Dublin ranked 7th least ‘financially viable’ City to live in globally

Dublin has been ranked as the seventh least financially viable city to live in the world, according to a report including 56 major cities around the world.

The research was carried out by the UK insurance group CIA Landlord. It was determined based on the amount of disposable income available to residents.

The rankings were determined by the city’s cost of living and the 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 Santiago (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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