Scarce Galway land made around €7k per acre last year

AVERAGE land prices in the Galway region during the past year came in at around €7,000 per acre, according to the 2020 Institute of Professional Auctioneers and Valuers (IPAV) Farming Report.

However, the IPAV reported that for some ‘exceptional lots’ of land in the county, prices of €10,000 per acre were achieved, while at the other end of the price scale, there was a floor of €4,500 per acre achieved for forestry land.

One of the issues facing potential buyers, the IPAV pointed out, was in the securing of finance with lenders looking ‘for an additional income stream’ – long-term letting continued to be attractive for many younger farmers, the IPAV stated.

In other parts of Connacht, good quality land in Mayo fetched between €6,000 and €8,000 per acre with lots of between 10 and 15 acres attracting a lot of interest from local buyers – larger plots tended to attract more outside interest.

There was an uplift in land forestry sales across the Mayo region, according to the IPAV, with holdings in excess of 30 acres making in the region of between €4,500 and €5,000 per acre. Land for letting in Mayo made between €110 and €135 per acre.

IPAV reported a strong demand in Roscommon for land lots in the 10-to-50-acre category – again with local interest the ‘main driver’.

For more, read this week’s Connacht Tribune.

Connacht Tribune Digital Edition App

Download the Connacht Tribune Digital Edition App to access to Galway’s best-selling newspaper.

Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.

Or purchase the Digital Edition for PC, Mac or Laptop from Pagesuite  HERE.

Get the Connacht Tribune Live app
The Connacht Tribune Live app is the home of everything that is happening in Galway City and county. It’s completely FREE and features all the latest news, sport and information on what’s on in your area. Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.