Cyprus attracts many people with its mild climate, high standard of living, and favorable conditions for business and leisure. However, the question of how affordable living on this island is remains a topic of debate. Let’s take a closer look at the main aspects of expenses in Cyprus to determine whether it’s a budget-friendly or expensive place to live.
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Rent and Property Prices
Rent in Cyprus can vary significantly depending on the region. Limassol and Nicosia are the most expensive cities. In the center of Limassol, renting a one-bedroom apartment typically costs between €1,200 and €1,500 per month, while on the outskirts, the price is around €900 to €1,100. In more affordable areas such as Larnaca and Paphos, apartments can be found for €600 to €800 per month.
Purchasing property can also be expensive, especially in Limassol and Paphos, where prices for apartments and villas start at €150,000 and up. However, in Larnaca and Nicosia, more affordable housing options are available, especially in the secondary market. Utility bills for a typical 85-square-meter apartment average around €150–200 per month, covering electricity, water, and gas (cylinder).
Food and Daily Expenses
Food prices in Cyprus may seem high compared to Eastern Europe but are roughly in line with average European standards. Fresh fruits and vegetables, especially locally grown produce, can be cheaper than imported goods. For example, a kilogram of apples costs around €1.5, and a kilogram of tomatoes is about €1.3. Bread costs around €1 per loaf, while a liter of milk is approximately €1.6.
Local markets in Larnaca and Nicosia offer seasonal fruits and vegetables at lower prices. Buying from farmers can significantly save money, especially if you live away from tourist areas. However, imported items such as certain meats or cheeses may be more expensive than in most Eastern European countries.
Transportation and Mobility
Public transportation in Cyprus is relatively weak, especially in rural areas. Buses are the main form of public transport, connecting major cities and some villages, but their schedules are often inconvenient for regular commuting. A one-way bus ticket costs around €1.5, and a monthly pass is about €40–50.
For those planning to travel frequently across the island, renting a car is the best option. Rental prices vary depending on the season and the model, but they average between €20 and €40 per day. Gasoline costs around €1.5 per liter. Taxi fares are also relatively high—starting at around €4, with each kilometer costing about €1.2. For those who plan to travel by car, transportation expenses can become significant.
Utility Costs and Housing Expenses
Utility costs in Cyprus average around €150–200 per month for an 85-square-meter apartment. This amount covers electricity, water, and gas. It is important to note that during winter, due to the lack of central heating in most homes, electricity bills may rise significantly due to the use of electric heaters.
Internet costs are also above the European average: a connection with 100 Mbps speed costs about €30–35 per month. Phone and mobile rates are also higher than the European average, which should be considered when planning a budget.
Healthcare and Insurance
Healthcare in Cyprus meets high European standards, but costs can vary. For EU citizens and third-country nationals with the right to work, there is a state healthcare system called GESY.
A visit to a general practitioner costs around €40–60, and a consultation with a specialist starts from €70 and above. In cases such as tests or comprehensive examinations, expenses can reach several hundred euros. As a result, many expats choose to purchase health insurance to avoid high medical costs.
Entertainment and Leisure
Entertainment in Cyprus can range from budget-friendly to quite expensive. Dining in tourist zones can be costly: a meal for two at a mid-range restaurant costs around €50, while a cup of coffee is about €3–4. Movie tickets are approximately €8–10, and a night out at a club or bar can easily cost €20–30 per person. However, for those who prefer active leisure, activities such as hiking in the Troodos Mountains or beach outings require little to no expense.
Overall, Cyprus is not a particularly cheap place to live, especially if you plan to reside in major cities or tourist areas. However, with careful budgeting and mindful spending, it is possible to create a comfortable lifestyle on this sunny island.
