Dublin is still the fifth most expensive city in Europe for renters
Dublin's popularity with businesses and slim supply in popular parts of the city are seen as factors for the high costs.
Dublin is still the fifth most expensive city for renters in Europe, according to new data.
A report from global mobility expert ECA International says the Irish capital experienced a rise in rent of €119 per month, equalling a 2.2% rise in 2020.
However, it also noted that this is a lower rate of increase than the 6% rise between 2019 and 2020 which ECA International described as "staggering".
According to ECA International, the average rental cost of a three-bedroom central home in Dublin is now €3,713 per month.
This makes the Irish capital far more costly to rent in than other European capital cities such as Rome at €2,729, Berlin at €2,475 and Valencia at €1,600.
Dublin was also found to be more expensive for renters than Paris, which ranked sixth at €3,537.
On the reasons for this, accommodation services manager at ECA International Alec Smith commented: “Dublin remains a popular location for businesses to send staff on assignment, so demand continues to impact accommodation costs.
"In addition, ongoing building regulations which remain tight in Dublin makes supply slim in popular areas of the city.”
London, meanwhile, maintained its position as the most expensive location in Europe to rent in for the fifth year in a row.
The second most expensive city in Europe was Zurich, followed by Geneva and Moscow.
London is also the fourth most expensive in the world, with Hong Kong taking the top spot - followed by New York and Tokyo.
For the full results, see here.