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Cost of agricultural land set to increase by 8% this year

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By Ted Healy of DNG TED HEALY

The results of a survey on agricultural land values conducted by the Society of Chartered Surveyors Ireland (SCSI) was published earlier this week.

It predicts an increase in land values by an average of 8% this year and an increase of 14% on average in rental values.

The report titled, 'SCSI/Teagasc Agricultural Land Market Review & Outlook Report 2023', analyses the agri sector performance over the past year and projects how it will perform over the next 12 months.

In all 134 agri professionals and valuers were surveyed, who expect the outlook for dairy farmers to ease and a challenging future for sheep and tillage farming.

Rental Land values in Munster increased by an average of 13% in the last year with a 9% increase experienced in Leinster.

The report indicates that the average non-residential farmland prices in 2022 ranged from €5,564 per acre for poor quality land – up five percent from €5,308 in 2021 – to €11,172 per acre for good quality land – up two percent from €10,962 the previous year. Strong demand from dairy farmers for good quality land is driving the market.

The majority of those surveyed believe there is likely to be an increase in demand from dairy farmers to purchase farmland in 2023.

One point to note however, is that changes to the European Nitrates Directive, particularly measures aimed at protecting water quality, may have an impact on land prices, especially rental prices.

In order to maintain current levels of milk production – and to comply with the directive – many dairy farms will need to either increase their land area or reduce milk production.

The Residential Zoned Land Tax (RZLT) is also coming down the line at an alarming rate, farmers have until May 1 to make a written appeal. Under the new legislation farmers owning currently zoned land face an annual tax bill of 3% of the market value of their zoned land.

This will result in countless numbers of landowners facing crippling tax bills from next year on. It is expected that this new tax may bring forward extra land sales later this year before the tax takes hold.

The IFA (Irish Farmers Association) have this week sought a senior counsel review of the legislation governing the Residential Zoned Land Tax.

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Town centre hotel slashes energy costs by over a third after retrofit

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A full energy retrofit at Scott’s Hotel will cut annual energy costs by more than a third, highlighting how hospitality businesses can benefit from available grant supports.

A showcase event at the hotel on Friday last heard how the project has significantly reduced carbon emissions while improving energy efficiency and the overall guest experience.

The project, delivered by Energywise Ireland under the SEAI Community Energy Grant (CEG) scheme, included a 162kW solar PV system, cavity and attic insulation, a hot water system upgrade and a new air conditioning system.

The renewable energy company said the retrofit has the potential to result in a 36% reduction in annual energy costs.

It’s also advising that companies and community groups can avail of grant amounts of between 30% and up to 50% for non-domestic buildings.


Berth Sheehy, CEO of Energywise Ireland said: “We were delighted to be asked to take on this project at Scott’s Hotel Killarney and we’re very pleased with the results. Hotels operate year-round with significant energy demands, so the impact of targeted measures can be substantial.

This project shows how businesses can reduce energy costs and emissions while making their operations more efficient.”



Managing Director at Scott’s Hotel Maurice O’Donoghue added: “Like many hospitality businesses, energy costs are a key consideration for us. We received sound, practical advice from Energywise Ireland and the results have exceeded our expectations. Not only have we reduced our energy use and running costs, but we’ve also improved comfort levels for guests throughout the hotel.”

The SEAI is encouraging other businesses across the country to explore available grant supports. Spokesperson Katerina Leromonahos said: “SEAI offers a range of supports to help businesses improve energy efficiency, from community-based projects to direct business grants.

These supports help businesses reduce energy use and lower running costs. We would encourage businesses to explore the options available and seek advice, including through registered One Stop Shops, to find the approach that best suits their needs.”


Founded in 2009, Energywise Ireland is a nationwide provider of energy services, specialising in renewable energy and retrofit solutions for domestic, commercial and agricultural clients. Its services include solar PV, heat pumps, EV charging systems and full energy upgrades, delivered through SEAI-supported programmes including its registered One Stop Shop.

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Shades are spot on for the greening of Killarney

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Killarney will leave every other town in the country green with envy when the whole place turns a distinctive shade of green in the lead up to and during the St Patrick’s Festival.

From early this month, buildings across the town and the surrounding area will be illuminated in vibrant green, including landmarks such as St Mary’s Cathedral, the Franciscan Friary, St Mary’s Church of Ireland, Methodist Church, Ross Castle and Killarney Courthouse.


In addition, several hotels, shops, restaurants and pubs will join in the celebration and a public vote on Facebook will select Killarney’s Best Green Themed Building.


Shop windows will be decorated, locals and visitors dress in shades from emerald to lime and colourful hats and costumes add to the fun.


Businesses have been urged to make a special effort this year and the entire town will be a winner.

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