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Is Dublin’s rising cost of living discouraging expat arrivals?
| Published: | 27 Jun at 6 PM |
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This year’s Mercers’ cost of living survey placed Dublin in 43rd place, with the city losing 11 places over last year’s study.
As inflation and poor currency exchange rates stalk the expat world, those expatriates using surveys to decide on their next destination are in for a number of shocks. Over the past three years, Dublin had become a favourite for UK refugees from Brexit and the resulting broken economy, but the dramatic fall in the value of sterling and the city’s increasing property rental prices may now be enough to convince would-be expats to go elsewhere. As with many other worldwide destinations, it’s property rental prices which are killing the expat golden goose.
Expats arriving under their own steam as well as companies placing their employees on assignment can expect serious issues when attempting to find suitable accommodation at even a half-decent price. In addition to greedy landlords, Dublin’s real estate market is attempting to cope with high demand and low supply for rental properties, even although the average house price has fallen by a considerable €4,500 over the past three months. It isn’t helping that, according to another survey, Dublin now ranks as the world’s 14th most congested city and the sixth worst in Europe, with commuter and commercial drivers spending over 45 per cent longer than is necessary per journey given the road network.
The city has been trying out various schemes to improve the situation, such as new infrastructure including rail and road, bikeways and busways, none of which have yielded results as the gridlocks are being caused by an employment and population explosion. However, it’s not all bad news for expats relocating to the city, as it’s now a multicultural, international hub for talent as well as being famous for its music and amazing culture. Traditional Irish pubs are expat favourites, and the foodie scene is alive and well in a choice of restaurants to suit all pockets.
As inflation and poor currency exchange rates stalk the expat world, those expatriates using surveys to decide on their next destination are in for a number of shocks. Over the past three years, Dublin had become a favourite for UK refugees from Brexit and the resulting broken economy, but the dramatic fall in the value of sterling and the city’s increasing property rental prices may now be enough to convince would-be expats to go elsewhere. As with many other worldwide destinations, it’s property rental prices which are killing the expat golden goose.
Expats arriving under their own steam as well as companies placing their employees on assignment can expect serious issues when attempting to find suitable accommodation at even a half-decent price. In addition to greedy landlords, Dublin’s real estate market is attempting to cope with high demand and low supply for rental properties, even although the average house price has fallen by a considerable €4,500 over the past three months. It isn’t helping that, according to another survey, Dublin now ranks as the world’s 14th most congested city and the sixth worst in Europe, with commuter and commercial drivers spending over 45 per cent longer than is necessary per journey given the road network.
The city has been trying out various schemes to improve the situation, such as new infrastructure including rail and road, bikeways and busways, none of which have yielded results as the gridlocks are being caused by an employment and population explosion. However, it’s not all bad news for expats relocating to the city, as it’s now a multicultural, international hub for talent as well as being famous for its music and amazing culture. Traditional Irish pubs are expat favourites, and the foodie scene is alive and well in a choice of restaurants to suit all pockets.
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