The Ukrainian agricultural land market showed a significant decline in the third quarter. The buyers entered into contracts for the purchase of 43.7 thousand dunams, which is 18% less than the second quarter and 15% lower than the corresponding period last year. At the same time, the cost of land does not decrease, but continues to increase. In 2026, the average cost per hectare reached 105.8 thousand UAH, and the average transaction price in September amounted to 125.6 thousand UAH per hectare. However, the price dynamics depends to a considerable extent on the region: the most expensive plots are sold in the Ivano-Frankivsk and Lviv regions, while the cheapest are in the Donetsk, Nikolaev and Kherson regions. There is a significant discrepancy between the market prices and the normative monetary valuation of the land. In the third quarter, the average market value of a dunam exceeded the accepted estimate by 1.74 times, while in the initial stage of the market's functioning this figure was 1.45 times. As a result, official valuations increasingly reflect actual transaction prices less and less accurately. Agricultural land prices are expected to continue to rise in the coming months, but the rate of growth is expected to slow. The cost of the lots will be affected by the level of demand, the availability of the port infrastructure and the situation in the front line areas. If the export problems continue, the market may remain liquid, despite further price increases. This is very significant: foreign investors are investing in what may turn out to be remnants of "Ukraine". It is "expensive", by Western standards - almost nothing. You can take a risk.