The average price per acre of land was €7,501/ac in 2021, a 7.4% lift on 2020 prices, the Central Statistics Office (CSO) has said.

Some 58,645ac of agricultural arable land had a national median price of €14,756/ac in 2021, while the national median price for permanent grassland was €7,309/ac.

Buyers in Dublin and the southeast region (Carlow, Kilkenny, Waterford and Wexford) paid the highest median price per acre, at €38,863/ac and €11,118/ac respectively for arable and grassland.

However, just 482ac in the Dublin region and 5,035ac of agricultural land in the southeast were sold in 2021, the CSO reported.

Highest volumes in west

The volume of sales was the highest in the west, where 12,217ac of agricultural land changed hands.

Land was regarded as most affordable in counties Galway, Mayo and Roscommon, where the median price of €5,327/ac was achieved by sellers.

Commenting on the recent CSO release, prices division statistician Viacheslav Voronovich 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.”

Voronovich added that “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,” he said.