Dublin is now the second most expensive city in Europe to live and work remotely and is pricier across a range of metrics than Paris, Amsterdam, Copenhagen, Stockholm and more than two dozen other capitals, according to a new survey from neo-bank Bunq.
It is also over three times more expensive for people to establish a temporary working base than the cheapest capitals in Europe, the research suggests.
The only big city found to be more expensive for so-called digital nomads to set up shop is London.
Bunq’s Working Abroad Index analyses multiple data from open sources and suggests the average monthly expenses in Dublin for a growing cohort of people who work remotely across international borders have risen to €2,633.78 in 2024, a small jump on last year’s figure but enough to put Dublin into an unenviable second place in the price league.
While food costs have decreased slightly, rent for a one-bedroom apartment has climbed to €1,862 per month while co-working spaces are now more expensive due to the increased popularity of remote work.
According to Bunq, there are more than half a million “digital nomads” working out of Ireland for companies based all over the world and the fintech’s spokeswoman Bianca Zwart said that while “living a borderless lifestyle is exciting” it is “crucial to understand the financial realities of your chosen destination”.
[ What’s happening with house prices?Opens in new window ]
The monthly cost of working out of London was put at €3,227 and €2,634 in Dublin. Amsterdam was in third with the cost said to be €2,564 with Luxembourg and Copenhagen rounding out the top five.
At the other end of the scale, the most affordable cities were Bucharest, with an average monthly cost of €829, Sofia at €870 and Budapest, where monthly costs were put at €942.
For the index, the average costs for rent, groceries and utilities including electricity, heating, waste, mobile internet and home internet were priced while rental costs for one-bedroom apartments in and outside the city centre were considered, with averages calculated.
The study also looked at the cost of remote working spaces and public transport.
Source link : http://www.bing.com/news/apiclick.aspx?ref=FexRss&aid=&tid=67197075bbb54c438b7fb459fbc5ce11&url=https%3A%2F%2Fwww.irishtimes.com%2Fbusiness%2F2024%2F10%2F23%2Fdublin-now-second-most-expensive-place-in-europe-to-live-survey-finds%2F&c=16841342938315105921&mkt=de-de
Author :
Publish date : 2024-10-23 10:37:00
Copyright for syndicated content belongs to the linked Source.