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Extension of moratorium for agricultural land sales will decelerate growth of land prices in Ukraine - expert
Extension of moratorium for sale of the lands, destined for agricultural use, will inhibit the growth of land prices, the Head of Land Market Department at the State Committee for Land Resources Stanislav Horbatovych said on October 7.
On October 6 Verkhovna Rada (Parliament of Ukraine) adopted a new version of the law about amendments into the Land Code of Ukraine, extending moratorium for sales of the land, destined for agricultural use, until January 1, 2008.
According to Horbatovych, during the last 5 years the prices for land in Ukraine have been steadily growing. "The moratorium will retard the price growth, but the upward trend will still remain", he said.
He said that it was difficult to forecast the price dynamics at the land market, as "many will depend on political factors". At the same time, he expressed an opinion that the law about extension of the moratorium would not probably be vetoed by President.