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The bigger problem in Dublin is the lack of supply. Construction pretty much stopped in 2008 and hasn't really recovered since. The wages are a little lower in Dublin too.
As a city, its not equipped for a growth spurt in population, and the infrastructure doesn't support commuting from the suburbs, there is a seriously limited train network.
That said, it's a cracking city.
Pretty much anywhere central has gone through the roof. A mate has just bought a 3 bed in a place none of us would ever have aspired to live, and he paid 400k. Couple that with a maximum of 80% loan makes buying a property in the centre pretty tough for 1st time buyers.
The cost of living in general is much much higher in Ireland, its a joke. Personal tax rates are so high.