Land prices are up 5% to an average €12,840/acre for 2023, according to the professional body for auctioneers and valuers (IPAV).
Launching its seventh annual report on Tuesday, it reports that land prices have jumped 38% in the last five years.
The Irish Farmers Journal is reporting that CEO Pat Davitt outlined the results on a webinar showing Munster has the highest prices, averaging €16,325/acre.
It also has the highest leasing price at about €320/acre.
The highest price for forestry land is in Connaught according to Mr Davitt, at €6,300/acre.
Expressing surprise at the 5% rise in the average the CEO said: “Yes I am surprised, as interest rates have gone up 10 times and milk price has fallen off, but nitrates is driving change and pushing up the price."
