Land prices in Limerick lag behind three other counties in Munster, new report reveals

THE AGRICULTURAL land market remains strong for 2025 with forecasts that its price will increase by 6% on average, according to a major new report by Teagasc and the Society of Chartered Surveyors Ireland (SCSI).

SCSI auctioneers and valuers say they expect land values to rise again primarily due to better milk prices, strong competition among farmers and investors and recent changes to Ireland’s Nitrates Action Programme. 

Due to the latter, some farmers require more land to meet lower stocking rate thresholds, which further increases the demand, especially among dairy farmers in Ireland.

According to the Agricultural Land Market Review and Outlook Report 2025, the Central Statistics Office data shows that the share of agricultural land, which transacts for sale annually is only around 0.5% of agricultural area and this, combined with strong demand for agricultural land is driving the increase in land prices.

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The survey found that on holdings under 50 acres the price of an acre of good quality land in Limerick was €14,833, up from €12,900 in 2023, the third lowest per acre for good quality land in Munster.

The price of an acre of good land in Limerick on holdings between 50 to 100 acres in 2024 was €12,433 (€12,583 in 2023)  while the price of an acre of good land on holdings over 100 acres was €13,000 (€12,917 in 2023). The price of an acre of poor-quality land in Limerick was €6,433 up from €5,667 in 2023 and €4,800 in 2022.

 Auctioneer Paul Stack, of Sherry Fitzgerald Stack in Abbeyfeale, says land prices are being driven by a continued low supply of land to the market and demand across major sectors for agricultural outputs including a thriving dairy sector.

“Dairy farms are projected to have a robust 2025 and will continue to significantly influence the demand for both owned and leased land. Over three quarters of respondents to our survey (77%) ranked dairy farmers as the main buyer type of agricultural land.

"In addition, 62% of respondents expect an increase in demand from dairy farmers in 2025, with just 2% of respondents expecting this demand from dairy farmers to decrease,” said Mr Stack.

He said there are several other factors which are supporting the positive outlook.

“After a poor start, last year’s weather improved, and as a result crop yields performed better than expected. We have also seen a marked reduction in interest rates, which of course means lower finance costs.

“That said uncertainty in the global economy, along with recently imposed US tariffs on EU agricultural products are casting a long shadow. While it’s impossible to predict the outcome and potential impact, it’s clear these factors could introduce volatility into the land market and may temper some of the upward price momentum.”