Sales of most farm land in Ireland are fetching between €10,000 to €14,000 per acre.
According to auctioneers, reported hotspots with development potential near towns and good land in West Cork are making €14K to €20K an acre.
Factors driving demand include the dramatic increase in the number of people working remotely on a permanent basis over the past eighteen months.
Auctioneers all over the country said the pressure point is on rural houses with a small curtilage of a few acres.
With pressure on the land market and slow supply of land coming on the market many residential farms are being broken into lots for sale.
Grassland, tillage land and equestrian acres remain desirable along with increasing demand for land in Munster.
Trevor McCarthy of Cork-based Irish & European claimed land prices are regularly hitting €14,000 to €16,000 per acre and said: “We think that there’s a lot of positivity out there in the agri-land market.”
Land in south Tipperary is also reaching between €10,000 and €15,000 per acre, with exceptional properties making in the region of €20,000.
Eamonn McQuinn of McQuinn Consulting in Tralee said it has been the best 18 months that he has seen in a long time.
“It’s a very buoyant market compared to previous years. There’s certainly a healthy appetite for land in Kerry.”
One of the reasons for holdings being much slower to come to market is the end of the Early Retirement Scheme. Many older farmers who might have retired earlier are now retaining holdings and leasing them out.
LSL NEWS.