57,212ac of agricultural land were sold nationally in 2024, new figures from the Central Statistics Office (CSO) show.
This a decrease of 8.9% on the 62,823ac sold in 2023.
The median price per acre was €9,988 in 2024, 10.3% higher than in 2023 when it was €9,053.
Arable land commanded a considerably higher median price per acre of €17,898 in 2024, 9.4% above the value of €16,362 achieved in 2023.
A total of 3,289ac (5.7%) were arable land.
The remaining 53,924ac (94.3%) of agricultural land, sold at the median price of €9,623, were permanent grassland.
The mean transaction size in 2024 nationally was 17.4ac.
Most expensive regions
Dublin and the south-east (Carlow, Kilkenny, Waterford and Wexford) were the most expensive regions to buy agricultural land, with median prices of €24,125/ac and €14,991/ac respectively.
Commenting on the release, Niall Corkery, statistician in the CSO prices division, said agricultural land was most affordable in the west region (Galway, Mayo and Roscommon) where the median price was €7,027/ac.
“The volume of sales was highest in the west region, where 12,782ac of agricultural land changed hands,” Corkery said.
“This compares with 475ac sold in the Dublin region and with 4,517ac in the south east region.”
The total value of sales amounted to €555.9 million in 2024, an increase of 0.3% on the €554 million recorded in 2023.
Arable land accounted for €67.5 million (12.1%), while €488.4 million (87.9%) was spent on purchases of permanent grassland.