A New Life for State Property: Property Price Rises More Than 23-Fold at Auction

The State Property Fund of Ukraine successfully conducted an online auction via the “Prozorro.Sales” electronic trading system for the privatization of an administrative building with outbuildings in the Kirovohrad region.

Starting price: UAH 120,059.

Eleven participants competed for the right to purchase the property.

As a result of intense competition, the final price rose to UAH 2,800,100.

This means the property’s value increased more than 23-fold compared to the starting price.

After full payment, the auction winner will receive an administrative building with a total area of 482.9 m² along with an annex, a garage, as well as a bridge, paving, and a fence. The property has been unused for a long time, but now has the chance to be repurposed through privatization.

This opens up opportunities for renovating the property, implementing an investment project, and effectively utilizing the property in accordance with the new owner’s needs and the requirements of current legislation.

In addition to the final lot price, the auction winner will also pay 20% VAT, which will provide additional revenue for the state budget.

Every successful auction means not only new opportunities for investors but also a new lease on life for state assets, effective property management, and additional resources for the development of Ukraine’s economy.