Dublin the world’s 58th most expensive city

DUBLIN has plunged in the rankings of one of the most expensive places in the world to live.

The Mercer Cost of Living survey ranks the capital as the 58th most expensive city worldwide compared with 42nd place last year. Just six years ago Dublin was 10th in the survey.

However, it remains in the top 15 most expensive cities in the European Union.

Dublin’s shift in the ranks is down to exchange rate fluctuations between the dollar and the euro, as well as the price of goods increasing on a greater scale in the base city, New York, than Dublin.

Other cities have become more expensive, which has further pushed Dublin down the list.

Luanda in Angola is the world’s most expensive city, while Karachi is the cheapest. The survey monitors the cost of 200 items for foreigners in each location, including housing, transport, food, clothing and entertainment.

Tokyo remains in second position and N’Djamena in Chad in third. London dropped one place to 18th.

New entries in the top 10 are Singapore (8), up from 11 and Sao Paolo (10), which has jumped 11 places since the 2010 ranking.

Senior consultant at Mercer Noel O’Connor said: “We have seen Dublin drop from 42 to 58 in the worldwide rankings. Dublin ranks in the top 15 most expensive cities in the EU with a ranking of 13, down two places from 2010 out of 40 EU cities in the survey.

“In Dublin, prices for expatriate rental accommodation have remained stable in the last 12 months. Global mobility is an expensive undertaking for companies and the cost of housing — often the biggest expense for expats — plays an important part in determining an expatriate’s overall relocation package.”

London is Britain’s most expensive city, followed by Aberdeen (144), Glasgow (148) and Birmingham (150).

Belfast is in 178th place.

At rank 32, New York is the most expensive city in the United States.

Los Angeles (77) and Chicago (108) dropped significantly in the rankings (22 and 17 places respectively) as price increases on goods and services have been moderate compared to New York.

Only three European cities remain in the top 10 list of most expensive cities.

Moscow, at fourth, is still the most costly European city, followed by Geneva (5) and Zurich (7).

More in this section