In 2001, a ban on the sale of land was introduced in Ukraine. And the whole country held its breath in anticipation of the land reform. 20 years have passed and this day has come: last March, the Verkhovna Rada of Ukraine adopted the long-awaited Law, the purpose of which is to start the circulation of agricultural land in Ukraine.
The law entered into force on July 1, 2021. Now natural persons can as buy a plot of land, and sell their land, although not quite freely. There are still a number of restrictions on the market. Ukrainians can buy a little more than 100 hectares. The restrictions will be gradually lifted and from January 1, 2024, legal entities of Ukraine will be able to purchase land, but also with a limit of up to 10 hectares.
The following cannot buy land in Ukraine:
- foreigners;
- stateless persons;
- legal entities owned by foreigners.
Ukrainian land is a very attractive resource for foreigners. But they will have to wait for the all-Ukrainian referendum, which should take place no earlier than 2024. However, it is not easy here either. Even after the referendum decision, foreign legal entities and citizens will not be able to buy a plot of land located closer than 50 km from the state border.
How to buy a plot of land and how much does it cost?
The land market is an opportunity for active development for everyone. However, a rather contradictory situation is observed in Ukraine. According to sociological surveys, the vast majority of current owners of units do not plan to sell their plots. Why is there an imbalance between supply and demand? The fact is that only Ukrainians as natural persons have the right to purchase land. The ban on the purchase of land for foreigners and legal entities reduces its value. By the way, if you decide to quickly buy an apartment in Kyiv, we recommend contacting the best elite real estate agency THE Capital.
Due to this circumstance, the land owners cannot get any benefit and they have only one thing left to do - to wait for at least legal entities to allow the purchase and the increase in the market price. 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. And, of course, several questions arise:
- Today, many Ukrainians have enough money to buy land?
- How profitable is it to buy a plot of land?
It is difficult to say how our citizens are doing with their finances, but those who want to become the owner of land - at least I'm sorry. Ukrainians consider the purchase of land primarily as a potentially profitable investment asset. Even during the 20 years of the moratorium on the sale of land, our people have not lost their entrepreneurial spirit. However, there are not so many competently versed in the issues of investing and buying land.
How to buy a plot of land?
Buying land is a multifaceted process. Having decided to buy a plot of land for the construction of a house, not everyone understands what difficulties they will have to face. Here it is important to take into account many points, from the state's plans for the land to the prospects for the development of the area, infrastructure and geological indicators.
See also: Power of attorney for the sale of an apartment.
If you want to figure out how to buy and arrange a plot of land on your own, we advise you to be patient, keep an ear sharp and keep an eye on everyone. The fact is that finding the right piece of land can take days, weeks, and even months. After selecting 10-15 options, it is necessary to visit each of them to ensure 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 further quality of life in the house. These factors include:
- The location and features of the land - a village or a cottage village, a river, a forest, etc.
- Transport availability — the nearest highway and its capacity.
- Social infrastructure - are there shops, hospitals, schools within reach.
- Features of the site are the level of groundwater, the presence of vacant lots, landfills, abandoned construction sites and harmful industries nearby.
As you can see, there are many nuances. And this is just the beginning! A rather lengthy registration procedure awaits you.
See also: Taxes when buying an apartment.
How to buy and arrange a plot of land?
When registering a land plot, the seller and the buyer must submit the following documents:
- passports of all parties to the agreement;
- statement;
- Sales contract;
- consent of the seller's husband;
- title documents for the land plot;
- state duty payment receipt;
- 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 issue the necessary documents on time, but does not know all the intricacies of the land plot registration process. At this stage, the help of specialists would be so useful. Professionals can help avoid wasted time and unplanned expenses.
They know how to safely buy a plot of land, and also take care of all the paperwork. If you do not have the opportunity to check all the data yourself, it is best to contact a professional lawyer and realtor. Subscribe to our real estate blog updates and get the latest posts from THE Capital real estate agency.
