That's according to moneysherpa.ie an independent personal finance website which says buying a house in Cork can be up to €151,000 cheaper than renting
The firm conducted analysis of the long term costs of buying versus renting and found that it's over €100,000 cheaper to buy than rent in over three quarters of counties across Ireland.
The figures show that renting an average property in Cork over 30 years now costs up to €151,000 more than a 30 year mortgage for the same property
Speaking to RedFM News Mark Coan of moneysherpa.ie explains how they conducted the study
"The average property price in Cork is €255,000 and the average rent is €1300 a month. But on a 30 year mortgage, you would actually pay €880 a month. So over 30 years if you think about that long term that that means you you'd be €150,000 better off on repayments alone, by getting a mortgage. And at the end of those 30 years you would own that property. So you'd have an asset that's worth €255,000 in addition"
