What Is the Average Cost of Land in Ireland?

The cost of land in Ireland is influenced by economic, geographical, and regulatory factors. Understanding these dynamics offers insights into valuation trends across different land types and regions. The market is characterized by varied pricing, reflecting its diverse uses from agriculture to residential and commercial development.

Factors Influencing Land Value

Land value in Ireland is significantly shaped by its location. Properties closer to urban centers and established infrastructure typically command higher prices due to increased demand. Proximity to amenities, transport links, and employment hubs directly correlates with increased land desirability and cost.

Zoning and planning permission are primary determinants of land value. Land designated for residential, commercial, or industrial development is considerably more valuable than land zoned for agricultural or open space use. Obtaining planning permission for construction can dramatically increase a site’s market price, reflecting its future development potential. Recent legislation introduced a Land Value Sharing (LVS) charge, a 30% levy on the increase in land value when zoned for housing, aiming to capture a portion of this uplift for public infrastructure.

A parcel’s physical attributes, including its size, shape, and topography, also play a role in its valuation. Irregularly shaped or steeply sloped sites may incur higher development costs, potentially reducing their market value. Access to essential services and utilities, such as water, electricity, and broadband, is another crucial factor, as their absence can lead to substantial additional connection costs.

For agricultural land, quality considerations like soil fertility, drainage, and ground conditions are important. Highly productive land with good soil and natural drainage is more valuable for farming. Broader market demand, influenced by economic conditions, interest rates, and the overall supply of available land, impacts pricing across all categories.

Regional Price Overview

Land prices in Ireland exhibit considerable regional variation, with a clear distinction between the Greater Dublin Area and other parts of the country. In 2024, the average cost of agricultural land in the Republic of Ireland was approximately €12,515 per acre. Dublin consistently recorded the highest average land prices, reaching around €25,490 per acre for farmland.

Conversely, counties such as Leitrim, Mayo, and Donegal typically have some of the lowest average land prices. For instance, Leitrim’s average farmland cost was about €6,419 per acre in 2024. However, within regions, quality variations exist; good quality land in Waterford could fetch an average of €23,500 per acre, while poor quality land in Mayo might be as low as €3,075 per acre.

The development land market also shows significant regional concentration. In 2024, turnover for development land in the Greater Dublin Area, along with Cork, Galway, and Limerick, surged to €762 million. Dublin alone accounted for 79% of all development land transaction volumes, highlighting its dominance. This regional disparity underscores the influence of population density, economic activity, and development potential on land values across Ireland.

Land Use Categories and Pricing

Land values in Ireland are heavily dependent on their designated use, reflecting different pricing metrics for each category. Agricultural land is typically priced per acre, with significant variations based on its productive capacity. Prime arable land and quality grassland command higher prices than marginal or less productive areas. For example, in the first nine months of 2023, prime arable land averaged approximately €14,723 per acre, while prime grassland averaged around €13,207 per acre.

Residential development sites are often valued based on their potential for housing units. Single-house plots can vary widely in price, with a typical site potentially costing around €30,000, though this can escalate significantly depending on location and planning permission. For larger parcels intended for multiple dwellings, the price is often quoted per acre with an emphasis on the number of units that can be developed. In Dublin, the average price per square meter for residential properties can range from €5,000 to €6,000, with prime city center locations reaching up to €7,666 per square meter.

Commercial and industrial land is typically priced per square meter or per site, depending on the scale and location. These lands are generally found in urban centers or designated business parks and are valued for their suitability for retail, office, or logistics facilities. Prices for commercial and industrial units can vary widely.

Interpreting Land Market Data

Understanding Irish land market data requires familiarity with common metrics and reliable sources. Agricultural land prices are typically quoted per acre, while residential sites may be priced per site or, for larger developments, per acre with an estimated unit count. Commercial and industrial properties are often measured and priced per square meter.

The Residential Property Price Register (PPR) is a publicly accessible database detailing all residential property sales in Ireland since 2010, including sale price and address. While invaluable for residential sales, it does not include details such as property size or condition.

For agricultural land, reports from organizations like the Irish Farmers Journal and Teagasc provide insights into market trends and average prices.

Major property agencies such as Sherry FitzGerald, Knight Frank, Savills, and Lisney regularly publish market reports that cover various land use categories and provide regional analyses.

When reviewing data, it is important to recognize that published figures are often averages. Actual prices for a specific piece of land can deviate significantly due to its unique characteristics, including zoning, planning status, and access to utilities. Consulting recent sales data for comparable properties in the immediate vicinity provides the most accurate valuation context.