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Key Findings

Over 58,000 acres of agricultural land were sold nationally in 2021 for a median price of €7,501 per acre

Online ISSN: 2009-9924
CSO statistical publication, , 11am

Key Findings

  • In 2021, 58,645 acres of agricultural land were sold nationally, an increase of 20.8% on 48,537 acres sold in 2020 and just 0.9% below 59,199 acres sold in 2019.

  • The median price per acre was €7,501 in 2021, 7.4% higher than in 2020, when it was €6,987.

  • Arable land commanded a considerably higher median price of €14,756 per acre in 2021, 22.6% above the value of €12,032 achieved in 2020.

  • Dublin and the South-East were the most expensive regions to buy agricultural land with median prices per acre of €38,863 and €11,118, respectively.

  • The highest volume of agricultural land, 12,217 acres, was sold in the West region, while only 482 acres were sold in the Dublin region and 5,035 acres in the South-East.

Statistician's Comment

The Central Statistics Office (CSO) has today (22 May 2023) released Agricultural Land Prices 2021.

Commenting on the release, Viacheslav Voronovich, Statistician in the Prices Division, said: “In 2021, 58,645 acres of agricultural land were sold nationally, an increase of 20.8% on 48,537 acres sold in 2020 and just 0.9% below 59,199 acres sold in 2019. The median price per acre was €7,501 in 2021, 7.4% higher than in 2020, when it was €6,987. Arable land commanded a significantly higher median price of €14,756 per acre, than the pasture at €7,309. 

Purchasers in Dublin and the South-East (Carlow, Kilkenny, Waterford and Wexford) region paid the highest median price per acre of €38,863 and €11,118, respectively. The land was most affordable in the West (Galway, Mayo and Roscommon) region, where the median price was €5,327 per acre. 

The volume of sales was the highest in the West region, where 12,217 acres of agricultural land changed hands, while only 482 acres were sold in the Dublin region and 5,035 acres in the South-East.”

Table 1.1. Transactions of agricultural land: Main national indicators
%
Arable Land4
Permanent Grassland96
%
Arable Land10.1
Permanent Grassland89.9

In 2021, 58,645 acres of agricultural land were sold in Ireland at the median price of €7,501 per acre. The mean transaction size was 16.6 acres. Only 2,353 acres (4.0%) were arable land, which commanded a significantly higher median price of €14,756 per acre. The remaining 56,292 acres (96.0%) of agricultural land sold at the median price of €7,309 were permanent grassland. 

The total value of sales amounted to €476.5 million, an increase of 42.3% on the €334.9 million recorded in 2020. Arable land accounted for €47.9 million (10.1%), while €428.6 million (89.9%) was spent on purchases of permanent grassland. See Table 1.1, Figures 1.1 and 1.2.

Note

The median price is calculated by ordering the transactions in order of the price per acre and taking the mid-point, so that half of the transactions are made at a price above the median and half at a price below it. The mean price is calculated as a ratio of the total value to the total volume of land sold.

Neither mean, nor median price is suitable for measuring evolution between time periods, as the mix of the agricultural land sold in different periods can change over time.

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