Cyprus has an European standard of living, but remains relatively inexpensive.
Taxation in Cyprus, especially property tax, plays a big part in reducing the cost of living in the country. While Council Tax in the UK costs around 1,700 EUR for Band D houses (worth between around 80,045 EUR and 104,159 EUR), residents in Cyprus can be lucky enough to pay a fifth of that.
A decent two bedroom apartment in Nicosia generally starts at around 100,000 EUR and the same holds true for Limassol. Similarly sized apartments can be rented for 500 EUR or less and, as is the case with buying property, can be found for even cheaper in less populated areas. Expats who do consider buying property in northern Cyprus should, however, be aware that they may find themselves in the middle of an ownership dispute with Cypriots who were forced to leave their homes when Turkish forces invaded the country in 1974.
New expatriates who are fans of air conditioning should also be aware that electricity in Cyprus is reputedly the most expensive in the EU, while poor insulation in houses often means needing a heater between December and March (and having to pay for it). Internet costs, on the other hand, can vary between 20 EUR and 100 EUR a month depending on the package and provider.
|Rent Per Month||Price|
|Apartment (1 bedroom) in City Centre||422.14 €|
|Apartment (1 bedroom) Outside of Centre||342.31 €|
|Apartment (3 bedrooms) in City Centre||620.87 €|
|Apartment (3 bedrooms) Outside of Centre||550.00 €|
|Basic (Electricity, Heating, Water, Garbage) for 85m2 Apartment||157.04 €|
|1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans)||0.08 €|
|Internet (6 Mbps, Unlimited Data, Cable/ADSL)||35.41 €|
Food and Drink
Food and drinks bought from shops instead of eating out in restaurants can significantly be cheaper. An individual gets to spend around 100 euro every week for grocery items and beverages. Cyprus is dependent on imported food products since there is a shortage in agricultural stock and natural resources.
Overall, the country has a wide variety of fruits, vegetables, meat and fish primarily intended for self-use. Wines and beers are also available locally and there are imported ones that cost more. Coffee, tea, brandy and Cypriot wine are highly popular and are mainly used for export. These are available at very affordable prices. With beers at around 2 euros a pint and wines at 3 euros per bottle. Cheese products are one food category that seems to be in excess.
Locals and households sell homemade cheese, yogurt and salad dressing, which may explain the surplus. Vegetables and herbs in Cyprus also have relatively large sizes. Potatoes, celery, radish, parsley and coriander are produced and sold at cheap prices. Meat products are affordable if bought at the right places but seafood can be especially expensive.
|Meal, Inexpensive Restaurant||10.76 €|
|Meal for 2, Mid-range Restaurant, Three-course||50.00 €|
|Combo Meal at McDonalds or Similar||6.00 €|
|Domestic Beer (0.5 liter draught)||3.00 €|
|Imported Beer (0.33 liter bottle)||3.50 €|
|Cappuccino (regular)||3.45 €|
|Coke/Pepsi (0.33 liter bottle)||1.44 €|
|Water (0.33 liter bottle)||0.72 €|
|Milk (regular), (1 liter)||1.40 €|
|Loaf of Fresh White Bread (500g)||1.61 €|
|Rice (white), (1kg)||1.92 €|
|Eggs (12)||3.24 €|
|Local Cheese (1kg)||9.13 €|
|Chicken Breasts (Boneless, Skinless), (1kg)||8.45 €|
|Apples (1kg)||2.00 €|
|Oranges (1kg)||1.29 €|
|Tomato (1kg)||1.38 €|
|Potato (1kg)||0.79 €|
|Lettuce (1 head)||0.62 €|
|Water (1.5 liter bottle)||0.83 €|
|Bottle of Wine (Mid-Range)||5.00 €|
|Domestic Beer (0.5 liter bottle)||1.11 €|
|Imported Beer (0.33 liter bottle)||1.34 €|
|Pack of Cigarettes (Marlboro)||4.55 €|
There hasn’t been a rail network in Cyprus since 1951, although it was confirmed in 2012 that, somewhere within the next 15 years, Cypriots should once again have access to intercity trains. Buses are available and are fairly inexpensive, with a single trip during the day costing around 1.50 EUR, while an unlimited 24-hour ticket costs 5 EUR for trips in a single city. Unfortunately, they are not always reliable and routes can be limited, so many people opt for private taxis at around 1 EUR per kilometre and a flat 4 EUR tariff, depending on the location.
|One-way Ticket (Local Transport)||1.50 €|
|Monthly Pass (Regular Price)||40.00 €|
|Taxi Start (Normal Tariff)||3.42 €|
|Taxi 1km (Normal Tariff)||1.00 €|
|Taxi 1hour Waiting (Normal Tariff)||13.66 €|
|Gasoline (1 liter)||1.39 €|