Dublin Too Dear

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A new report from Nestpick, the world’s largest database for furnished apartment rentals, takes a look at the cost of renting an apartment in more than 700 neighborhoods spanning 50 major cities.

The prices are based on median rents for the last quarter of 2018, so they should reflect the current listings for an apartment. Apartments are considered “affordable” if households are spending 30% or less of their income on rent – a standard used by the US government.

Full Nestpick report here

Here’s what you need to earn to afford a one-person apartment in the world’s most popular cities (Business Insider)

Meanwhile…

 

The company [Nestpick] defines a single person apartment as around 50sq m (plus or minus 10sq m) and a family apartment as 105sq m( plus or minus 15sq m). The monthly salary requirement incorporates an area’s rent per sq m and the average apartment size.

The research found a worker on the minimum wage would need to work more than 279 hours to pay the monthly rent in Dublin 2
.

Monthly salary after tax of €8,900 needed to live in Dublin 2 (Irish Times)

8 thoughts on “Dublin Too Dear

  1. Spaghetti Hoop

    ‘around the world’ in this case excludes South America, Africa and larges swathes of Asia and the Middle East. Cos like research is so tiring, huh.

  2. Jimi

    Sorry $6671 is €5843, where is €8.5k coming from? Dont’ get me wrong, theres no way on earth Dublin shouldn’t be half that, but I just don’t see where the figures are coming from?

    1. Cian

      The headline seems to be specifying Dublin 2.

      You won’t believe what happens if we take the most extreme position and use it as a headline.

  3. JEH

    Also, keep in mind that it says “furnished apartments”. In many European cities (eg Paris, Zurich, Geneva, Brussels) unfurnished would by and far be the norm, so a furnished apartment is likely to command a premium in these areas, increasing the cost per m2. Therefore, these rates for other European cities are likely overstating what one would actually expect to pay.

    Anecdotally I can say that my friends who have moved from Dublin to Paris, Zurich, Brussels, and Munich are paying less on rent (in absolute euro terms) for better quality, larger accommodation, in more central locations. And in relative terms (rent as a percent of after-tax income) they’re paying less.

    We’re all getting hosed up here in the Big Pothole.

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