New figures from the Central Statistics Office show that the median price per acre of agricultural land was €9,084 in 2023, 12.2% higher than in 2022 when it was €8,094.
Today's CSO figures show that a total of 60,344 acres of agricultural land were sold nationally last year, a decrease of 2.5% on the 61,875 acres sold in 2022.
The mean transaction size was 18.3 acres.
The total value of sales for 2023 amounted to €526.4m, an increase of 0.9% on the €521.7m recorded in 2022.
Arable land accounted for €43.2m (8.2%), while €483.2m (91.8%) was spent on purchases of permanent grassland.
The CSO noted that arable land commanded a considerably higher median price per acre of €16,275 in 2023, 17% above the value of €13,907 achieved in 2022.
Dublin and the Mid-East ( Kildare, Louth, Meath, and Wicklow) were the most expensive regions to buy agricultural land, with median prices per acre of €15,048 and €14,398 respectively.
The land was most affordable in the West (Galway, Mayo, and Roscommon) region where the median price was €6,745 an acre.
The CSO said the volume of sales was highest in the West (Galway, Mayo, and Roscommon) region, where 13,637 acres of agricultural land changed hands.
That compares with 127 acres sold in the Dublin region and with 5,199 acres in the South-East (Carlow, Kilkenny, Waterford, and Wexford) region.
