Average farmland prices forecast to rise by 8%

Waterford recorded the single highest price per acre in one plot size, with some land selling for €17,400 per acre.

The report by Teagasc and the SCSI found Mayo to have the lowest-value farmland nationwide. File Picture.

Ireland's farmland values are forecasted to rise by 8% in 2023, with Waterford recording the most expensive land throughout the country, underpinned by a strong dairy sector.

At €17,400 per acre for good-quality land, this year's Annual Agricultural Land Market review found that Waterford, along with the rest of Munster, benefitted largely from rising interest from individuals investing in land to guard against inflation.