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“Since 2015, there’s been an appetite for forestry like we’ve never seen before and it’s all to do with the tax-free income,” Joe Brady of REA Brady Auctioneers, Co Leitrim told the Irish Farmers Journal.
“Where before marginal land in south Leitrim would have struggled to reach €3,000/ac, now it’s making between €4,000 to €4,500/ac.
“Farmers will bid up to €3,500/ac on a neighbour’s land if it goes up for sale but are outbid by forestry companies who start bidding at €3,500,” he said.
“In some areas, what was five or six small farms is now 60% forestry. But I think we should be making more industry out of the resource and opportunity that forestry presents.
“Good hard land in north Roscommon is back to €7,000/ac and there’s a good few farmers buying land there off the back of selling forestry.”
Asked about foreign investors, the auctioneer said: “I haven’t had any foreign company come through our door, but forestry companies could be buying land with the backing of foreign investment.”
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