In 2022, 59,806 acres of agricultural land were sold nationally, an increase of 0.4% on 59,597 acres sold in 2021 and a rise of 23.9% on 48,258 acres sold in 2020.
The median price per acre was €8,094 in 2022, 7.5% higher than in 2021, when it was €7,529.
Arable land commanded a considerably higher median price per acre of €13,745 in 2022, 0.3% below the value of €13,792 achieved in 2021.
Dublin and the Mid-East were the most expensive regions to buy agricultural land with median prices per acre of €18,395 and €12,307, respectively.
The highest volume of agricultural land, 11,061 acres, was sold in the West region, while only 338 acres were sold in the Dublin region and 5,565 acres in the South-East.
| % | |
| Arable Land | 6.5 |
| Permanent Grassland | 93.5 |
| % | |
| Arable Land | 12.4 |
| Permanent Grassland | 87.6 |
In 2022, 59,806 acres of agricultural land were sold in Ireland at the median price of €8,094 per acre. The mean transaction size was 17.5 acres. Only 3,903 acres (6.5%) were arable land, which commanded a significantly higher median price of €13,745 per acre. The remaining 55,902 acres (93.5%) of agricultural land sold at the median price of €7,850 were permanent grassland.
The total value of sales amounted to €501 million, an increase of 5.9% on the €473.1 million recorded in 2021. Arable land accounted for €62.3 million (12.4%), while €438.7 million (87.6%) was spent on purchases of permanent grassland. See Table 1.1, Figure 1.1 and Figure 1.2.
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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Statistician's Comment
The Central Statistics Office (CSO) has today (01 May 2024) released Agricultural Land Prices 2022.
Commenting on the release, Niall Corkery, Statistician in the Prices Division, said: “In 2022, 59,806 acres of agricultural land were sold nationally, an increase of 0.4% on 59,597 acres sold in 2021 and a rise of 23.9% on 48,258 acres sold in 2020. The median price per acre was €8,094 in 2022, 7.5% higher than in 2021, when it was €7,529. Arable land commanded a significantly higher median price of €13,745 per acre, than permanent grassland at €7,850.
Purchasers in Dublin and the Mid-East (Kildare, Louth, Meath, and Wicklow) regions paid the highest median price per acre of €18,395 and €12,307, respectively. The land was most affordable in the West (Galway, Mayo, and Roscommon) region, where the median price was €6,039 per acre.
The volume of sales was the highest in the West (Galway, Mayo, and Roscommon) region, where 11,061 acres of agricultural land changed hands, while only 338 acres were sold in the Dublin region and 5,565 acres in the South-East (Carlow, Kilkenny, Waterford, and Wexford) region.”