Dublin is now the 41st most expensive city globally according to a new index.
Mercer's Cost of Living City Ranking sees the capital jump 10 places above its ranking from last year.
The ranking makes Dublin more expensive than places like Abu Dhabi (43), Sydney (58), Madrid (76) and Stockholm (102).
The only other Irish city on the list is Belfast which is ranked at 87.
Victoria Harbour in Hong Kong, 21-3-14. Image: Sean Pavone / AlamyOf the 10 most expensive cities half are located in Western Europe, with Switzerland being home to four.
Southeast Asian cities lead the list, with Hong Kong and Singapore remaining in the first and second positions, respectively.
European cities feature heavily in the top 10 in addition to the four Swiss cities with London now in the top 10 in 8th place.
Other expensive cities in the region include Copenhagen (11), Vienna (24), Paris (29) and Amsterdam (30).
The index includes 226 cities across five continents and measures the comparative cost of more than 200 items in each location, including transport, food, clothing, household goods and entertainment.
'We're quite low'
Temple Bar Company CEO Martin Harte told Newstalk he isn't concerned about Dublin's higher ranking as an expensive city.
"I wouldn't see the alarm bells ringing very loudly on this," he said.
"I think we're quite low and we're well behind other cities like Amsterdam, Berlin and other European cities.
"I'm not terribly surprised but I'm not concerned; I don't think it's any threat to our competitiveness or anything like that".
The Samuel Beckett Bridge is seen over Dublin's River Liffey in August 2012. Picture by: incamerastock / AlamyMr Harte says Ireland has a few unique factors that make it so expensive.
"Ireland has one of the highest minimum wages [of] just under €13 an hour," he said.
"If you look at somewhere like Spain that's about €8.80.
"At the same time I think post-COVID there has been a big increase in pricing.
"But that's certainly stabilising - that's something we'd see here in Dublin and in the city centre.
"Even with the likes of hotel rooms prices have softened".
It comes just days after Dublin was named one of the most expensive cities in the world for car parking charges.
Housing
The report notes that the cost of housing is a "major factor" in the expensive city rankings.
Between 2023 and 2024, there was a lot of volatility in this cost around the world with housing rental prices varying significantly between cities.
For example, the Turkish city of Istanbul saw an average price increase of 301%, while Tel Aviv saw a decrease of 22% and Minsk, Belarus saw a decrease of 10%.
Sinn Féin Housing Spokesperson Eoin Ó Broin said a lack of housing is making Ireland more expensive.
"Month after month, week after week, the impact of the Government's failed housing plan is laid bare by independent analysis," he said.
"Until we have a Government that prioritises the delivery of tens of thousands of genuinely affordable homes these problems will continue.
“We will only fix the housing crisis and bring down the cost of homes and rents by increasing supply," he added.
The two most affordable cities are Lagos (225) and Abuja (226), both located in Nigeria.
Between 2023 and 2024, the most significant increases in living costs were seen in cities in Africa and Eastern Europe.
