Dublin among world’s costliest places to live

THE high price of living in Dublin has again been underlined by its listing as one of the 20 most expensive cities in the world.

Living in the capital costs more than enjoying the chic of Milan, the cool of Stockholm or the money markets of Singapore, according to the Economist Intelligence Unit.

The EUI’s worldwide cost of living survey ranked Dublin at 16, a jump of five places into the top 20. The city now lies ahead of Berlin, Amsterdam and Lyon and lags only two places behind Hong Kong.

Dermot Jewell, Consumers Association chief executive, noted that cinema prices, drink, hotel rooms and eating out were major factors in pushing Dublin up the scale.

“We are such a popular city with visitors and while there are reasonable prices for some, it’s at its highest if you were just to land in Dublin and hit the main drag,” he said.

And the consumer rights chief warned prices were not likely to begin dropping any time soon, noting that hoteliers in Dublin continued to make more than others across Europe.

“It really doesn’t matter what element you use to approach and assess the city; it has become expensive, it has stayed expensive and it will continue to be expensive,” he said.

The twice-yearly EUI cost of living survey records prices for over 160 items including drink, clothing, entertainment, tobacco and the average shopping basket.

Scandinavian countries and Japan upheld their reputations for being the priciest places in the world with Oslo topping the poll, Reykjavik and Helsinki in the top 10, and Tokyo and Osaka in the top five.

Eight of the 10 most expensive cities in the survey are now based in Europe, with London seventh, although Paris, ranked fourth, is the only one in the eurozone.

But even with the constant moaning about the cost of living, Ireland continues to enjoy low inflation and the fifth-highest GDP per head in the world at €30,837 helping give it the best quality of life anywhere.

Two years ago the Economist Intelligence Unit predicted our property prices were overvalued, but since then they have shown no sign of abating.