Verkhovna Rada of Ukraine plans to adopt a law on the land market within one month. Such statement was made at the meeting by the head of the Verkhovna Rada Committee on Agrarian Policy and Land Resources, from the faction "The Party of Regions" Grigori Kaletnik."We expect that the law of the land market will be passed within a month. At this stage, we study the document and prepare it for the first reading and committee shall make a decision no later than September 20."

During August Verkhovna Rada Chairman Volodymyr Lytvyn stated that the key issue that will be considered for the then upcoming parliamentary session will be the law of the land market. On August 2, 2011 President of Ukraine Viktor Yanukovych signed a bill of Ukraine No 3613-VI “On State Land Cadastre”. This document is considered an important prerequisite for the introduction of land market in Ukraine.

At the same time the Minister of Agricultural Policy and Food of Ukraine Mykola Prisyajnyuk stated that in order to complete the land reform bills "About Land Cadastre" and "About Land Market" are required as well as, "About the consolidation of agricultural land" and "About the fertility of agricultural lands."

Starting January 1, 2012 law on the sale of agricultural land loses its legal power. Thus, it was stated that the law “About the land market” has to be signed by that date. Experts expect that the biggest debate in the discussion concerning adoption of the law "About the Land" will cause a fair share of questions on turnover of agricultural land and the issue of land consolidation.

Today the average cost per hectare of land in Ukraine is 1.5K USD (11.4K UAH) despite the fact that the world's lowest price of land is 3.5 K USD (28K UAH). According to agricultural experts, after the introduction land law full market price of land per hectare may amount to a maximum of 15K UAH.

UAIndex