New data has revealed that the price of Irish agricultural land is the fourth highest in the EU.
Only the Netherlands, Luxembourg and Italy have higher prices for farming land.
One hectare of arable land in Ireland cost an average of €25,724 last year, according to figures published by the European Commission.
The European Commission said land prices depended on a number of factors including climate, proximity to networks, soil quality, slop and drainage in addition to supply and demand and national legislation.
At a regional level, the most expensive farming land in the EU is on the Canary Islands at €120.477 for 1 ha of arable land.
Arable land was more expensive than permanent grassland in all 27 EU member states.
The report found that prices for permanent grassland were higher in the Southern region of Ireland at €20,774/ha last year – the third most expensive region in the EU.
Prices in the Eastern and Midland region were €17,980 compared to €9112 in the Northern and Western region.
LSL News.