Priciest City Is 'Nearly Dublin'

Dublin has moved up in the most costly places to live 'charts' this week, taking the forth spot over Zurich for the first time ever.

In a study compiled by the Swiss bank UBS, Dublin was found to have the fourth most expensive goods and services in the world.

Topping the chart was the Scandinavian Oslo, followed by Copenhagen and then London.

Europe has overtaken the US in the global chart over recent years too, with its relatively new single currency, leaving the likes of New York slipping to 18th and the city built on rock and roll, Los Angeles, languishing at number 28.

The power of purchasing, used to test the spending power of residents after taxes and rent, also remains strong in Dublin.

Excluding housing prices, workers in Zurich, Geneva, Dublin and Luxembourg, have the most to spend for the hours they work.

Working 'nine to five' in Dublin delivers almost 28% more purchasing power than in Amsterdam. However, Dublin falls to eighteenth on the list when house prices are taken into consideration.

Analysing the results the UBS Bank said: “The Euro has continued its extraordinary ascent. As we write, EURUSD had breached the 1.50 frontier.

"Coming after our data deadline, this new level is not in the data used to prepare this analysis, but the euro’s steady ascent versus many currencies, particularly the US dollar, is very evident in our calculations," he said.

Dublin also has the distinction of being fifth highest-paying country in the world, finishing above Frankfurt, Brussels, and even London.

Out of the countries surveyed, workers in Tel Aviv and Jakarta took home the least wages, with Jakarta’s workers being paid some 95% less than the top five cities.

(DW)