62 acres for €507,000 in south Tipp
The property, which went to auction and was withdrawn at €440,000, was sold to a local farmer the following week for €507,000, or that €8,177 per acre, an excellent result, considering the economic climate.
The purchaser was a recipient of funding for road re-alignment. Tightness in the money market is leaving the property field open for those with ready cash. All others face intransigent bank managers, whose hands are tied by group policy. Severe lack of funding is putting the opportunity of acquiring land out of the hands of young, ambitious farmers. But that’s life, at the moment, in the property world; land is cheaper, but you can’t get the money to buy.
