Why Irish Buyers Keep Choosing Spain — and What Makes the Costa Blanca the Right Call

Ireland has one of the highest rates of second-home ownership abroad in Europe — and Spain remains by far the most popular destination. In 2024, Irish buyers completed 2,307 property purchases across Spain, a figure that places the ten-year sales index at 221: purchase volumes have more than doubled since 2015. The desire for a sun-soaked second home is not fading. It is, year on year, quietly and steadily growing.

So what keeps driving it — and how do buyers make it work rather than find themselves on the wrong side of those "money pit" headlines?

The EU Passport Advantage Nobody Talks About Enough

The single most underrated factor in Irish demand for Spanish property is the legal freedom that comes with an EU passport. Irish citizens can purchase property in Spain with no restrictions, no minimum investment thresholds, and no special visa requirements. There is no golden visa to apply for, no nationality-based quota, and no category of property off-limits to EU nationals.

This stands in sharp contrast to the position of British buyers since 2021, who navigate a non-EU legal framework, or American buyers, who require more complex financial structuring. For an Irish buyer, the path to Spanish property ownership is as legally open as it can be.

That freedom, combined with Ireland's strong domestic economy — GDP expanded 5.5% in 2024 — and one of Europe's most elevated domestic property markets, creates a compelling equation: your money goes further in Spain, the process sits within a familiar EU legal framework, and the climate dividend is immediate.

What the Numbers Actually Show

Of those 2,307 Irish purchases in 2024, 1,680 (73%) were by non-residents — people buying a holiday home, a letting investment, or a future retirement base rather than relocating full-time. The remaining 27% were Irish expats already living in Spain. The non-resident segment is the growth engine: in the first half of 2024, non-resident purchases rose 14% year-on-year.

Irish buyers also spend above the European average. The average price paid in 2024 was €2,409 per square metre — an 11% year-on-year increase, and roughly 7% above what all foreign buyers paid on average. This is not a budget-market play. Irish buyers are consistently choosing quality, in sought-after coastal locations, at price points that still look compelling compared with Dublin or Cork.

The "Money Pit" Question — and the Honest Answer

The cautionary framing is not entirely fictional. Buying abroad does carry costs and obligations that can catch underprepared buyers off guard. The honest summary:

Acquisition costs run to approximately 10–13% on top of the purchase price. For a €350,000 property, budget an additional €35,000–€45,500 covering transfer tax (ITP — recently reduced to 9% in the Valencian Community), notary fees, land registry fees, and legal fees.

Ongoing tax obligations begin the moment you own. Non-resident property owners in Spain pay Modelo 210 — an annual tax on deemed or actual rental income — even if the property is left empty for the year. The Ireland–Spain double taxation treaty prevents being taxed on the same income twice, but both countries maintain reporting obligations. Irish tax residents must also report Spanish rental income to the Revenue Commissioners.

The purchase process feels different from Irish conveyancing. There are no solicitor-to-solicitor undertakings; completion takes place at a notary, with both parties present. A private reservation fee secures the property; an arras contract (deposit agreement) precedes the final notarial deed. Independent legal advice is not a nice-to-have — it is how deposits, licences and off-plan bank guarantees do not go wrong.

None of this makes Spain a money pit. It makes it a market where preparation is rewarded and assumptions are punished — which, if you think about it, is equally true of the Irish property market.

Why the Costa Blanca North Makes Particular Sense

Alicante province accounts for 43% of its own property transactions going to foreign buyers — three times Spain's national average. Within that province, the Costa Blanca North — Jávea (Xàbia), Moraira, Dénia, Altea — consistently draws buyers who want quality coastal living rather than mass-resort infrastructure.

Jávea in particular offers something genuinely unusual: three distinct environments — old town, port, beach — within a single municipality, a year-round international community, a micro-climate that delivers more than 300 days of sunshine, and direct road access from Alicante airport in under an hour. Prices crossed €4,000/m² in 2026, but relative to comparable coastal markets in France, Italy or Portugal at equivalent quality, the value proposition remains strong.

For Irish buyers specifically, the practical infrastructure matters: English is widely spoken across the Costa Blanca North, there are well-established northern European communities, and services ranging from property management to short-term rental compliance are mature and accessible.

Getting It Right From the Start

Buyers who have positive experiences in Spain share a consistent pattern. They work with a buyer's agent rather than a developer's or vendor's agent. They obtain their NIE (Número de Identidad de Extranjero) early — this can be done at the Spanish Embassy in Dublin or at a National Police station in Spain, and is required before signing any purchase deed or opening a Spanish bank account. They engage a bilingual Spanish lawyer before committing to anything. And they understand the ongoing costs before they sign, not after.

The dream is real. It simply requires the same diligence you would apply to a purchase in Ireland — applied to a different legal system, in a different language, with different (though clearly documented) tax rules. Get those fundamentals right, and the Costa Blanca delivers exactly what it promises: outstanding quality of life, a resilient and growing property market, and a second home that is genuinely worth having.

Frequently asked questions

Can Irish citizens buy property in Spain without restrictions? Yes. As EU citizens, Irish buyers face no restrictions on purchasing Spanish property. There are no minimum investment thresholds, no visa requirements linked to the purchase, and no categories of property unavailable to EU nationals.

What taxes do I pay as an Irish owner of a Spanish property? You pay annual Modelo 210 non-resident income tax in Spain, whether or not the property is let. If you do rent it out, you report rental income in both Spain and Ireland — the Ireland–Spain double taxation treaty prevents paying the same tax twice but does not eliminate the reporting obligation in either country. Capital gains on eventual sale are taxed at 19% in Spain for EU residents; Ireland also levies CGT, with the treaty resolving the overlap.

How much should I budget on top of the purchase price? Allow 10–13% for buying costs: property transfer tax (ITP, now 9% in the Valencian Community), notary and land registry fees, and legal fees. On a €350,000 property that is approximately €35,000–€45,500 in addition to the purchase price.

What is a NIE and when do I need it? A NIE (Número de Identidad de Extranjero) is your Spanish tax identification number. You need it before you can sign a purchase deed, open a Spanish bank account, or register utilities in your name. Irish buyers can apply at the Spanish Embassy in Dublin or at a National Police station in Spain once they arrive.

Can I let my Costa Blanca property as a holiday rental? Yes, but you must obtain a regional tourist rental licence (known in the Valencian Community as a VT or ETV registration) before advertising or accepting bookings. If the property is in an apartment block, you also need a formal vote of approval from the community of owners. Elia Living can guide you through the registration process.

Why is Jávea particularly popular with northern European buyers? Jávea combines three distinct environments — old town, port and beach — within a single protected bay, a year-round international community, exceptional micro-climate, and easy access from Alicante airport. It avoids the mass-resort character of larger coastal towns while offering the full range of services, making it one of the most consistently demanded addresses on the Costa Blanca North.