Can This Price Be Correct ? Looks Like A Bargain

myhome.ie/residential/search … MKIF289473

50,000 an acre for agricultural land? You are joking that this is a bargain aren’t you?

I’m not being sarcastic. How many houses could you put on an 11 acre site ? I know it’s in Skyrne/Ratoath but that isn’t a million miles away from Navan

None with out planning permission ?

Its not the only place that looks like a bargain this is farmland readily available at this type of money.

Funny you talk about planning permission a colleague of mine is from out there and I mentioned it to her, she advised the only way you will get planning is if there is something in it for “them” being the locals.

Its about seven or eight times the price you’d pay for agri land in the UK.
And the annual rent per acre would be around €150-200. If you could get it rezoned to residential, different story.

Seems like a complete rip-off. I just talked to a farmer who said you wouldn’t last a year trying to farm that land and service that mortgage. You couldn’t live off it if it was given to you for free.

So I could potentially pull €2,200 a year out of this baby ? That might just about cover the mortgage for a month.

This one’s a no-brainer. Sign me up !

How much per acre did Michael McDowell pay to build his prison?

-Rd

Strange they are selling that land with the prospect of the new M3 being built either beside it or through it! :laughing:

Real property is defined as land and land only; it does not include anything growing out of land or anything built upon it…The Fundamental characteristic of real property is its permanence. Land is used for all the purposes of man, and its value…is measured by the degree of such usefulness represented in money. The value is based on its capacity to produce profit….at the prevailing interest rate of money. Edward H. Gilbert. In practical Real Estate Methods

All fine and dandy, until you let a generation loose who seem determined to prove that they are the greater fool.

When the capacity to produce profit comes not from any characteristic of the land, but from the irrational exhuberance of the public, then value of the land is no longer pegged in any way to the land itself.

Same argument applied in the dot com boom. the “Value” of a company should be pegged to it’s capacity to product profits, but during the boom losses were considered a good thing.

-Rd

Was on my Uncles farm during the week, Poor quality land in Roscommon. Most of the land in the area is not being farmed by the owners as returns do not justify the labour and inputs required. Land is rented out at £40/acre. Which puts its real value…in my view…at somewhere between £400-800 /acre. If I was to ask about its percieved value in an market distoretd by irrational exuberance im sure I would be told its worth 10 or twenty times that amount.