Is Cyprus expensive to live?

Located in the Southeastern Mediterranean with its sun-soaked coastline and historic cities, the island nation of Cyprus has been enticing foreigners from all around the world for living for decades.

According to statistics, one-fifth of Cyprus population are foreigners. For people who want to invest and live in Cyprus, one of the questions that arise is the cost of living. As you know, the population of foreigners in Cyprus is increasing.

The cost of living in Cyprus is about 25% lower than the European average, according to data released by the European Union. At the same time, these costs may seem much higher than in Asia and Africa.

The Cost of Living in Cyprus in 2021

Many have doubts about the cost of living in Cyprus. If that’s your case, then don’t worry. Here, you’ll find the answer to all your doubts. Please find below useful information about living expenses in this beautiful tourist island.

Total Cost of living in Cyprus:

  •  Estimated monthly costs for a family of four are 2,910.12$ (2,448.06€) – rent excluded.
  • Estimated monthly costs for a single person are 824.42$ (693.52€) – rent excluded.
  • Compared to Iran, the average cost of living in Cyprus is 51.70% higher.
  • Compared to Iran, the average rent in Cyprus is, 37.72% higher.

Restaurants:

Meal, Inexpensive Restaurant12.00 €
Meal for 2 People, Mid-range Restaurant, Three-course50.00 €
McMeal at McDonald’s (or Equivalent Combo Meal)6.00 €
Domestic Beer (0.5 Liter Draught)3.00 €
Imported Beer (0.33 Liter Bottle)4.00 €
Cappuccino (Regular)3.00 €
Coke/Pepsi (0.33 Liter Bottle)1.45 €
Water (0.33 Liter Bottle)0.62 €

Markets:

Milk (Regular), (1 Liter)1.33 €
Loaf of Fresh White Bread (500g)1.50 €
Rice (White), (1kg)1.73 €
Eggs (Regular) (12)2.61 €
Local Cheese (1kg)8.99 €
Chicken Fillets (1kg)6.85 €
Beef Round (1kg) (or Equivalent Back Leg Red Meat)9.30 €
Apples (1kg)1.98 €
Banana (1kg)1.50 €
Oranges (1kg)1.26 €
Tomato (1kg)2.08 €
Potato (1kg)0.85 €
Onion (1kg)0.92 €
Lettuce (1 Head)0.50 €
Water (1.5 Liter Bottle)0.73 €
Bottle of Wine (Mid-Range)7.00 €
Domestic Beer (0.5 Liter Bottle)1.15 €
Imported Beer (0.33 Liter Bottle)1.92 €
Cigarettes 20 Pack (Marlboro)4.90 €

Transportation:

One-way Ticket (Local Transport)1.50 €
Monthly Pass (Regular Price)40.00 €
Taxi Start (Normal Tariff)5.00 €
Taxi 1km (Normal Tariff)1.00 €
Taxi 1hour Waiting (Normal Tariff)15.00 €
Gasoline (1 Liter)1.18 €
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car)17,000.00 €
Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car)18,750.79 €

Utilities (Monthly):

Basic (Electricity, Heating, Cooling, Water, Garbage) for 85m2 Apartment137.25 €
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans)0.11 €
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL)38.42 €

Sports and Leisure:

Fitness Club, Monthly Fee for 1 Adult53.70 €
Tennis Court Rent (1 Hour on Weekend)18.68 €
Cinema, International Release, 1 Seat9.00 €

Childcare:

Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child320.71 €
International Primary School, Yearly for 1 Child5,758.36 €

Rent Per Month:

Apartment (1 Bedroom) in City Centre583.90 €
Apartment (1 Bedroom) Outside of Centre486.84 €
Apartment (3 Bedrooms) in City Centre961.47 €
Apartment (3 Bedrooms) Outside of Centre825.84 €

Apartment Purchase Price:

Price per Square Meter to Buy Apartment in City Centre1,693.13 €
Price per Square Meter to Buy Apartment Outside of Centre1,395.72 €

Salaries and Financing:

Average Monthly Net Salary (After Tax)1,165.03 €
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate2.73 %

Source: crossborderfreedom.com