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Study Finds It Will Take 21 Years To Save A Deposit For A House In Dublin


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If you're saving to buy a home in Dublin, one study has suggested it will take you 21 years to get a deposit together.

The latest figures are based on someone earning the average industrial wage in Ireland and living in Dublin.

Eoin McGee from Prosperous Financial explained how they came up with the results:

"€36,900 per annum is the average earner, after tax in a month that works out at just under €2,500. You spend €850 a month running your life, you spend €1,500 a month on rent."

He went on to explain that that leave people with "only €127 a month to save, that's all you have to save, and the average house price in Dublin is €320,000."

"You're going to need a 10% deposit so it's going to take you 21 years, if all you have is €127 a month, to get to that €32,000 deposit", he said.


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