Dublin in top 10 least 'financially viable' cities worldwide - report

The research looked at the local cost of living and average rents stacked against average salaries
Dublin in top 10 least 'financially viable' cities worldwide - report

Muireann Duffy

Dublin has been named as one of the least "financially viable" cities, according to a report including 56 major cities around the world.

The research, conducted by UK insurance group CIA Landlord, found Dublin was the seventh-worst city examined in terms of financial viability based on disposable income.

The rankings were determined by the city's cost of living and average cost of rent against the average salary, as reported by The Irish Times.

The average cost of rent in Dublin city for a three-bed apartment was found to be £2,468 (€2,910) and monthly cost-of-living expenses were £754 (€889), while the average salary totalled £2,559 (€3,018), leaving a monthly shortfall of around £663 (€782).

The research found the least financially viable city was Rome (Italy), followed by London (UK), Lisbon (Portugal), Mexico City (Mexico) and Paris (France).

Dublin follows Seoul (South Korea), which takes sixth place, but comes in higher than Santigao (Chile), San José (Costa Rica) and Bogota (Colombia).

Among the top 10, Dublin had the second-highest average monthly salary after tax behind London (£3,196/€3,768), but also had the second-highest average monthly rent, again coming in behind the UK capital (£3,413/€4,024).

Dublin's monthly cost of living was fourth-highest among the top 10 cities, behind London (£854), Seoul (£794/€936) and Paris (£790/€931).

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