Business news from Ukraine

UKRAINIAN NOTARIES IN 2020 CERTIFIED 217,810 CONTRACTS FOR LAND PLOTS SALE

19 February , 2021  

Ukrainian state and private notaries in 2020 certified 217,810 contracts for the sale of land plots, which is 27.8% more than in 2019.
As reported on the website of the Ukrainian Agrarian Association, an increase in the number of contracts provoked the adoption on March 31, 2020 of a law on the conditions for the turnover of agricultural land, although this law will come into force only on July 1, 2021.
According to the association, in the fourth quarter of last year, almost 75,000 sale contracts were certified, while in the third – about 60,000, and in the second – about 45,000.
As the association said, a similar situation is with donation agreements, the total number of which in the past year, according to notaries, increased by 9.6%, to 55,980 and in the fourth quarter the number was close to 20,000.
The association said that in 2019 the number of contracts for the purchase and sale of land plots increased by 12.9%, and in 2018 – by only 1.2%, donation contracts – decreased by 1.1% (in 2018 it increased by 3.1%).
As reported, at the first stage of the law on the turnover of agricultural land – until December 31, 2023 – it will be allowed to sell land plots only to citizens of Ukraine in the amount of no more than 100 hectares per person, as well as exclusion for public needs and exchange of land plots with a difference of the normative monetary evaluation of no more than 10%.

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