Kyiv region to drastically rise rent for idle farm land

Kyiv, September 15 (Interfax-Ukraine) – Kyiv region's authorities are initiating a drastic rise in the rent for agricultural land that is lying fallow," head of Kyiv Regional Administration Anatoliy Prysiazhniuk said.

"They will have to pay more – up to 12% (of the sum fixed through pecuniary valuation), while today some pay a mere 0.5%," he said at a press conference at Interfax-Ukraine in Kyiv on Wednesday.

Re-assessment of the region's land is currently under way, he added.

Prysiazhniuk noted that businessmen were actively buying and leasing land in Kyiv region several years ago, hoping for its high liquidity and a further increase in value. The authorities will be pressing for the return of that land to agricultural use again, he said.