In 2001, Ukraine introduced a ban on the sale of land. And the whole country held its breath in anticipation of land reform. 20 years have passed and this day has come: in March last year, the Verkhovna Rada of Ukraine adopted the long-awaited Law, the purpose of which is to launch the circulation of agricultural land in Ukraine.
The law came into force on July 1, 2021. Now individuals can both buy land, and sell your land, although not quite freely. There are still a number of restrictions on the market. Ukrainians can buy no more than 100 hectares. The restrictions will be lifted gradually, and starting from January 1, 2024, legal entities of Ukraine will be able to acquire land, but also with a restriction - up to 10 thousand hectares.
In Ukraine they cannot buy land:
- Foreigners;
- stateless persons;
- legal entities owned by foreigners.
Ukrainian land is a very tempting resource for foreigners. But they will have to wait for an all-Ukrainian referendum, which should take place no earlier than 2024. However, not everything is simple here either. Even after a decision is made in a referendum, foreign legal entities and citizens will not be able to buy a land plot located closer than 50 km from the state border.
How to buy a land plot and how much does it cost?
The land market is an opportunity for active development for everyone. However, in Ukraine there is a rather contradictory situation. According to opinion polls, the vast majority of current shareholders do not plan to sell their plots. Why is there an imbalance between supply and demand? The fact is that only Ukrainians as individuals have the right to purchase land. The ban on the acquisition of land for foreigners and legal entities reduces its value. By the way, if you decide quickly buy an apartment in Kyiv, we recommend contacting the best luxury real estate agency THE Capital.
Because of this circumstance, land owners cannot derive any benefit and they have only one thing left to do - wait until at least legal entities and an increase in the market price are allowed to purchase. Only then will the owners be able to sell the land at a fair price. After the launch of the market, the average cost of a hectare of land in Ukraine fluctuates within 30 thousand hryvnias. In ten years, Ukrainian land will be worth hundreds of billions of dollars in total. And, of course, a few questions arise:
- Do many Ukrainians have enough funds to buy land today?
- How to buy a land plot profitably?
It is difficult to say how our citizens are doing with finances, but there are more than enough people who want to become the owner of land plots. Ukrainians view the purchase of land primarily as a potentially profitable investment asset. Even in 20 years of the existence of the moratorium on the sale of land, our people have not lost their entrepreneurial streak. However, there are not many who are competently grounded in investment and purchase of land.
How to buy a land plot correctly?
Buying land is a multifaceted process. Having decided to buy a land plot for the construction of a house, not everyone understands what difficulties they will face. Here it is important to take into account many points, from the state's plans for land to the prospects for the development of the area, infrastructure, and geological indicators.
Read more:: Power of attorney for the sale of the apartment.
If you want to figure out on your own the issue of how to buy and register a land plot, we advise you to be patient, keep your eyes open and keep your eyes peeled. The fact is that finding a suitable piece of land can take days, weeks and even months. After selecting 10-15 options, you need to visit each of them to make sure that they meet the requirements. Most buyers, as a rule, pay attention to the specific characteristics of the land, and do not take into account a number of factors that will affect the future quality of life in the house. These factors include:
- The location and characteristics of the land - a village or a cottage settlement, a river, a forest, etc.
- Transport accessibility - the nearest highway and its capacity.
- Social infrastructure - are there shops, hospitals, schools within reach.
- Features of the site - the level of groundwater, the presence of wastelands, landfills, abandoned construction sites and hazardous industries nearby.
As you can see, there are a lot of nuances. And this is just the beginning! A rather lengthy registration procedure awaits you.
Read more:: Taxes when buying an apartment.
How to buy and register a land plot?
When registering a land plot, the seller and the buyer must submit the following documents:
- passports of all parties to the transaction;
- application;
- contract of sale;
- the consent of the seller's spouse;
- title documents for a land plot;
- receipt of payment of state duty;
- act of acceptance and transfer of land.
After checking the documents, you can register the land.
Preparing documents, meeting with a huge number of employees in various inspections, obtaining various permits can be torture for a person who wants to complete the necessary documents on time, but does not know all the intricacies of the land registration process. At this stage, the help of specialists would be oh so useful. Professionals can help you avoid wasted time and unplanned waste.
They know how to safely buy a land plot, and also take care of all the paperwork. If you do not have the opportunity to independently verify all the data, it is best to contact a professional lawyer and realtor. Subscribe to our updates real estate blog and get the latest publications from the real estate agency THE Capital.
