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Local farmland rental values expected to increase between 10% to 15%

Apr 25, 2023 13:40 By Shannonside News
Local farmland rental values expected to increase between 10% to 15%
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Mayo recorded the lowest value for farmland in 2022.

Farmland rental values in the Shannonside region will increase between 10% to 15% on average this year, according to the Society of Chartered Surveyors Ireland.

It comes as the annual Teagasc agricultural land review and outlook shows the price of land nationally will increase by 8% this year.

The annual report breaks down the average cost of non-residential land, per 50 acres, from good quality land to bad quality land.

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The reports shows Leitrim land has the lowest average cost in this region with high quality at just over €6,000 and bad quality at €3,300.

This is followed by Roscommon with high quality land at just under €10,000 and low quality at €4,000.

Longford has the highest average cost at just over €12,000 and low quality of land at an average of €6,000.

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