Unprecedented Surge in Irish Agricultural Land Prices
Dublin: The cost of agricultural land in Ireland has reached an all-time high, with an acre of land fetching a record €15,223. This surge is attributed primarily to a scarcity of available land, exacerbated by adjustments made by dairy farmers to comply with the terms of the Nitrates Directive.
Details from the auction of 135 farms reveal regional variations in land prices, with Munster leading at €17,377 per acre, followed closely by South Leinster at €17,069. North Leinster recorded land prices at €14,008 per acre, while Connacht/Ulster experienced a notable 35% increase, reaching €9,343 per acre.
The Greater Dublin area has witnessed a substantial reduction in land supply for solar farms, particularly in Meath, where 5,000 acres have been earmarked for such projects. Contributing factors to the escalating land prices include the allocation of land for solar farms, with a particular focus on Meath, alongside Property Refurbishment Grants and SEAI Grants, offering up to €97,000 for unused homes.
Statistics indicate a 22% decline in auctioned land and a corresponding 22% decrease in income in South Leinster. The total land sold in the auction amounted to 6,691 acres, representing a 7% reduction compared to the previous year’s sales. Notably, the majority of farms sold were of medium size, with most comprising less than 100 acres, while only three exceeded 200 acres.
Irish Samachar English News
Kindly click the link below to join WhatsApp group chat to get important news and breaking news from Irish Samachar.
Comments are closed.