DUBLIN HAS BEEN ranked as one of the most expensive places to live in Europe, according to a new survey.
The survey of over 200 cities, carried out by Mercer – which publishes a yearly guide to the cost of living in cities – ranked Dublin 46th, making it the most expensive city in the eurozone.
The cost of renting was named as one of the reasons for Dublin’s high cost of living. The latest data from property website Daft.ie shows that there has been a 39% increase in the number of properties advertised to rent in the city, with the average monthly rent nationwide in May set at €1,398 – 0.7% higher than a year ago.
“As with recent years, one of the major factors influencing Dublin’s ranking is the cost of rental accommodation. Rental accommodation is often the biggest cost for companies when placing an employee on assignment,” said Noel O’Connor, a senior career consultant at Mercer Ireland.
The Covid-19 pandemic has added considerable uncertainty to the global economy, making the cost of living more expensive in some places.
Hong Kong was the most expensive city in the world, the survey found.
In Europe, Dublin was deemed to have a higher cost of living than Milan, Paris, Amsterdam and Frankfurt.
Zurich was named the most expensive European city, followed by Bern and Geneva. London was ranked 19th in terms of how expensive the cost-of-living is.
“As Brexit progresses, organisations with EU headquarters in the UK may need to look for alternative EU locations, and Dublin is likely to be on the shortlist of preferred options,” O’Connor said.
The least expensive cities are Tunis, Windhoek, Tashkent and Bishkek.
New York is used as the base city for all comparisons of the cost of living for expatriates. The survey included a total of 400 cities, with 209 places ranked.
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