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Costs of Living In Ireland

Deflationary Times

During the height of the housing bubble, Ireland inflated massively. But, what goes up... And a good thing, too. Ireland had become the highest priced economy in the EU.

Prices continue to fall for everything but professional services. Doctors, lawyers and dentists apparently live in a different Ireland to the rest of us because their rates keep going up. Which means, that for many of us, health standards are going down.

Overall Living Costs - A Guesstimate

What's the current average wage in Ireland?

The government's Economic and Social Research Institute - http://www.esri.ie - reports the following:

Public Sector - 792.32 euro per week - about €41,000 per year
Private Sector - 678.35 euro per week - about €35,000 per year

However, unemployment is high and emigration has again become a way of life for Ireland's dispossessed. Many who still have jobs are only working 3 days a week. Overtime is a thing of the past.

Anyway, let's break that figure down and see whether it's enough to get by. Remember, though, that everyone's life-style and needs differ, so this is a mere indicator. For example, I have a friend who lives alone on less than €8,000 a year including a small mortgage payment each month. He's a vegetarian, he doesn't eat out and a big splurge is to buy himself a new belt.

However, as several bulletin board posters attest, you can get by on €30,000 if you're not paying taxes (retired), living well away from Dublin and eat more spuds and less lamb chops.

I'll note that in 2010, rents have fallen by an average of 18pc countrywide and the official deflation rate is hovering around 6% - and Gross National Product is down nearly 14%.

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Phones, supermarket, transport, car insurance, electric items, TV, rent, meals out, etc. all considered to help you come up with a very rough budget for your first months. Also, a breakdown of how you'd get by on the standard industrial income of about €350,000 per year - utilities, rent, medical expenses, insurance, car and the like.

 


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