Land a 'cash crop' for developers - Stewart

Land in Ireland has become a "cash crop" for developers, a conference heard yesterday

Land in Ireland has become a "cash crop" for developers, a conference heard yesterday. Conservationist Duncan Stewart said that land near Dublin, Cork and Galway had become so dear that in many cases 50 per cent of the cost of a house was made up of the site cost.

He said that land had become a "cash crop" for developers and, in some cases, farmers and that developers were creating such high prices that housing was too expensive for first-time buyers.

Mr Stewart was speaking at the From Muck to Millions - How Should We Use Our Land? conference at the RDS, where business leaders, economists, policy makers and environmentalists discussed the policies, trends and prospects of land use in Ireland.

José Manuel Sousa, director for rural development at the European Commission, said that the EU's rural development policy for 2007-2013 is based on three axes: improving competitiveness in farming and forestry, environment and land management, and economic diversification and quality of life.

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Fine Gael MEP Avril Doyle said that the "buzz words" in Brussels were climate change, sustainable development and environmental impact assessment. Gerry Gunning of the IFA said that agriculture was important for our national prosperity and that farming is only sustainable if farmers have a viable income. The conference follows the recent announcement of €2.5 billion in EU funding for rural development in Ireland.