Farm Ireland

Monday 19 March 2018

Irish farm land most expensive in the world

Ireland is the dearest place in the world to buy farming land according to a survey published earlier this year by the Financial Times in London.

The global land price survey, found that the average price of farming land in Ireland in the first half of 2014 was €9364/ac.

It is noteworthy that the next most expensive country in the world to buy land is New Zealand (€8532/ac) where the agriculture sector is dominated by dairying.

According to the survey, the next dearest European location to purchase land is Denmark at €7,934/ac followed by Britain at €5,448/ac.

Poland, France, Canada, Brazil, Romania, Hungary, the United States and Canada, all recorded a price per acre below €4,000 in the survey while land in Australia is currently changing hands for as low as €482/ac.

Economists and auctioneers believe the value placed by Irish landowners and farmers on their land is essentially historic.

However, they also agreed that this has been inflated over the past couple of years by demand for land ahead of the EU's abolition of milk quotas next April.

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Economists also attribute the high farm land prices in Ireland to the very low turnover of land here compared with other European countries.

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