Wednesday, 2 January 2008

Farming land remains a sound investment

All sectors of farming performed well in 2007 with improved demand for grain, milk, potatoes and yields were also good. This resulted in increased confidence amongst farmers when buying and leasing land. 2007 has seen a strong demand for tillage farming land across the country. The market is particularly buoyant and has experienced price increases of 10%, largely due to the scarcity of grain globally which has fueled demand for tillage farming. According to Real Estate Alliance members the cost of an acre now varies between €15 - €20k per acre with some parcels fetching up to €30k per acre. Rental costs of tillage land have also climbed this year across the country.