Bad news for potential renters, as the Irish capital gets increasingly more expensive to live in.

Leading consulting agency ECA International have released their findings on Europe's most expensive locations for renters.

Unsurprisingly, London came in as Europe's most pricey city to live in. The study took into account the prices of "high end three bedroom apartments" and found that London was on average £3,693 ($5,164) more expensive per month than a similar property in the rest of Europe.

Meanwhile, Dublin jumped into the top ten most expensive ranks for the first time. Ireland's "fair city" had previously came in 11th place in 2017, but made a significant appearance as number eight on this year's list.

Read More: The five best and worst things about living in Dublin

The study found that the average rent of the type of aforementioned Dublin apartments in "prime areas" had jumped up to €3,066 per month - the equivalent of $3,758.

Image via ECA International

Image via ECA International

ECA International's Accommodation Services Manager Alec Smith said in a press release, “The past 10 years have seen a significant turnaround in the fortunes of Dublin’s residential rental market. The global financial crisis exposed a property bubble in the Irish capital and rents have increased significantly with each subsequent year of recovery."

He added, "The cost of renting has also been affected by elevated demand from international companies relocating staff while looking to take advantage of Ireland’s low corporate tax rate.”

Are you currently struggling to find a place to rent in Dublin, or elsewhere? Tell us about your experience in the comments below. 

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