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30th Jan 2019

You’d Need A Monthly Salary Of €13,000 To Rent An Apartment In Dublin 2, Shocking Report Finds

Darragh Berry

There are some staggering findings in this report.

It has been revealed that some people who are planning to live in this Dublin area would need to earn €13,000 a month or €8,900 after tax.

The 2019 Neighbourhood Price Index produced by Nestpick, has found that the average family apartment in Dublin 2 would require the above salary.

These findings show that renting in Dublin 2 is more expensive than one-bedroom apartments in parts of London such as Chelsea, and even San Francisco.

On the list, Dublin 2 ranks 26th overall out of 740 results for one-bedroom apartments in 50 countries.

Residential apartments cost €52 per square metre for a single person and €37 per square metre for a family apartment.

Dublin 4 isn’t too far away on the list either. It comes in at 52nd place with a monthly salary of €12,928 required for a family apartment while Dublin 3 – in 78th place – requires €12,328.

The most affordable districts across the 50 countries that were part of the listings are: Gropiusstadt, Stockholm, Montréal and greater Manchester.

“As companies and cities battle to attract a highly skilled workforce, the reality of disposable income and cost of living has become more important than mere salary alone.

“With this in mind, we’ve undertaken this study to help those looking to relocate in the near future understand where their salary will stretch the furthest,” comments Ömer Kücükdere, Managing Director of Nestpick.

“A byproduct of this data has been that we’ve confirmed the gap of inequality that exists within certain cities. In some cases, an individual working on minimum wage might need to work over 500 hours just to afford one month’s rent in a particular neighbourhood.”

The 2019 Neighbourhood Price Index determines the current trending cost of renting an apartment in neighbourhoods around the globe, as well as their respective affordability.

The prices are therefore reflective of what an individual would find if they were searching for an apartment today. The study covers over 700 neighbourhoods in 50 cities around the world.

These cities were chosen because they are either attracting influxes of highly skilled workers, or they are popular with individuals looking for lifestyle or economic opportunities.

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