Rent in Dublin has entered the top five most expensive in Europe.
The Irish capital has entered the top five in Europe for the first time. It's overtaken Paris for the cost of rental accommodation.
Dublin rental accommodation has climbed 35 places to 26th in the global rankings over the last 12 months
The research has been published by global mobility expert, ECA International. It reveals the average rental price for an unfurnished, mid-range, three-bedroom apartment has risen to €3,406 per month.
The cost of renting has been affected by elevated demand from international companies. As a result of them relocating staff while looking to take advantage of Ireland's low corporate tax rate.' said Alec Smith, Accommodation Services Manager, ECA International.
London remains the most expensive city for rental accommodation in Europe.
Dublin has also leaped 35 places to 26th in the global rankings.
The Irish government has attempted to counter spiralling rent costs by introducing a number of Rent Pressure Zones. It limits annual rent increases to four percent.' added Smith.
Rent Is The Most Expensive In Hong Kong
Elsewhere, Hong Kong remains the most expensive location in the world for expatriate rent. Typical expat accommodation averaging USD 10,929 per month.
This is an increase of 4.9 percent from last year.
Smith explained: 'Rents increased across Hong Kong during 2018 with limited availability, a long-term issue for the Hong Kong housing market.'
New York remains the second most expensive city in the world for overseas workers to rent in.
However, rental costs have dropped by over USD 250 since last year, as demand dropped slightly.