Dublin has been named as the sixth most expensive capital city in the world for renters.

The CIA Landlord study assessed the average rent of one-bed apartments in 38 capital cities around the world.

Commenting on the study, Labour representative Rebecca Moynihan said extortionate rent is "haemorrhaging young people, creatives and life long Dubs".

Senator Moynihan said: "Who would want to be a renter in Dublin? We are now placing number six and there’s virtually nothing in the difference between renting in Dublin or London, Washington, Hong Kong or Singapore. It is an absolute failing of government policy and it will have lifelong implications for this city.

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"Dublin is increasingly becoming a city for elites in society and it's closing its doors on the people that make this place great – our artists, storytellers and young people. It's also losing its heritage with so many of the next generation of Dubliner's being forced to the country because they simply cannot afford to rent in this city.

"The city is now just an investors paradise. Labour has long called for a three year rent freeze to give renters a break while new housing comes into the market. In fact, if we don't implement a rent freeze there's no doubt that we'll find ourselves runner up on the list, losing out to Monaco.

"We need to tackle the affordability crisis in Dublin and change how we think about renting in this country."