In 2025, Ukraine’s agricultural land market entered a phase of more mature and predictable dynamics. Despite the full-scale war, the segment remains functional and liquid, demonstrating a gradual increase in land values. At the same time, price dynamics remain uneven and are directly influenced by the security situation and the geographic location of assets, according to the press service of the Ministry of Economy, Environment and Agriculture of Ukraine.
From quantity to quality: how demand has shifted
At the initial stage of market opening, the size of land banks was the key factor driving investor interest. By 2025, however, the focus has decisively shifted toward land quality. Location, agro-climatic conditions, logistics, security risks, and legal clarity of assets have become critical. Farmland is increasingly viewed not as a speculative instrument, but as a long-term investment asset with predictable returns.
Transaction volumes and buyer structure
From January through mid-December 2025, a total of 115,600 land plots with a combined area exceeding 340,000 hectares were sold in Ukraine.
Legal entities acquired 43,012 plots covering 128,212 hectares, paying an average of UAH 74,323 per hectare. Private individuals, in turn, purchased 72,597 plots with a total area of 211,962 hectares at an average price of UAH 47,246 per hectare. This price gap reflects companies’ focus on larger land tracts with better characteristics and locations in more stable regions.
Geography of prices: West and Center rise, frontline regions lag
The highest agricultural land prices in 2025 were recorded in Ukraine’s western and central regions. Ivano-Frankivsk region remains the leader, with prices reaching UAH 165,615 per hectare. In Ternopil region, prices climbed to UAH 126,068 per hectare, while in Lviv and Vinnytsia regions they consistently exceeded UAH 80,000–100,000 per hectare.
By contrast, frontline regions — Kherson, Mykolaiv, and Zaporizhzhia — remain the cheapest. Prices there range between UAH 35,000 and 38,000 per hectare, reflecting elevated security risks, limited cultivation opportunities, and uncertainty regarding long-term asset use.
The market remained liquid despite the war
According to Deputy Minister of Economy, Environment and Agriculture Denys Bashlyk, in 2025 the agricultural land market demonstrated its ability to adapt to wartime conditions. It preserved liquidity, showed steady price growth, and formed a structured demand profile, indicating the market’s gradual maturation and rising investor confidence.
Historical context: from boom to stabilization
Following the market launch in July 2021, activity was exceptionally high, with more than 2,000 transactions per month and an average price of UAH 95,700 per hectare, according to Opendatabot research. By December 2021, however, the initial surge faded and prices fell to UAH 33,700 per hectare.
After the outbreak of the full-scale war in 2022, the market nearly came to a halt, with only 323 transactions recorded in May. Recovery began in the summer of 2022, but volumes remained low — up to 4,600 transactions per month, three times less than at the end of 2021.
In 2023, the market entered a stabilization phase: monthly transaction volumes increased to 4,000–7,000, while the average price rose from UAH 39,000 per hectare at the beginning of the year to UAH 42,000 by year-end. In 2024, the market opened to legal entities, but the expected surge did not materialize — analysts attribute this to restrictions on companies with foreign ownership.
At the same time, from March 2024 onward, monthly transaction volumes consistently exceeded 9,000, with total deal value surpassing UAH 1 billion per month. Prices per hectare in 2024 fluctuated within the range of UAH 43,000–52,000.
Investment and outlook for 2026
Over four years of market operation, Ukrainians have invested more than UAH 30.4 billion in agricultural land. The Ministry of Economy expects that in 2026 the key drivers of market development will remain the security situation, regional characteristics, and the investment attractiveness of specific land plots. The market is becoming increasingly segmented, while high-quality land in safer regions is gradually turning into a scarce asset.
