THE average price for good quality farmland in County Donegal last year was €13,400 per acre, while it was €5,000 for poor quality land, according to a new report by the Society of Chartered Surveyors and Teagasc.
At €20,000 per acre, Co Waterford had the most expensive average price for high quality farmland in the country. Leitrim was the least expensive at €7,978. The lowest price paid for an acre was in Co Mayo where poor quality land cost €2,733.
In terms of monetary value, Donegal’s farmland per acre is doing quite well because the average price of good land across the country in 2023 was €12,308. However, Donegal’s so-called poor quality non-residential land is worth less than the national average of €6,286.
The SCSI/ Teagasc Agricultural Land Market Review and Outlook report for 2024 also shows that income from land leased for solar or wind energy is usually higher than income from traditional farming.
Just 0.5% of the total agricultural land in Ireland is put up for sale each year. It’s forecast the price of farmland will rise by 6% this year compared to last year’s 11%.
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