Land prices fall 12% in first quarter

THE price of land dropped almost 12% in the first three months of this year, figures from the Central Statistics Office (CSO) showed yesterday.

The average price paid per hectare of agricultural land was 5.2% above the same period in 2004, but 11.8% below what was described as the exceptionally high figure for the final quarter of last year.

Preliminary figures for January to March 2005 showed the average price per hectare was €16,230, compared with €18,406 in the period October to December 2004.