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.
For investors, does it matter who wins the US election?
An Irish woman in Malta: ‘I miss my family and the greenery of home but not the driving rain’
Ronan Collins: ‘My mother always said: if your feet don’t feel right, the rest of you will suffer’
Pilita Clark: The dos and don’ts of the email introduction
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.
Retail and hospitality in the firing line as Irish insolvencies ramp up
- Sign up for the Business Today newsletter and get the latest business news and commentary in your inbox every weekday morning
- Opt in to Business push alerts and have the best news, analysis and comment delivered directly to your phone
- Join The Irish Times on WhatsApp and stay up to date
- Our Inside Business podcast is published weekly – Find the latest episode here