Belfast Telegraph

Belfast revealed as the UK's fifth costliest city to live and rent in

By Ryan McAleer

Belfast is the fifth costliest city in the UK to live in, according to a survey from consultants Mercer.

Weekly Business Digest Newsletter

This week's business news headlines, directly to your inbox every Tuesday.

The cost of living table today puts Dublin as the most expensive city in the eurozone, overtaking Paris. The Republic's capital has gone from 66th to 32nd in the global table, mainly as a result of the strength of the euro compared to the dollar. 

But at 152 in the world ranking, Belfast has leapt 18 places.

It's one of just five UK cities in the list of 209 locations around the globe.

The other four UK cities featured were London (19), Birmingham (128), Aberdeen (134) and Glasgow (148).

Mercer has calculated the list based on cost of living and rental accommodation comparisons derived from a survey conducted in March 2018. The company also used exchange rates and an international basket of goods and services as base measurements.

Hong Kong has topped the worldwide rankings, ahead of Tokyo, Zurich, Singapore and Seoul. New York has slipped down the table slightly to 13.

Australian cities have also fallen in the ranking this year. Brisbane (84) and Perth (61) dropped 13 and 11 spots, respectively, while Sydney (29), Australia's most expensive city, experienced a relatively moderate drop of five places. However, the drop has been attributed to other cities moving up the ranking.

Noel O'Connor of Mercer said all eurozone cities had risen due to the euro's strength against the US dollar.

"The survey identifies cost pressures on expatriate rental accommodation in Dublin as the key driver of this and this in turn reflects the growth of the economy with continuing high levels of foreign direct investment," he said.

Belfast Telegraph