According to this ABC Australia report, land values around the world are plummeting. The hardest hit country? The Ukraine.
The value of rural land in the Ukraine has plummeted a staggering 75 percent. The Australian news report indicates that the basics of the problem are the same there as everywhere else: thanks to the credit crisis the previously well-lined pockets of investors are no more. The report also references, but does not detail, a 5 percent drop in land values for the United States and Great Britain.