As a comparison, Irish farmland prices were €8,647 per acre or $12, 774 per acre in 2010 calculated by the Irish Farmers Journal. Only 41,339 acres or 881 farms were put on the market in 2010;- typical very low annual sales. So Irish farmland sale price is approximately 30% higher than the highest, New Zealand, on this list, given Irish prices have held over the year 2011.
Wednesday, June 1, 2011
How do farmland prices vary around the globe? I have created the following table by adapting, updating, and adding to a table from the 2011 Wealth Report by Citi Private Bank and Knight Frank Worldwide. Farmland prices are in constant flux, so these are rough estimates, and values vary greatly based upon quality, infrastructure, and water availability within each country and region.
Country: Price per Acre: Land Description: Price change last year: Type of Risk: New Zealand $9,312 Dairy Farms -3% Economic England $8,907 Average all land types +13% United States $6,478 Quality dryland
in cornbelt states
+8% Economic Argentina $6,072 Buenos Aires Province Canada $5,100 Ontario province Brazil $4,858 Top sugar cane land in Sao Paulo +24% Political, Economic Brazil $2,834 Dryland double-cropping in
+20% Political, Economic Uruguay $2,800-3,600 good farmland, with easy access to the transport system Brazil $2,429 Dryland double-cropping in
+6% Political, Economic Argentina $2,024-$4,049 Central provinces +10% Political, Economic Poland $1,842-$3,289 Price dependent on size of holding 0% Australia $1,200-2,800 best wheat producing land Australia $648-$688 Dryland arable with reliable rainfall +2% Economic, Climate Romania $631-$1,315 Price dependent on size of holding 0% Canada $526 Saskatchewan province +7% Argentina $486-$1,012 Northern provinces +10% Political, Economic Zambia $405-$607 Long Leasehold Political, Climate Russia $121-$405 Price dependent on size of holding and progress of freehold application -10% Economic, Political Brazil $121 Native bush with high cattle potential in Para +11% Political, Economic Ukraine $61-142 5-10 year lease rights 0% Economic, Political, Climate
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mer O’Siochru is a qualified architect and valuation surveyor. She was a founder of Feasta and served on its executive committee for many years. She is director of EOS Future Design which designs and develops sustainable systems and settlements. She also manages the Feasta-led Smart Tax Network which is funded by the Department of the Environment, Heritage and Local Government to develop tax policies in areas related to the environment. She lives in Dublin.