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Dublin has retained its position as one of the most expensive cities in the world, despite hopes that the current recession would force prices down in the consumer market.

Dublin has retained its position as one of the most expensive cities in the world, despite hopes that the current recession would force prices down in the consumer market.

According to the latest Worldwide Cost of Living Survey, compiled by Mercer for 2008, Ireland's capital city is still the 16th most expensive urbanised area in the world, retaining its position from the previous findings for 2007.

The new cost of living survey has placed Dublin well inside the top 20 most-expensive cities in the world.

Surprisingly, Dublin's position in the cost of living list means our country's capital is now wedged between Rome and just behind Sydney in the expensive survey - despite both the Italian and Australian capitals being seen as more popular places to live.

The Mercer's cost of living survey covers 143 cities across six continents, and is widely seen as the definitive indicator of which countries and cities offer the best value for those seeking a high quality of life at a reasonable financial cost.

In the latest survey, Moscow has again been named as the world's most expensive city for the third consecutive year while Asuncion in Paraguay has been listed as the cheapest.

Tokyo is in second position on the world's most expensive cities rankings, climbing two places since last year, while London has dropped back one place to its new position of third.

Oslo, the capital of Norway, has climbed six places to fourth and is followed by Seoul in fifth.

Among the items used by the cost of living survey to compare expenses are housing, transport, food, clothing, household goods and entertainment.

Downturn

The latest survey on the subject has acknowledged that there has been a downturn in the Irish market in recent months, but it has clearly noted that despite the official recession now taking place across the country, our capital city is continuing to ride high when it comes to the high price Dubliners pay to live here.

Patrick Robertson, Principal in Mercer Ireland said: "Despite price increases in a number of categories, the relative position of Dublin has not changed over the last year.

"For expatriates working in Ireland, Dublin is still ranked amongst some of the most expensive major cities in Europe and internationally."

Caroline Crawford