# Price of farmland In Co Galway



## iwsf (26 May 2009)

would you know the average price per acre for farmland in County Galway these days?
Interested in buying a plot of farmland and wouldn't want to be overcharged 
The land cannot be built on.

Thank you in advance


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## Cayne (26 May 2009)

You could be talking anywhere from 10K to 50K an acre depending on the quality of land. Probably best course of action is speak to a number of auctioneers in Galway county to get a better understanding.


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## Robin Banks (26 May 2009)

Cayne said:


> You could be talking anywhere from 10K to 50K an acre depending on the quality of land. Probably best course of action is speak to a number of auctioneers in Galway county to get a better understanding.


 
How much annual profit could you generate from an acre of good farm land that cost 50K to buy?

Just wanting an idea of the prospective yield for good farmland.


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## iwsf (26 May 2009)

from 10k up to 50k, i honestly didn't think that farmland could be that expensive. All i want is a bit of land for a horse.


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## Cayne (26 May 2009)

Did a quick check there for you, have a look at this link:

[broken link removed]

If all you want is enough for a horse a local farmer would be more than happy to let you some ground. Or indeed let run on a rough piece of land.


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## johnny1234 (26 May 2009)

And in another two months the price of land should be down further. In Galway there is no agricultural land worth 50 k per acre or anything near it. You will find land in the east of the county where prices have dropped considerably.


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## QED (26 May 2009)

The Farmers Journal published a survey on agriculatural land prices in Jan 09.

http://www.rte.ie/news/2009/0305/agriculture.html

" The biggest fall, 41%, was in Limerick, followed closely by Galway on 40% and Sligo with a 39% drop in prices.
 The cost of an acre in Leinster was €19,500; in Connacht it was €10,500.
 The author of the report, Shirley Busteed, said the main reason for the fall in land prices was that speculators have stopped buying."


I can't seem to find the full 26 page report on their web-site but I got this:

[broken link removed]


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## iwsf (26 May 2009)

Thank you for all the infos.
Did try to rent a plot of land but nobody wants a horse as they destroyed the land they say !


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## Protocol (26 May 2009)

Robin Banks said:


> How much annual profit could you generate from an acre of good farm land that cost 50K to buy?
> 
> Just wanting an idea of the prospective yield for good farmland.


 

I heard that about 200 euro per acre gross profit as an estimate.

With land at 10,000 per acre, and more a few years ago, you can see how it's madness.

There is no link anymore between the yield and the asset value.


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## iwsf (26 May 2009)

i offered €6000 per acre (3 acre in total) for a piece of land and was told politely to forget about it.
The site is far from being of top quality.
Remember last year they wanted €20,000 per acre, right now the asking price is €15,000.
Might have to wait till 2010 to get a better price.


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## cel333 (10 Sep 2009)

We own land in Galway and rent it at 100 euro per acre. We could have sold it for agricultural purposes two years ago for 35,000 to 40,000 an acre but would now get approx 20,000 pa. There is no relationship between the possible yield from the land and the purchase price. A half acre site with OPP would have given us 125,000 two years ago but would now net 80,000 to 90,000. Hope this information helps.


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## galway. (10 Sep 2009)

the average price is 10,000 to 20,000 depending on location , condition of land and so on


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## coquito (11 Sep 2009)

As someone who has been in farming all my life the price of land is ridiculous, even at 10,000 an acre. If you lived two lifetimes you would not make your money back by farming alone. At 20cent a litre would you get up at 6 or 7 o'clock every morning for ten months or perhaps the whole year round for the privilege of milking cows? Those of us who do, are kept on the land by the generations who came before us and it may sound strange but we don't have a choice, we inherited the land and have to make the best of it. You may say that is ridiculous but if you don't move out a certain stage of your life you are stuck with it. Have you ever asked yourself the question why so many parents who live on farms, particularly small farms of marginal land, send their children to college? They want them to move on and have  choices. What is your definition of a farmer? When RTE did a programme the top ten farmers included Sheik Mohammad, The Aga Khan, Larry Goodman, Sir Tony O'Reilly. That is not my definition of a farmer. And don't get me started on the single farm payment, you may think that every farmer gets thousands of euro for nothing. The impression is given that this money is paid to farmers but that is not the case.    Greencore PLC get over 83million!!! The Irish Dairy Board 6.5million, Kerry Co. Op  over 5million. Galwayman, keep your money in your pocket, rent a bit of land for your horse, and enjoy life.


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## Bronte (11 Sep 2009)

Protocol said:


> There is no link anymore between the yield and the asset value.


 
I read somewhere that Irish agricultural land cost many multiples of the same in the UK and France. Now that's just plain crazy unless you're digging for gold and I don't think there is gold in Irish soil.


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## iwsf (11 Sep 2009)

back in France you can buy a hectare of grazig land for les than €5000 in rural Britanny.


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