Are you an Irish national who is dreaming of retiring to Spain this year? We’ve crunched the numbers to help you decide if you can afford a comfortable retirement in Spain in 2026.
If you’re from Ireland and have dreams of retiring in Spain, the first question you’ll ask yourself is – Is it possible? Do I have enough money to comfortably retire to Spain?
Costs have risen considerably in Spain over the last few years, particularly with regards to rent and housing, as well as food and everyday expenses, so it’s important to be aware of these before you decide to make the move. Spain is not as affordable as it once was.
READ MORE: Is Spain really that ‘cheap’ anymore?
While everyone’s financial situation is different, we’ve crunched the numbers to find out if the average pensioner in Ireland could afford to make the move to Spain.
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Irish people’s pensions and average savings
The maximum weekly amount for the Irish contributory state pension is €299.30 per week (€15,563.60 per year) for those over retirement age, but under 80 years old. That’s according to the most up-to-date Citizens Information report from the Irish Government for 2026.
For those 80 and over, it rises €309.30 per week (€16,083.60 per year).
In the case of Ireland’s non-contributory state pension, the rate is up to €288 per week for people aged 66 to 80 (€14,976 per year), or €298 (€15,496) per year for those over 80.
It’s important to take into account that each retiree’s exact retirement package will look slightly different depending on what their job was, how long they were paying in, what age they are, and if they financially support a dependent. The above stats only provide the maximum amounts.
Then there are Irish people’s available savings, private pensions and passive income to factor in.
According to the Ireland’s Statistics Office (CSO), around 75 percent of older adults nearing retirement (aged 55–69) in Ireland hold some form of supplementary or private/occupational pension coverage.
Data from a pension survey by Ask Acorn, an Irish insurance brokerage and financial services firm, indicates the average accumulated savings for adults in Ireland aged 55 and older is €144,716 for men and €82,674 for women, making it an overall average of roughly €113,695 as a cushion for retirement.
Selling your house in Ireland will also provide you with a lot of disposable cash. The national median price for a residential property purchased in the 12 months leading up to July 2026 was €399,999, CSO figures show.
Is my Irish pension alone enough to live in Spain in 2026?
Like with pensions, the average cost of living in Spain can vary a lot. It all depends on what area you want to move to and what type of lifestyle and accommodation you want to have.
According to price comparison site Expatistan, the cost of living in Spain is 56 percent cheaper than in the Ireland – with housing – the biggest expense on the list – a whopping 94 percent more than in Spain.
It’s also notes that Spain is the third most affordable country in Western Europe. The site estimates that a single person would need a total of €1,976 per month to live in Spain and a family of four would need €3,879.
However, if you take the maximum Irish state pension of €299.30 per week, this works out at €1,197.20 per month.
This is less than the amount Expatistan estimates you would need per month to live in Spain, which was €1,976, but as we’ve broken down costs vary greatly in different parts of Spain and it doesn’t mean that you wouldn’t be able to live anywhere in Spain.
If you’re moving as a couple though and you both receive a pension, this amount would increase, so it may be possible.
Rental costs in Spain
If you’ve been able to purchase your property in Spain, you won’t have to worry so much about the increasingly volatile rental market here, but it’s worth keeping in mind that the cost of buying properties have skyrocketed here in recent years too.
Looking at rental costs, Expatistan estimates that an 85 m2 furnished flat in an “expensive area” of the country costs an average of €1,531 per month.
A furnished flat of a similar size in a normal area would cost around €1,092 per month. It’s important to keep in mind rental costs in major Spanish cities have increased dramatically in recent years.
Living in big cities like Madrid or Barcelona, for example, will be far more expensive than living in a small town in rural Extremadura or Murcia, where it may still be possible find apartments to rent for around €400 or €500 a month.
READ ALSO: Palencia – What is the quality of life like in Spain’s cheapest city?
Travel costs in Spain
Public transport costs in Spain are much more affordable than in Ireland. Expatistan estimates that a monthly pass costs an average of €30. Lots of towns and cities and towns in Spain currently have discounted train and bus tickets, which are even greater for retirees.
If you are wanting to drive yourself and have a car, petrol in Spain costs an average of €1.60 per litre, according to the site.
Whether or not you need your own car will also depend on where you decide to live in Spain.
Healthcare costs in Spain
Healthcare costs of course very important when you get older. If you qualify for the S1 form, you can benefit from free state healthcare in Spain. If not, however, you will need to get private insurance.
Many people decide to pay for private insurance anyway, in order to avoid long wait times or to be able to see specialists directly without having to wait to be referred.
READ MORE: The best private healthcare providers for foreigners in Spain
According to Feather Insurance private health insurance typically costs between €50 and €100 per month, although this could increase the older you are and the more conditions you have. Not all private insurers will cover for all conditions though.
Can the average Irish pensioner retire comfortably in Spain?
Yes, keeping in mind that that the average Irish pensioner also has a private pension plan and considerable savings – which could be further boosted by selling their property in Ireland for a high price – a comfortable retirement in Spain is possible for most of them.
Even those who are just relying on their Irish pensions to get by can still afford to live in a more affordable part of Spain.
In a recent article in Ireland’s Farmers’ Forum which got picked up by the Spanish press, a retired Irish couple that left Kerry for Murcia explain how their Irish “pensions stretched twice as far” in the Costa Cálida.
“We’re not living flash,” said husband Declan. “But we’re living fully — fresh fish, a café con leche without doing math, train trips to Valencia when the itch hits.”
Is Spain really cheaper than Ireland? For the most part yes, but Spain isn’t the incredibly affordable country it once was anymore.
Living in cities such as Madrid, Barcelona and Málaga may not be possible for all Irish pensioners, so it may be worth looking at smaller towns and villages in places like Galicia, Almería, Castellón and Murcia.
In conclusion, an Irish pension may be enough for you to cover your living costs in some parts of Spain, but you will almost certainly need savings and possibly other sources of passive income if you want to live here comfortably.
READ ALSO: What to know about having an Irish pension in Spain
