The roots of Ireland’s property crisis

Dublin down and out

DUBLIN has long been a popular destination for foreign tourists, who enjoy its warm pubs, silky beer, Georgian streetscapes and leisurely approach to life. But lately it seems that longer-term visitors have been falling out of love with Ireland’s lively capital.

Last month a survey of 13,000 expatriates put Dublin fifth from bottom of a list of 51 global cities, ranked by quality of life. Their main gripe (as with Paris, which finished two places lower, sandwiched between Riyadh and Jeddah) was not a sudden collapse in the city’s charm, safety or amenity but its high cost of living, and in particular the difficulty of finding somewhere to stay.

According to a recent report by WorldFirst, an international-payments firm, Luxembourg is now the only European country where renting a home is pricier than it is in Ireland. Daft.ie, an Irish property website, reported last month that the average monthly rent in central Dublin is now...Continue reading

Souce: Europe http://ift.tt/2ivlfNB

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