Dublin has been named the sixth most expensive capital in the world for renters

Dublin is the sixth most expensive capital in the world for renters, according to a new report.

Such as Irish Times A study by British insurance group CIA Landlord indicates the average cost of renting one-bedroom apartments in 38 capitals worldwide.

Dublin was ranked sixth on the basis that renting a one-bedroom unit costs an average of £1,397 (€1,643) per month and requires a net monthly stipend of £2,515 (€2,960).

Renting a similar unit on the outskirts of town was marginally cheaper at £1,206 (€1,419) per month. « Dublin is not a great destination for cheap rentals, » the report said.

Monaco was the most expensive capital for renters, with an average rent of £2,973 a month, which required a net monthly stipend of £5,236.

It was followed by London (£1,685), Washington (£1,676), Hong Kong (£1,658) and Singapore (1,584).

Dublin was, however, the third most expensive city in Europe before Luxembourg, Amsterdam, Stockholm and Copenhagen. Sarajevo was the cheapest European capital with an average monthly rent of £224, which required a net salary of £533.

The results come amid a sharp acceleration in rents here. According to real estate website Daft.ie, rents are rising nationally at an annual rate of 6.8 percent.

The company’s most recent quarterly report said there were only 1,460 homes for rent on its website as of last November 1, the lowest number since the quarterly series began in 2006. This included just 820 homes in Dublin.

The CIA Landlord report also evaluated the most expensive cities to buy real estate. Monaco was once again on top with a cost of £62,860 per square metre for those looking to buy a home in the city.

It was followed by Hong Kong (£24,066), Singapore (£13,876), Beijing (£13,031), London (£12,189) and Paris (£11,016).

Dublin was ranked 25th most expensive for buyers globally with a cost of £5,131 per square metre.

People who live in Monaco are known for their luxurious lifestyles with expensive merchandise and fast cars. Their properties are no different – those renting an apartment in downtown Monaco can expect to pay an average of £2,973 for a one-bedroom apartment, the report said.