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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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Kerry Airport appoints new Chief Executive Officer

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Kerry Airport has announced the appointment of Adrian Neilan as its new Chief Executive Officer.

Neilan assumes the role following a record-breaking year in 2025 with over 440,000 passengers, the highest in its history, travelling through the airport.

A native of Ardfert, he returns home to the Kingdom with a deep personal connection and a strong professional track record spanning more than two decades.

Mr Neilan is widely recognised as a resilient and results-driven executive with vast experience in leading multidisciplinary teams, delivering strategy and guiding organisations through transformation and innovation.

He was educated at Trinity College Dublin where he graduated with a BA, BAI Engineering followed by an MSC Computer Science, also from Trinity, later adding an MBA from Dublin City University.

This background, coupled with Adrian’s business acumen and expertise should benefit Kerry Airport Airports in its drive for new routes.

Announcing the appointment, the Chairman of Kerry Airport Plc, Denis Cregan, said,
“We are delighted to welcome Adrian back to Kerry in this important leadership role. He brings not only exceptional professional expertise but also a genuine understanding of the region and its potential.


“Adrian’s breadth of experience and strategic insight make him ideally positioned to lead Kerry Airport into its next phase of growth and development, and on behalf of the Board, I wish him every success in the role.”


Adrian Neilan has a proven history of leading finance, operations, cybersecurity/digital transformation, and HR.


Speaking on his appointment, he said,
“I am incredibly proud to be the next CEO at Kerry Airport in my home county. I have a deep appreciation for the airport’s essential place in supporting the local economy and sustaining connectivity across the region.


“My appointment comes at a pivotal time, with a mandate to drive continued growth through the development of new routes and to further secure Kerry Airport’s role as a critical piece of infrastructure supporting future development.


“I look forward to working with the Board, staff, and stakeholders to build on Kerry Airport’s strong foundations and to support its continued growth and success.”

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Student places third in national journalism awards

The local success at the AsIAm awards was a double celebration for committee member Claire Fowler, whose son Max earned a national title for his work in podcasting last week. […]

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The local success at the AsIAm awards was a double celebration for committee member Claire Fowler, whose son Max earned a national title for his work in podcasting last week.

Max Fowler, a Transition Year student at St Brendan’s College, placed third in the Young Journalist Ireland awards in Dublin. He was recognized for his podcast, In Conversation with Max Fowler and Guests, which provides a personal look into life as a teenager with Autism Spectrum Disorder.
The ceremony was hosted by Róisín Ingle of the Irish Times, with Minister Patrick O’Donovan also in attendance. The judges praised the podcast for its high quality and honest discussion, stating that Max’s openness created an engaging conversation that builds better understanding of his experiences.
St Brendan’s College congratulated Max on the achievement, saying that his work reflects a bright future for the medium. The award-winning podcast can be heard on the ‘Sem Cast’ channel on Spotify.

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