\"Dublin

Dublin City skyline - cost of living in Ireland's capitol has dropped Photo by: Damien Kelly

Cost of living in Dublin drops, city offers better value than other European hot spots

\"Dublin

Dublin City skyline - cost of living in Ireland's capitol has dropped Photo by: Damien Kelly

Ireland’s capital city of Dublin has been ranked the 34th most expensive city in a survey that compared data from 131 urban centers internationally.

Information compiled by The Economist magazine and The Economist Intelligence Unit ranked Dublin in the 34th spot of its annual rankings. This was a four spot drop from Dublin’s last year rank of 31st, signaling that the cost of living in Dublin is on the decline.

With it’s drop in the rankings, Dublin still holds a better value than other popular European locales such as Paris, Madrid and London.

However, Ireland’s capital city is also still more expensive than other EU cities including Rome, Berlin, Amsterdam, Prague and Athens.

The data that was compiled by the EIU experts compared and analyzed the prices of 400 different types of good and services such as food, drink, rent, utility bills, schooling costs and household supplies.

The statisticians noted that fears about the Euro currency made many European cities cheaper, thus English locales like London moved up one place to 16th, while Manchester rose six places to 47th place.

Compiler of the report, Jon Copestake said: “The cost of living in Europe has seen relative declines thanks to economic austerity and currency fear.”

“But Asian cities have also been rising on the back of wage growth and economic optimism.

“This means that over half of the 20 most expensive cities now hail from Asia and Australasia.”

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