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Land and Mortgage Markets in Ukraine : Pre-War Performance, War Effects, and Implicationsfor Recovery

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  • Deininger,Klaus W.
  • Ali,Daniel Ayalew

Abstract

Almost throughout Ukraine’s independent history, agricultural land sales wereprohibited. 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 todescribe 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 withprices some 15–20 percent lower even after the invasion, with little sign of speculative land acquisition. Mortgagemarket activity and credit access remained below expectations. The paper discusses reasons and options foraddressing them in a way that also factors in the needs of post-war reconstruction.

Suggested Citation

  • Deininger,Klaus W. & Ali,Daniel Ayalew, 2023. "Land and Mortgage Markets in Ukraine : Pre-War Performance, War Effects, and Implicationsfor Recovery," Policy Research Working Paper Series 10385, The World Bank.
    • Handle: RePEc:wbk:wbrwps:10385
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    File URL: http://documents.worldbank.org/curated/en/099313403282335729/pdf/IDU0d9df3fc405426048e409c890d89a35330c5f.pdf
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    References listed on IDEAS

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    1. Nicolas Berman & Mathieu Couttenier & Raphael Soubeyran, 2021. "Fertile Ground for Conflict," Journal of the European Economic Association, European Economic Association, vol. 19(1), pages 82-127.
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    1. Deininger, Klaus & Ali, Daniel Ayalew & Fang, Ming, 2025. "Impact of the Russian invasion on Ukrainian small and medium farmers’ productivity," Land Use Policy, Elsevier, vol. 148(C).

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