Land and Mortgage Markets in Ukraine
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World Bank, Washington, DC
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Almost throughout Ukraine’s
independent history, agricultural land sales were
prohibited. Measures to allow them and make land governance
more transparent in 2020/21 were expected to improve equity,
investment, credit access, and decentralization. This paper
draws on administrative data and satellite imagery to
describe land market performance before and after the
Russian invasion, assess changes in land use for transacted
parcels, and analyze determinants of land prices.
Agricultural land market volume soon exceeded that of
residential land and continued at a reduced level and with
prices some 15–20 percent lower even after the invasion,
with little sign of speculative land acquisition. Mortgage
market activity and credit access remained below
expectations. The paper discusses reasons and options for
addressing them in a way that also factors in the needs of
post-war reconstruction.
Palabras clave
LAND MARKET, CREDIT MARKET, IMPACT OF WAR ON MARKETS, AGRICULTURAL PRODUCTION, LAND GOVERNANCE REFORM, DETERMINATES OF LAND PRICE, AGRICULTURAL LAND SALES, POST WAR RECONSTRUCTION