Language:
English
Pages:
1 Online-Ressource (41 pages)
Parallel Title:
Erscheint auch als Deininger, Klaus Land and Mortgage Markets in Ukraine: Pre-War Performance, War Effects, and Implications for Recovery
Keywords:
Agricultural Land Sales
;
Agricultural Production
;
Communities and Human Settlements
;
Conflict and Development
;
Credit Market
;
Determinates of Land Price
;
Finance and Financial Sector Development
;
Impact of War on Markets
;
Land Governance Reform
;
Land Market
;
Post War Reconstruction
Abstract:
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
DOI:
10.1596/1813-9450-10385
