Friday 30 September 2016

Dublin 'very expensive' but is still good value

Laura Larkin

Published 06/08/2016 | 07:00

A new report by property experts Savills has shown Dublin shooting into the top 20 most expensive cities when compared on their 'work-live index'. (Stock picture)
A new report by property experts Savills has shown Dublin shooting into the top 20 most expensive cities when compared on their 'work-live index'. (Stock picture)

Dublin now ranks among the world's most expensive cities to live and work in but is still considered "good value".

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A new report by property experts Savills has shown Dublin shooting into the top 20 most expensive cities when compared on their "work-live index".

The index measures the annual per-person cost of renting and occupying home and office space per employee.

Dublin now ranks 14th with a cost of €40,600 per year - but as late as last March did not feature on the list at all.

According to Savills, European cities on the list have shown a "modest" increase in rents but Dublin is singled out as an "exception".

The capital has "seen an overall live-work increase of 6pc in Euro terms, fuelled primarily by a big bounce in office rents from low post-crash levels, and especially in the creative and tech sector" according to the report.

This compares to a 3pc rent rise in Berlin and 1pc hike in Paris. New York, Hong Kong, London, Tokyo and Paris are the most expensive cities. On the lower end of the table, Dublin ranks higher than Berlin but the outlook is still positive.

Irish Independent

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