The average price of agricultural land fell by almost 22% last year, according to a survey by the Irish Farmers Journal.
The newspaper says the average price paid for an acre of land last year was less than €16,000, compared to €20,000 the previous year.
Limerick, Galway and Sligo have experienced the largest reductions, with prices down 40% or more in the three counties.
The price falls could affect farmers seeking to borrow money against the value of their land.
COMMENT RULES: Comments that are judged to be defamatory, abusive or in bad taste are not acceptable and contributors who consistently fall below certain criteria will be permanently blacklisted. The moderator will not enter into debate with individual contributors and the moderator’s decision is final. It is Belfast Telegraph policy to close comments on court cases, tribunals and active legal investigations. We may also close comments on articles which are being targeted for abuse. Problems with commenting? firstname.lastname@example.org