Ireland offers a proposition that is unique in Europe. For British buyers, it is the only remaining EU country where you can move, live and work freely without a visa. For buyers from further afield, such as the US or Australia, it offers a deep cultural connection, an English-speaking environment and a pace of life that balances modern tech-hub energy with rural tranquility.
However, the Irish property market is competitive and strictly regulated. Prices in Dublin can rival London, and the legal process involves specific steps—like the “booking deposit”—that can confuse international buyers.
Whether you are looking for a coastal cottage in Kerry, a city apartment in Cork or a family home in the suburbs of Dublin, understanding the rules is essential.
This guide walks you through the buying process in Ireland in 2026, from the Common Travel Area benefits to the tiered Stamp Duty rates. We also cover the most significant variable for international buyers: the currency. Ireland uses the euro, meaning your budget is exposed to exchange rate volatility. We explain how to manage that risk.
Can foreigners buy property in Ireland?
Yes. There are no restrictions on foreign nationals buying property in Ireland. You do not need to be a resident or an EU citizen to purchase land or a home.
However, owning property does not automatically grant you the right to live there (unless you are a British or EU citizen).
Before you can complete a purchase, you must obtain a PPS Number (Personal Public Service Number). This is Ireland’s equivalent of a National Insurance or Social Security number and is essential for tax purposes.
Visas and residency in Ireland
This is where Ireland stands out from the rest of Europe.
- UK Citizens (Common Travel Area): Under the Common Travel Area (CTA) agreement, British citizens retain the right to live, work, retire and access healthcare in Ireland freely. You do not need a visa, a residence permit or employment sponsorship. This makes Ireland the easiest destination for British movers post-Brexit.
- EU/EEA Citizens: Have the right to live and work freely.
- Non-EU/UK Citizens (e.g., USA, Australia): You generally need permission to retire or live in Ireland.
- Stamp 0: The standard route for retirees. You must prove you are fully self-sufficient (typically requiring an individual income of roughly €50,000 per year plus lump sum savings) and cannot become a burden on the state.
- Immigrant Investor Programme (IIP): Note that this scheme (Ireland’s “Golden Visa”) was closed to new applicants in 2023.
Why buy property in Ireland?
Beyond the visa benefits for UK citizens, Ireland remains a top destination for:
- Quality of Life: consistently ranking high on the UN Human Development Index.
- Economy: A robust economy hosting the European HQs of major global tech and pharma companies.
- Culture: A rich literary and musical heritage combined with spectacular landscapes, from the Wild Atlantic Way to the Ancient East.
The property-buying process in Ireland
The Irish system is similar to the UK model but with key differences regarding deposits.
- Hire a Solicitor: Do this early. The legal work (conveyancing) is heavy, and you need a solicitor licensed in Ireland.
- The “Booking Deposit”: Once your offer is accepted, you pay a booking deposit to the estate agent (typically roughly €5,000 to €10,000). Crucially, this is fully refundable until contracts are signed. It merely shows “goodwill” but does not legally bind the seller.
- Sales Advice Note: The agent sends this to both solicitors, outlining the agreed price and conditions.
- Contract for Sale: Your solicitor checks the title. Once satisfied, you sign the contract and pay a non-refundable deposit (usually 10% of the purchase price, less the booking deposit).
- Closing: On the agreed date, the remaining 90% is transferred, and you receive the keys.
Costs of buying a property in Ireland
Transaction costs in Ireland are reasonable compared to parts of mainland Europe. Budget for approximately 3-5% on top of the purchase price.
- Stamp Duty:
- 1% on the first €1 million of the property value.
- 2% on any amount above €1 million.
- Note: A rate of 10% applies if you buy 10 or more residential units in a 12-month period (aimed at institutional bulk buyers).
- Legal Fees: Solicitors generally charge either a flat fee or a percentage (approx 1% + VAT).
- Surveyor Fees: Highly recommended, typically €500 to €1,000.
- LPT (Local Property Tax): An annual tax based on the valuation band of your property.
Why currency exchange is critical
You will need to send money at several stages:
- Booking deposit
- 10% Contract deposit
- Final Balance (Closing)
Ireland uses the euro. If your funds are in pounds, dollars, yen or krone, the price of your Irish home is constantly moving.
For illustration, a €450,000 property could cost:
- £381,000 at a GBP/EUR rate of 1.18
- £401,000 at a GBP/EUR rate of 1.12
That is a difference of roughly £20,000 purely due to currency movement. This shift can happen in the weeks between paying your refundable booking deposit and signing the binding contract.
How to manage currency risk
You can reduce this uncertainty with a plan.
- Forward contract: Fix today’s exchange rate for a future payment. This is vital in Ireland where the time between “Sale Agreed” and “Closing” can drag on for months if there are title queries. It ensures your budget doesn’t spiral while the lawyers do their work.
- Market order: If you are browsing but haven’t found a home, set a target rate. We will automatically buy euros for you if the market hits that level.
Why use a specialist currency provider?
Irish solicitors are strict about “Source of Funds” due to EU anti-money laundering directives. Sending large sums from abroad requires clear paper trails.
Smart Currency Exchange can help you navigate this. We ensure your funds arrive in your solicitor’s client account with the correct references and documentation, preventing last-minute delays at Closing.
Making transfers on time
The “Closing” in Ireland is a hard deadline. If your funds are not in your solicitor’s account on the morning of completion, you cannot get the keys.
- Send funds at least 24 hours before Closing.
- Ensure you account for bank holidays in both countries (UK/USA and Ireland).
- Use a specialist provider to avoid funds getting stuck in the banking system’s clearing processes.
In summary: buying property in Ireland
To make your purchase smooth and secure, follow these rules:
- Remember the Booking Deposit is refundable – the deal isn’t done until contracts are signed.
- Budget for 1% Stamp Duty (on properties under €1m).
- Protect your budget from euro volatility using a Forward Contract.
Frequently Asked Questions about buying property in Ireland
Can UK citizens move to Ireland after Brexit?
Yes. Under the Common Travel Area (CTA), British citizens have the right to live and work in Ireland without a visa. This right predates the EU and remains fully in force.
Can I get a mortgage in Ireland?
Yes, Irish banks lend to non-residents (“Buy-to-Let” or holiday home mortgages). However, the Loan-to-Value (LTV) ratio is typically lower, often capped at 65-70%, and interest rates may be higher than for residents.
Do I need a survey?
It is not legally mandatory but strongly advised. “Caveat Emptor” (Buyer Beware) applies. Once you sign the contracts, you generally accept the property in its current condition.
