Over 43% of farmland sold in 2022 was bought by business people, up from just 18% in 2018, the Irish Farmers Journal’s annual Agricultural Land Price Report 2022 has revealed.
The farmland market had a buoyant 2022 with both supply and prices up.
The number of farms on the market was up, the number of acres for sale was up and the amount of land sold was up. The average price increased by almost 3% – over 12,000 euro per acre.
The province with the most expensive land is Leinster where the average is almost 14,000 euro /ac. Connacht land comes in lowest - with an average of just over €8,000/ac.
However, the biggest increases in farmland prices in 2022 were in Mayo (up 78%), Carlow (up 28%), Galway (up 22%), while among the biggest decreases was Sligo down 11%.
More details in the Irish Farmers Journal.