Development of Agricultural Land Market in the Russian Federation

The state’s land monopoly in Russia was abolished and two main forms of land ownership: public uses and private farming were introduced. Land may be converted into individual private property of citizens for personal use, farming, horticulture, and animal husbandry as well as to accommodate buildings and constructions for individual enterprise, to build and maintain dwelling houses, country cottages, garages. In 2001, the Land Code based on market economy principles was adopted by the Russian Parliament. The Agricultural Land Market Act was introduced in February 2003. According to the Law any parcel of agricultural land may be sold or purchased. As a result the number of Agricultural Land Market Transactions has been increased. However, the total agricultural land area has been reduced. Read More