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Sky-high Dublin rental costs rival global cities like Paris and New York

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Dublin rents are on a par with Paris

Dublin rents are on a par with Paris

Dublin rents are on a par with Paris

Rents in Dublin are the sixth highest in the developed world, according to research from the European Union's statistics agency, Eurostat.

Dublin rents are on a par with Paris and behind only a handful of super-expensive cities including Tokyo, New York, London, Singapore, and Geneva, according to Eurostat's Current Markets Rents survey for 2017.

Accelerating rents so far this year mean the Irish capital is already on course to enter the top five most expensive cities, piling misery on renters and adding to concerns for industry that high prices will drive up wages or put some high-demand workers off Ireland altogether.

The Eurostat data is based on surveys of estate agents, and is aimed at comparing conditions for international civil servants - including European Commission and EU agencies staff. While it looks at one, two and three-bedroom apartments as well as non-detached and detached houses, the focus is on high quality, new and relatively new homes in what would be considered good residential neighbourhoods, so it is weighted to the upper end of the market.

Still, eight years ago Dublin prices were 14th highest among cities surveyed - an indication of the loss of competitiveness since the crash.

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Rents in Dublin are swiftly catching up with world cities such as New York

Rents in Dublin are swiftly catching up with world cities such as New York

Rents in Dublin are swiftly catching up with world cities such as New York

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