 2024, Ukrainian resident companies also received the right to purchase agricultural land with a limit of 10,000 hectares in the same hands. The law prohibits foreigners from buying Ukrainian land.
