According to Mercer’s 2021 Cost of Living Survey, the cost of living in Dublin makes it one of the most expensive in the world.
Consulting company Mercer’s has released the results of their annual Cost of Living Survey for 2021. And you may be surprised to discover that Dublin ranked fourth as the most expensive city in the eurozone for ex-pats.
So, if you’re thinking about moving to Dublin, you may want to consider whether you can afford the cost of living.
The most and least expensive cities – choosing an affordable place to live
Mercer’s survey gives an insight into the most and least affordable locations for international employees worldwide. And if you’re thinking about moving to the Emerald Isle’s capital city, you may want to consider the cost.
According to the Cost of Living Survey, Dublin ranked fourth most expensive city in the eurozone for ex-pats.
Paris ranked as the most expensive city to live in the eurozone coming in at number 33 overall. Similarly, Milan and Vienna also came above Ireland’s capital city in 36th and 37th position.
Rising seven places from its 2020 position, Dublin came in at number 39 overall for the most expensive city to live in the world.
The rising cost of living – the cost of rental accommodation
The reason Dublin ranked as the fourth most expensive city in the eurozone for ex-pats is due, in part, to the cost of rental accommodation in the city.
Senior consultant at Mercer Noel O’Connor commented on the release of survey’s results. He explained, “Dublin, which recorded deflation during the year, didn’t climb as sharply as other eurozone cities like Paris, Vienna, Amsterdam, and Rome where official inflation caused faster price rises.
“One of the factors influencing Dublin’s ranking is the cost of rental accommodation.
High demand, coupled with supply constraints in the private rental market, means some expatriates have difficulty finding appropriate rental accommodation, often the biggest cost for companies placing employees on assignment.”
The most and least expensive cities in the world – two extremes
While Dublin ranked fourth most expensive city in the eurozone for ex-pats, it only came in at number 39 globally.
Topping the list as the most expensive city in the world to live in is Ashgabat, Turkmenistan, which overtook Hong Kong to take the top spot.
In second place is Hong Kong. Closely followed by Beirut, Lebanon, which leapt an astounding 42 spots from its position last year.
Tokyo came in fourth, while Zurich took fifth position, making it the most expensive city in Europe to live.
On the flip side, Bishkek, the capital of Kyrgyzstan, came in at number 209. Thus, making it the least expensive city in the world to live.