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Friday 23 February 2018

Dublin 2nd most costly for 'young and broke'

When it comes to public transport, London commuters paid the most, at €159 a month, followed closely by Dublin (p) at €121 a month.
When it comes to public transport, London commuters paid the most, at €159 a month, followed closely by Dublin (p) at €121 a month.

Dublin has been ranked as the second most expensive place in the world for millennials to live.

The findings are the result of a study that looked at the cost of rent, transport and eating out in 32 of the world's most popular cities.

While Edinburgh was the most affordable city for twenty-somethings, Dublin came second to bottom.

The most expensive city was Sao Paulo, in Brazil, mainly due to the high cost of rent.

The study, entitled Where To Move When You're Young And Broke, was carried out by the international relocations firm Movehub.

Cappuccino

When it came to the cost of a cappuccino, it was at its priciest in the Danish capital, Copenhagen, at an eye-watering €4.60.

It was cheapest in Cape Town, South Africa, at €1.49. Dublin was somewhere in the middle at €2.97.

The data showed that the cost of renting a one-bedroom flat near Dublin city centre was €1,200, or 53pc of the average income. The cost in London was £1,187 (€1,356).

Meanwhile, the cost in the Austrian capital, Vienna, was an affordable €552, while in the Spanish capital, Madrid, it was €586.

When it comes to public transport, London commuters paid the most, at €159 a month, followed closely by Dublin at €121 a month.

According to the report, Edinburgh was the cheapest place to live, due to high density of cheap restaurants and reasonable rents - a fully-furnished flat near the city centre costs just £565 (€646) a month, or 30pc of the average income.

Trendy European hotspots Vienna, Copenhagen and the Czech capital, Prague, came second, fourth and seventh respectively in terms of affordability.

Renowned millennial favourite Berlin, which ranked third overall, performed best for rent, which took just 25pc of the average income.

Mumbai, in India, and Melbourne, in Australia, were the only non-European cities to make it into the Top 10. No North American city made the rankings.

Charlie Clissitt, lead researcher at MoveHub, said: "As people start the new year with new goals, January is one of the most popular months for people to take the plunge and plan a new and exciting life abroad.

"We hope this guide will help any young people looking for a new adventure to choose their new city based on the real standard of living for young professionals."

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