Farmland sales down in 2020

New figures from the Central Statistics Office show a notable drop in the volume of land sold in Ireland in 2020 compared to the previous year.

The CSO said 29,031 acres of land were sold at a median price of €6,992 per acre compared to 61,997 acres of land sold in 2019.

Today’s figures show the most expensive region to buy farmland was in the South East (Wexford, Carlow, Kilkenny and Waterford) where 2,093 acres of farmland sold for a median price of £10 €645 per acre.

Meanwhile, the West (Galway, Mayo and Roscommon) was the cheapest region to buy land where 6,412 acres of land sold for a median price of €4,625.

The CSO said the West had the highest volume of farmland sold at 6,412 acres, while the South West (Cork, Kerry) was the area with the lowest deal volume with 605 acres sold over the course of the year.

Today’s figures also show that the highest value of farmland sold in Ireland was in the Midlands, where more than €40m of land was sold in 2020.

The South West had the lowest value of land sold in 2020 with €4.45 million of land sold.

The CSO said outside of Dublin the most expensive price per acre of arable land was in the Midlands region with a median price of €14,351 per acre in 2020.

The highest median price per acre of permanent grassland was in the Southeast at €10,944 per acre.

The lowest price per acre for arable land was in the Middle East with a median price per acre of €9,660 per acre and the lowest price per acre for permanent grassland was in the West region at 4 €625 per acre.

Amalia H. Mercado