Land prices in the county are now getting back to pre-boom levels, but still fetching a good ‘farming’ price, a leading Donegal auctioneer said this week.
Keith Anderson of Anderson Auuctioners in Donegal Town was commenting after a number of farm land sales in the county fetched what was said to be a “good” price in recent weeks.
“The situation is that for the first time in a long while, farmers themselves have been able to re-enter the land market. At the height of the boom, property developers, speculators and others were coming in, buying up land for sometimes crazy proces and then off loading them again in parcels for development. That has now all changed and it is good to see the farmers back in the market, purchasing the land for farming purposes,” he told the Democrat.
It is understood that a 27-acre farm in the Glenties area was sold recently for €8,000-10,000 euro an acre, while another farm “with top quality land” just outside Ballyshannon near Higginstown - some 28 acres - is expected to sell for €10,000 in the next few weeks.
Another 22-acre farm at Cavangarden, also near the Erne Town is also on the market and it too, is expected to sell at a price above€8,000 an acre.
At the height of the boom, depending on the number of acres for sale, land in the Ballintra/Bridgestown/Laghey/Ballyshannon areas was selling for €18,000 and acre and smaller acrerage farms of land were selling for up to €25,000 an acre, the Democrat was told.
“Business people are simply not buying land anymore for investment and farmers are re-entering the market at what they feel are realistic price levels,” Mr Anderson said.