Planning a move to Cyprus in 2026 requires a thorough analysis of the current economic situation. Over the past few years, the island has transformed from an affordable Mediterranean resort into a prestigious business and technology hub. This has led to a rise in the cost of living, particularly in cities like Limassol and Paphos. For a family of three (two adults and one child), the budget consists of several fundamental components: rent or housing maintenance, education, healthcare, transportation, and everyday expenses. In 2026, investors and expats should consider figures that take inflation and updated tax regulations into account.
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Housing costs: rent and maintenance
Housing remains the largest expense item. In 2026, the Cyprus real estate market stabilized after a sharp rise in 2022–2024, but prices remained high. Limassol remains the most expensive city, while Paphos and Larnaca offer more balanced options.
For a family of three, a two-bedroom apartment or a small townhouse is the optimal choice. In Limassol, in areas with developed infrastructure (Germasogeia, Agios Athanasios), the monthly rent for such a property in a new building ranges from €2,300 to €3,500. In Paphos, similar housing costs €1,500 to €2,200. Resale properties are 1.5 to 2 times cheaper.
Associated real estate expenses
In addition to rent, there are monthly maintenance fees (Common Expenses) to consider, including pool cleaning, garden maintenance, and common area lighting. For modern residential complexes, this amount ranges from €80 to €150. A municipal waste collection tax is also paid annually.
Utilities and communications
Electricity costs in Cyprus remain among the highest in Europe, due to dependence on imported fuel and the cost of air conditioning. In 2026, many households switched to solar panels (photovoltaics), which can reduce bills by 70%; however, this option is often unaffordable for renters.
- Electricity: The average bill for a family of 3 in a 100 square meter apartment is 50 – 100 euros per month (in summer the amount is higher due to air conditioning, in winter – due to electric heaters).
- Water supply: 30 – 50 euros per month depending on the intensity of use.
- Internet and mobile communications: A high-speed fiber-optic internet package (up to 1 Gbps) costs approximately €30–€55. A mobile connection with unlimited internet for two adults costs €20–€40 combined.
Child’s education: private schools
If your child does not speak Greek, it will be difficult to attend a state school, so most expats choose private English schools.
Tuition depends on the child’s age. For Primary School in 2026, the average cost is €4,000–€9,000 per year. For Secondary School, the average cost is €7,000–€13,000. To this amount should be added the registration fee (€200–€500), the cost of uniforms and textbooks (€400–€600 per year), and, if necessary, the school bus (€80–€120 per month).
Food and consumer goods
In 2026, competition between retailers keeps the cost of the grocery basket affordable. A family of three, choosing high-quality groceries from supermarkets like Alphamega and fresh vegetables from farmers’ markets, spends between €800 and €1,200 per month on food. This includes basic delicacies, household cleaning products, and personal hygiene products.
Dining out is an important part of the social lifestyle in Cyprus. Dinner for three at a classic tavern with wine will cost between €50 and €110. Visiting the upscale restaurants in Limassol Marina will cost you from €150 per evening.
Transport and logistics
Public transportation in Cyprus in 2026 is poorly developed, making owning a car a necessity. Gasoline prices in 2026 will fluctuate between €1.30 and €1.50 per liter.
- Car maintenance: Full Comprehensive insurance for experienced drivers costs approximately €200–€400 per year. Road tax, based on CO2 emissions, ranges from €50–€300.
- Leasing and rental: Renting a mid-range car in 2026 with a long-term contract costs €500–€700 per month. Leasing a new electric car (a popular trend in 2026) costs €450–€600.
Medicine and insurance
All residents who are taxpayers have access to the public healthcare system (GESY). Contributions are 2.65% of income. However, for quick access to specialists and comfortable conditions in private clinics, families often purchase additional private insurance.
Summary table of monthly expenses in 2026
| Expense category | Budget option (Euro) | Premium option (Euro) |
| For rent (2-bedroom apartment) | 1,600 | 3,500 |
| Utilities and communications | 250 | 450 |
| Food products | 800 | 1,400 |
| Education (1 child, private school) | 750 (depreciation for the year) | 1 100 (depreciation for the year) |
| Transport (fuel, service, taxes) | 200 | 400 |
| Leisure and restaurants | 300 | 800 |
| Medicine (including private insurance) | 150 | 300 |
| TOTAL PER MONTH | 4,050 | 7,950 |
Tax Aspects and Non-Dom Status
For wealthy investors, non-domicile status remains a key factor in budget savings in 2026. This status allows legal exemption from special defense contribution (SCD) on dividends, interest, and rental income for 17 years. This significantly increases a family’s disposable income, allowing them to cover a significant portion of the island’s operating expenses.
FAQ: Frequently Asked Questions
What is the minimum salary a family of 3 needs to have to live comfortably in 2026?
To ensure a basic level of comfort, including renting a home in a decent area, private schooling for a child, and owning one car, the family’s total income must be at least €4,000 after taxes.
How much does it cost to keep a pet in Cyprus in 2026?
Owning a medium-sized dog will cost approximately €80–€120 per month for quality food and preventative care. Grooming services in 2026 cost between €45 and €70 per session. Also worth considering is the municipal dog ownership tax, which is approximately €20 per year.
Does installing solar panels affect rental costs?
Yes, in 2026, properties equipped with photovoltaic systems will rent for 10-15% more. However, for the tenant, this is a good deal, as the savings on electricity bills (which can reach €4,000 per year without panels) completely offset the difference in rent.
What hidden costs might arise when moving?
The main hidden costs are deposits: for rent (usually one month’s rent), electricity connection to the EAC (approximately 200-350 euros for foreigners), and water. Also significant is the purchase or rental of appliances and furniture if the apartment is rented unfurnished.
What insurance is required to obtain a residence permit in 2026?
Basic health insurance (Immigration Insurance) is mandatory for any type of residence permit (Pink Slip, BCS, etc.). It costs approximately €180 per person per year, but only covers emergency situations.
