Dublin now fifth in Europe for expat rental costs
Dublin is now the fifth most expensive city in Europe for expats to rent accommodation in.
The capital city is costlier to rent in than other European capital cities such as Paris, Copenhagen and Stockholm, according to global mobility group ECA International.
The research from ECA has found that the average rental price for an unfurnished, mid-range, three-bedroom apartment has risen to €3,406 per month in Dublin.
Alec Smith, accommodation services manager at ECA International, said: "The past 10 years have seen a significant turnaround in the fortunes of Dublin’s residential rental market."
"The global financial crisis exposed a property bubble in the Irish capital and rents have increased significantly with each subsequent year of recovery. The cost of renting has also been affected by elevated demand from international companies relocating staff while looking to take advantage of Ireland’s low corporate tax rate," Mr Smith said.
Although London remains the most expensive city for expat rental accommodation in Europe, Dublin has leaped 35 places to 26th in the global rankings.
Rental costs across Europe rose significantly through 2018, due in part to the strength of the Euro.
While Dublin saw the biggest rises in expatriate rental costs in Europe, major cities such as Madrid, Rome, Paris and Barcelona all saw increases over €120 a month.
Elsewhere, and Hong Kong remains the most expensive location in the world for expatriate rent, while New York remains the second most expensive city in the world for overseas workers to rent in.